IRISH INSTITUTE OF PENSIONS MANAGEMENT
|
|
- Derick Spencer
- 6 years ago
- Views:
Transcription
1 Volume 3 Issue 1 December 2012 Irish Institute of Pensions Management IRISH INSTITUTE OF PENSIONS MANAGEMENT Deferred members - gone but not forgotten? - by Ms Peggy Hughes Partner at MASON HAYES & CURRAN Background The days of a job for life are all but dead and gone. People nowadays often have more than one job during their working lives, indeed some have more than one career and, in the current economic climate in particular, people increasingly have more than one country of residence during their working lives. Such flexibility and adaptability is commendable in any workforce and brings many benefits to the workplace but it also brings challenges. These changes in work patterns are reflected in difficulties for the management of pension pots left in the wake of this mobile workforce as it moves from job to job and country to country. Unless action is taken to address the issues at a national level, the challenges are sure to become a greater problem for trustees and employers and, indeed, all stakeholders in terms of compliance, administration and cost. Not to mention the potential issues for the individuals themselves whether in terms of erosion of the value of their fund through fees, inflation or simply through losing the pot with the inability to trace back through employers who may have ceased to exist, merged or been taken over. Looking at the UK for instance, recent Department of Work and Pensions statistics indicate that 1 in 6 people have no idea where their pension is saved. Currently there are approximately 3bn sterling worth of funds in dormant workplace pensions and by 2050 it is predicted that there will be 50 million dormant workplace pensions with over 12 million of them holding funds of less than 2,000 sterling. The huge increase is anticipated due to job mobility, the advent of auto-enrolment and the end of short service refunds. While the scale is no doubt smaller in Ireland, we also face similar job mobility issues and the possibility of an auto-enrolment system. Clearly there is a need to manage this group of members and their benefits effectively. Current position As we all know, when a scheme member terminates relevant employment and the individual is entitled to a benefit under a pension scheme, that benefit is deferred until retirement and may or may not be preserved under the terms of the Pensions Act While the individual will have a number of options, many simply leave their pension pot in the former employer s pension scheme and, with the passage of time thereafter, the administration of the benefits left behind can prove both difficult and costly. In this issue: Page 1& 2-Deferred Members by Ms Peggy Hughes Page 3 Annual Dinner Page 4 Budget Highlights & Fellowship awards. Page 5 Christmas Quiz Page 6 Upcoming Events Page 7 Seasons Greetings
2 Volume 3 Issue 1 December 2012 Irish Institute of Pensions Management IRISH INSTITUTE OF PENSIONS MANAGEMENT Trustee compliance issues are also a concern. Trustees must act in the best interests of scheme members and that duty will always be on their minds. However, they also only have to look at Section 59 of the Pensions Act 1990 to find some additional duties which will be of particular concern in relation to deferred benefits including: (a) to provide for the proper investment of the resources (b) where appropriate, to make arrangements for the payment of the benefits as provided for under the rules of the scheme as they become due, whether in the State or in any other Member State (c) to ensure that proper membership and financial records are kept (d) if a scheme is wound up, to apply the resources in discharging liabilities without undue delay It s clear that trustees may have significant difficulties, even on a purely practical level, in meeting their obligations under Section 59 indefinitely in respect of deferred members as contact with those members diminishes. So what can trustees to do with deferred benefits? Section 35 of the Pensions Act 1990 and related regulations permit transfers of preserved benefits without member consent to one or more buy out bonds but only in certain circumstances including where the Pensions Board grants an application from the trustees. Where the deferred benefit is not preserved the trustees options will depend on the scheme rules. The options may include taking a transfer out of the scheme or simply remaining as a deferred member. In any event, trustees are often limited in their options for handling deferred benefits if the deferred member fails to take a transfer out. The trustees are then faced with meeting all their duties and obligations for a section of their pension scheme which, in many instances and increasingly, far exceeds the active scheme population in number and with whom they gradually lose contact. The scale of the difficulties is large and increasing and in some cases is way beyond the capacity of many trustees and employers to manage on their own. What next? While trustees and employers should have their own plan for managing deferred members as pro-actively as possible, the issues probably warrant a more co-ordinated effort. Perhaps it is time to revisit the National Pensions Framework of 2010 which advocated, among other things,: A tracing service to facilitate the tracing of pensions by former employees and scheme trustees Consideration be given to the establishment of a State managed fund into which untraceable accounts would be deposited. These suggestions are not all that different from what is happening elsewhere but, to my knowledge, there has been no progress on them either to move them forward if deemed appropriate or to consider alternatives. If discussions at a recent IAPF seminar on the issue is anything to go by, there appears to be a considerable body of opinion which believes that it may be time for a wide ranging conversation on this issue to develop national management strategies. Whatever the solution or solutions, it seems the time has come at least for an informed national discussion but preferably one with some swift follow up action to address the issues sooner rather than later.
