Personnel insurance, pension insurance and accident insurance
Personnel insurance policies have been modified to comply with the applicable labour and welfare schemes and the Norwegian Occupational Injury and Illness Act. In addition, AF has extended its group life insurance policy (in case of death) and accident policy, giving employees better coverage than the law prescribes.
AF has a contributions-based pension scheme.
All employees are covered by an disability pension policy. The disability pension policy is designed, in conjunction with payments from the National Insurance Scheme, to provide a disability pension of approx. 60% of basic pay at onset of disability. The right to a full disability pension requires that period of membership and the time to pensionable age (67) total 30 years. A shorter period of service will lead to corresponding reductions.
Early Retirement Pension
The Early Retirement Pension scheme (AFP) entitled the employee to retire and receive pension from the age of 62 years. In principle the amount of the pension must be the same as the old-age pension which would have been received from the National Insurance Scheme at the age of 67. It consists of the basic amount, the supplementary pension and the AFP supplement. This last benefit is tax-free and is intended to cover lacking supplementary pension.
Bonus system
AF has various schemes for assessing additional profit-related remuneration in the form of bonus payments. The schemes are related to the peculiarities of the various business units.
Car loans
On application the company may extend car loans to the company’s employees in Handelsbanken Finans for the purchase of a car. The employee pays Handelsbanken Finans an establishment fee at the current rates, which is added to the loan sum. The interest on car loans is set in accordance with the currently applicable normal rate for reasonable work loans, as determined by the Tax Directorate. Instalments and interest are deducted monthly by Autogiro from the employee’s bank pay account.
Road tolls
For employees with an agreement on car ownership in the Oslo area, the company will pay an annual season ticket with the Oslo Fjellinje. The season ticket is applied and paid for in the employee’s name. The charge is refunded by the company on presentation of invoice. In the case of working locations elsewhere in Norway where there are toll systems, similar schemes may be agreed.
Saving scheme
AF offers all employees a savings scheme. The employee can make contributions to the company and receive interest payments from the first krone calculated once a quarter (1 January, 1 April, 1 July and 1 October). The interest payment is based on the high-interest barometer at Norsk Familieøkonomi (www.norskfamilie.no) and is the best instalment interest + 0.5 % of savings over NOK 100,000.
Purchase agreements
The company has several supplier agreements from which all AF employees can benefit. We have agreements with Elixia, SATS, E-18 Møller-bil Billingstad, Hvam Bil Skjetten Toyota, Optimera Monter, Oslo Sportslager, Sportshuset Storo and Statoil.
Joint events
Every year AF arranges a sailing trip for all employees. 14 sail boats with space for 8-10 persons leave Son on Friday evening, anchoring at Engelsviken in Østfold. On Saturday there is racing to Koster, and after a long and pleasurable evening with barbecue etc., the boats return to Oslo on Sunday morning.
In addition the company sports clubs have their own events, including an annual skiing holiday in Trysil and a fishing trip to Bornholm with talks and courses included.
These popular events give everyone a great opportunity to get to know employees from the different AF business units.
