Compensatory
Time Account

Your Fresenius Compensatory Time Account

A break from work, professional development, caring for relatives or early retirement? A paid leave of absence makes this possible. The Compensatory Time Account is open to all employees with a permanent and non-expired employment contract at one of the participating Fresenius companies. Fixed-term or casual workers, trainees, temporary staff, interns and semi-retired employees are not eligible.

At a glance

Play

Fully involved in working life – diligently saving credit. With the Fresenius Compensatory Time Account, this is both straightforward and flexible.

Plan
Calculator
Tariff modules
Own contributions

Pause

Press the pause button – for professional development, to care for relatives or just because you fancy a break.

Break
Professional development
Care

Fast Forward

Taking early retirement – you’ve earned it. The Compensatory Time Account also makes this possible without taking any deductions from your statutory pension.

Early retirement

How the Compensatory Time Account at Fresenius works

With the Compensatory Time Account, you can contribute time or money right now and use your credit to take a leave of absence later, thereby adding significant flexibility to your professional plan.

01

Contribute time or money

Thanks to its tariff modules Fresenius has built the financial foundations for tariff employees to take a leave of absence. You can also make your own contributions, either with money (e.g. from your monthly gross salary) or time (e.g. annual leave, age-related time off and overtime).

02

Save credit

Built-up time is converted into a financial amount. The credit balance accrues annual interest, meaning that the funds in your account will steadily increase!

03

Request a leave of absence

The credit is paid out in time: you take a leave of absence and continue to receive your Fresenius salary while on leave of absence. You are responsible for requesting a leave of absence and making arrangements with your manager and the HR department. They will take operational matters into account when considering your request.

How long is the leave of absence?

How long your leave of absence lasts depends on your time credit and desired leave of absence salary. It’s up to you how long you want to press the pause button for: your leave of absence salary can be between 75% and 125% of your regular salary.

Your benefits

Added value

All payments and contributions are invested for you with Allianz using a risk-averse approach. You are guaranteed to receive an interest rate of 2.25% and will also receive any surpluses generated by insurance on top of this. For 2022, the interest rate is 2.275%, including the guaranteed interest rate and taking account of investment costs. Please note that special regulations apply for Vivonic GmbH.

Social security scheme

What makes the Compensatory Time Account so attractive is that you continue to be employed by Fresenius throughout your leave of absence. In contrast to voluntary unpaid leaves of absence, you will still receive social security through Fresenius. There are no additional costs, e.g. for health insurance, and the employer continues to make contributions to your statutory pension to ensure there are no gaps in your retirement benefits.

Protection from insolvency

All contributions to your Compensatory Time Account are invested with Allianz and secured through a trustee. This means that in the event of Fresenius becoming insolvent, your money is protected through the trusteeship. If Allianz were to go into insolvency, you are covered by the Protektor scheme – offering you double protection.

And the costs?

Fresenius takes care of any costs incurred for the administration of the Fresenius Compensatory Time Account with Höchster Pensions Benefits Services GmbH. The costs for the investment by Allianz (0.475% of your credit per year) are automatically offset against the interest on your credit balance.