3 Volume 3 Issue 1 December 2012 Irish Institute of Pensions Management IRISH INSTITUTE OF PENSIONS MANAGEMENT IIPM ANNUAL DINNER The 24th Annual Dinner of the IIPM was held in the St Stephen's Green Hibernian Club on 30 November last with almost 90 guests in attendance. Certificates were presented to a number of new Members, Associates and Fellows and the President, Martin Condon, in his address stressed the strong relationship that had now been established with the National College of Ireland and noted the large number of students now studying for IIPM qualifications. A notable highlight over the year was the selection of our Certificate course for the Government's Springboard Programme and over 30 students are now enrolled at the NCI as part of this programme. Susan Andrews, PMI President and Vince Linnane, CEO of the PMI were in attendance and the Guest Speaker, the renowned Irish journalist Mary Kenny, gave a wide ranging talk on the theme of ''From the Swinging 60s to the Golden Years''. A most enjoyable evening was had by all and a special word of thanks to Irish Life for their sponsorship, to Joan Bray for organising the event and to Andrew Kershaw who acted as MC for the evening.. Left:Mr Martin Condon presenting flowers to the guest speaker Ms Mary Kenny. Right:Mr Kieron Knight receiving his Fellowship ( FIIPM) Certificate. Left: Mr Joe Bracken receiving his AIIPM Certificate. Right :Mr Jonathan Kerr receiving his AIIPM Certificate.
4 IRISH INSTITUTE OF PENSIONS MANAGEMENT BUDGET 2013 A Pensions Perspective. Following the recent Budget on the 5th December 2012, please see below the key highlights which impact on pensions. Budget 2013 Pension Highlights Tax relief on contributions to pensions will continue at marginal rates. No change in the maximum contributions eligible for tax relief (i.e. still age related percentage of 115,000). No immediate change in the Standard Fund Threshold, but a maximum tax subsidised pension of 60,000 per annum will be introduced in No change to the amount of the State Pension ( per week) Option to withdraw part of accumulated AVCs, subject to tax and details to be included in the 2013 Finance Act. Commitment from Minister Noonan that the Pension Levy will not continue beyond June Fellowship Awards The IIPM are delighted to announce that the following Associates were recently honoured as Fellows of the institute and can now use the FIIPM designation. Mr Kieron Knight Mr Stephen Doyle Mr Peter Griffin Mr Joseph O Brien Congratulations to you all on your award. Page 4
5 IRISH INSTITUTE OF PENSIONS MANAGEMENT IT S QUIZ TIME!!!!! Christmas Quiz 2012 So, let's see how much you know about the Institute and its activities! The quiz is open to all IIPM Students, Members, Associates and Fellows. Please RSVP your answers to before 5.00pm on Thursday December 20 th 2012 and the first correct entry drawn from a hat will receive a prize of a wine hamper! 1) Where are the offices of the IIPM Located? 2) What does the Designation MIIPM, AIIPM & FIIPM stand for? 3) What three Pension courses are available at NCI? 4) What is the name of the guest speakers that delivered the De- risking Presentation at the IIPM Seminar on the 20th September 2012? 5) What date does the CPD return need to be completed and returned by? The Best of Luck! Page 5
6 IRISH INSTITUTE OF PENSIONS MANAGEMENT Upcoming Events 2013 Seminar Speaker Date & Time IIPM/CPD Seminar Ms Rachael Ingle & Mr Eoghan Burns January 31st 2013 at 5.30pm Venue National College of Ireland, IFSC, Mayor Street, D1. RSVP Dates for your dairy. IIPM Seminars will also take place on the dates outlined below. The Topics & Speakers will be advised in early February 28th March 28th Exam Timetable 2012/2013 Diploma in Pension Management & Policy & Certificate in Pensions, Investments & Insurance Module Exam Date Exam Time Pension Scheme Law & Governance 7th Jan pm International Practice 12th Jan pm Investments 14th Jan pm Retirement Benefits 16h Jan pm All exams will be held at NCI. Page 6
7 SEASONS GREETINGS! On behalf of the council of the Irish Institute of Pensions Management we would like to wish all our Members, Associates, Fellows & colleagues a very Merry Christmas and a prosperous New Year.
