When it comes to retirement, you want to ensure that your employees will have flexibility, control and value from their pension arrangement – not to mention the usual tax advantages.
Group Pension & Risk Benefits Plans
Wallace Financial can offer the following to the you the Employer or Corporate entity that will help secure your employee’s future after normal retirement age.
Group Pension plan
A Group Pension plan or Corporate plan can give your employees this piece of mind. These types of plans are designed with tailored charging structures and fund choice to suit the needs of your company and your employees.
Defined as unit-linked group pension arrangement, they are suitable for Group Pension and Group AVC Plans.
Does your Company want to provide a pension scheme for employees and also contribute to a pension scheme on behalf of their employees?
Has your Company considered the possible introduction of Auto Enrolment in the coming years i.e. the mandatory contributing of employer contributions to a Pension arrangement?
If your Company already provides a Group Pension and/or Risk Benefits plan, have they considered:
1. If they are happy with the choice of funds into which they can invest their contributions
or
2. If they are happy to take risk with the aim of generating returns
or
3. If they are happy with the charges and fees linked to their specific plan
or
4. If they are happy to act as Trustees or have they considered appointing a professional trustee to their specific pension arrangement
5. If each member is getting the appropriate advice in planning for retirement
If you have concerns on any of the above and would like to discuss the factors highlighted above, contact Wallace Financial to discuss further.
Group Life Insurance – Death in Service
We can arrange a life assurance plan that will provide a lump sum benefit payable to the trustees and / or a dependant’s spouse or dependant’s child in the event of an insured member’s death.
A lump sum benefit which can either be for a fixed amount, or a multiple of salary and is payable when an insured member dies. One can also use all or part of any lump sum covered under this policy to provide a dependant’s pension within the revenue requirements of an exempt approved scheme.
Group Income Protection
We can arrange an income protection plan that will provide financial protection to your employees and equity partners when they need it by providing certain benefits in the event of an insured member being unable to work due to incapacity which results in loss of earnings.
The insured benefits can be as a percentage of the insured member’s gross earnings based on your requirements and subject to pre-set maximum benefits depending on the life company chosen. In the event of incapacity this percentage of earnings will be paid to the Employer to pay to the insured member through the payroll process, after the deduction of tax and USC.