EDUCATION PROSPECTUS. Irish Institute of Pensions Management & National College of Ireland. Taking pensions education to a new level.
EDUCATION PROSPECTUS Irish Institute of Pensions Management & National College of Ireland Taking pensions education to a new level Prospectus President s Welcome On behalf of the Irish Institute of Pensions
More informationPMI Qualifications Guide 2018
PMI Qualifications Guide 2018 Contents About us................................ 3 Why choose PMI?.......................... 4 Member benefits.......................... 5 Qualifications............................
More informationPension Trustees Final Countdown To GDPR
Pension Trustees Final Countdown To GDPR " ROBERT HANIVER SENIOR ASSOCIATE/TECHNOLOGY MASON HAYES & CURRAN " STEPHEN GILLICK PARTNER/PENSIONS MASON HAYES & CURRAN The General Data Protection Regulation
More informationCLARKS FLEXIBLE PENSION SCHEME YOUR MEMBER GUIDE
CLARKS FLEXIBLE PENSION SCHEME CLARKS FLEXIBLE PENSION SCHEME YOUR MEMBER GUIDE Page 1 1 WHY DO I NEED A PENSION? EVERYONE HAS A DIFFERENT IDEA OF WHAT THEY WANT IN THEIR LATER YEARS. MANY PEOPLE WILL
More informationWhere are all the female leaders?
Think Business Starting a business in Ireland https://www.thinkbusiness.ie Where are all the female leaders? Gender imbalance in business leadership and pay inequality do not just hurt the women of Ireland.
More informationThe Aon Ireland MasterTrust
Aon Hewitt The Aon Ireland MasterTrust Expert guidance for the Defined Contribution journey Risk. Reinsurance. Human Resources. About Aon Aon plc (NYSE: AON) is a leading global professional services firm
More informationPlain English summary Consultation Paper: A summary of the Automatic Enrolment (AE) proposal for employees into a retirement savings system
Plain English summary Consultation Paper: A summary of the Automatic Enrolment (AE) proposal for employees into a retirement savings system Department of Employment Affairs and Social Protection Consultation
More informationBelfast Region Committee. South Region Committee presents. "Mind Your Own Business" an evening with Bryan Johnson. Welcome
Belfast Region Committee South Region Committee presents "Mind Your Own Business" an evening with Bryan Johnson Welcome Retirement Planning CPD 17 Bryan Johnston This evening Challenges facing Irish Pensions
More informationPosition Paper on the Taxation of Private Pension Provision
Position Paper on the Taxation of Private Pension Provision Paper issued in November 2011 Supplementary Note issued in November 2017 Supplementary note to the Position Paper on Taxation of Private Pension
More informationProfessional Certificate and Professional Diploma in Investment Fund Services 2013/2014
Professional Certificate and Professional Diploma in Investment Fund Services 2013/2014 Who we are The Institute of Banking The Institute of Banking is the largest professional institute in Ireland. We
More informationNew Zealand Certificate in Financial Services Programme
New Zealand Certificate in Financial Services Programme Level 5 This programme is specifically designed for individuals who are working in the financial services industry and who want New Zealand AFA status
More informationRegulation of Financial Advice 15 October Bill Hannan and Tony Gilhawley
Regulation of Financial Advice 15 October 2008 Bill Hannan and Tony Gilhawley Regulated financial advice 2 Overview Regulated firm firm Consumer Protection Code Code Accredited Individuals Minimum Competency
More informationPensions jargon buster
Pensions jargon buster For employees Active member A member who has been admitted to the scheme and will remain an active member until the earlier date of the following: (a) the member s employer no longer
More informationBUDGET 2016 ADVISORY SERVICES UPDATE
PENSIONS INVESTMENTS LIFE INSURANCE BUDGET 2016 ADVISORY SERVICES UPDATE This document provides commentary and summary of the main changes announced in the Budget Tuesday 13 th October 2015. Economic commentary
More informationThe Local Government Pension Scheme
The Local Government Pension Scheme HR SHARED SERVICES PENSIONS TEAM EMPLOYEE GUIDE 2015 THE LOCAL GOVERNMENT PENSION SCHEME (LGPS) employee guide 1 A BRIEF GUIDE TO THE LOCAL GOVERNMENT PENSION SCHEME
More informationAuto enrolment: an independent guide for accountants by. Mark Lee
Auto enrolment: an independent guide for accountants by Mark Lee 0113 457 4574 info@wpd.email www.workplacepensionsdirect.co.uk We were delighted when Mark Lee agreed to write an independent and impartial
More informationICO Gifts and Hospitality policy
Special leave policy ICO Gifts and Hospitality policy ICO Gifts and Hospitality policy v6 October 2017 Page 1 of 5 1. Scope 1.1 This policy applies to all employees of the Information Commissioner's Office.
More informationSecure benefits the scheme provides you with a future income, independent of share prices and stock market fluctuations.
A brief guide to the Local Government Pension Scheme (LGPS) Employees in England and Wales Highlights of the LGPS The LGPS gives you: Secure benefits the scheme provides you with a future income, independent
More informationMeeting future workplace pensions challenges
Meeting future workplace pensions challenges NEST response to the Department for Work and Pensions consultation document Executive summary The Department for Work and Pensions (DWP) consultation document
More informationContents. The Genome Research Limited Pension Plan. Mapping out your future
Contents 1 Section Page 1 Terms and Definitions flap 2 Introduction 3 3 Summary of benefits 4 4 Joining the Plan 6 5 State Scheme Pension 7 6 Contributions to the Plan 8 7 Benefits on retirement 11 8 Death
More informationYour guide to the Wrigley Pension Plan
THE WRIGLEY PENSION AND LIFE INSURANCE PLANS Your guide to the Wrigley Pension Plan Cross the pensions finishing line in good shape The Wrigley Pension and Life Insurance Plans Introduction This booklet
More informationProfessional Diploma in Governance and Risk Postgraduate education 2014/2015.
Professional Diploma in Governance and Risk Postgraduate education 2014/2015 www.iob.ie/postgrad Who we are The Institute of Banking is the largest professional institute in Ireland. We are a community
More informationinheritance options the flexible approach to inheritance tax planning
inheritance options the flexible approach to inheritance tax planning more options for your future 055 About us Founded in 1939, we have been taking care of our customers' financial futures for over 60
More informationA GUIDE TO A CAREER AS AN ACTUARY
Becoming an Actuary A GUIDE TO A CAREER AS AN ACTUARY Updated: January 2018 Table of Contents 1. About actuaries 2 2. Why become an actuary? 3 3. Where do actuaries work? 4 4. Actuarial Exams 5 5. Actuarial
More informationonsultation Paper CP 40
Revocation of Dormant Collective Investment Schemes Consultation Paper CP 40 1 Revocation of Dormant Collective Investment Schemes (CIS) Introduction Dormant CIS consist of - CIS, including sub-funds,
More informationEvolution of the Society of Actuaries in Ireland
Evolution of the Society of Actuaries in Ireland Presentation to the IAA Presidents Forum, 29 th October 2007 Philip Shier President, Society of Actuaries in Ireland The Society s role Inaugural meeting
More informationA Guide to the Local Government Pension Scheme for Councillors in Scotland
A Guide to the Local Government Pension Scheme for Councillors in Scotland April 2017 Index 1. About this Booklet pg 4 2. About the Local Government Pension Scheme (LGPS) pg 5 Who runs the LGPS? LGPS rules
More informationAdditional Voluntary Contributions (AVCs) For independent financial brokers use only
Additional Voluntary Contributions (AVCs) For independent financial brokers use only Committed to Plain English There is no financial jargon in this booklet and everything you need to know is written in
More informationChanges to your pension. BTPS Team Members April 2018
Changes to your pension BTPS Team Members April 2018 CONTENTS page 1 Introduction Summary of the changes 2 Why are we making these changes? 3 Your BTPS benefits Your deferred benefits in the BTPS AVCs
More informationFRS : How Is It for You?
74 FRS 100 102: How Is It for You? Fergus Condon Partner, Financial Accounting and Advisory Services, Grant Thornton Introduction When the new mandatory accounting framework for Irish and UK companies
More informationO P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET
O P Q RETIREMENT & DEATH BENEFITS PLAN For Employees of The OPQ Company MEMBERS' BOOKLET 2016 EDITION Reviewed January 2016 CONTENTS PAGE 2 INTRODUCTION 3 DEFINITIONS 6 FREEDOM AND CHOICE 8 JOINING THE
More informationADVANCED DIPLOMA FELLOWSHIP
ADVANCED DIPLOMA FELLOWSHIP CII QUALIFICATIONS 2014 IMPORTANT DATES AT A GLANCE CONTENTS 1. Introduction 4 2. CII Membership and Professional Designations 5 3. Recognition of Prior Learning 6 4. Continuing
More informationProfessional Certificate in General Insurance for QFAs
Professional Certificate in General Insurance for QFAs May 2018 Introduction QFAs who successfully complete the Professional Certificate in General Insurance for QFAs and apply for the attaching APA designation
More informationTogether leading in risk. Join the association for everyone with a responsibility in risk and insurance
Together leading in risk Join the association for everyone with a responsibility in risk and insurance Advancing the future of risk and insurance Airmic is the association for UK risk and insurance managers,
More informationA Guide to the Local Government Pension Scheme for Councillors in Scotland (from 1 April 2015) Councillors in Scotland issued April 2018 V1.
A Guide to the Local Government Pension Scheme for Councillors in Scotland (from 1 April 2015) Councillors in Scotland issued April 2018 V1.3 Index 1. About this Booklet pg 4 2. About the Local Government
More informationACOI MEMBERSHIP APPLICATION
ACOI MEMBERSHIP APPLICATION YOU MUST BE A MEMBER OF THE ACOI ONLY IN ORDER TO REGISTER FOR THE PROFESSIONAL CERTIFICATE AND PROFESSIONAL DIPLOMA IN COMPLIANCE PERSONAL DETAILS Surname Name before marriage
More informationPortal Financial Management
Portal Financial Management The Adviser Autumn 2016 Pension Options Are you covered? The basic State pension is only designed to provide a minimum amount of income at retirement. Your Choices at Retirement
More informationQualification Standard Requirements for Continuing Professional Development (CPD)
Qualification Standard Requirements for Continuing Professional Development (CPD) N.B.: This qualification standard will come into effect on January 1, 2020. 1 Context and Purpose Bylaw 3.1.14 states that
More informationStrategic China Business Studies
ENROLMENT FORM Strategic China Business Studies Course Date Course Time Course Fee Language Medium : 3 March 19 March 2015 (6 Sessions) : 7.00pm 10.00pm, every Tue & Thur : S$1,350 (Prevailing GST is applicable)
More informationA GUIDE TO A CAREER AS AN ACTUARY
Becoming an Actuary A GUIDE TO A CAREER AS AN ACTUARY Updated: October 2018 Table of Contents 1. About actuaries 2 2. Why become an actuary? 3 3. Where do actuaries work? 4 4. Actuarial Exams 5 5. Actuarial
More informationAutomatic Enrolment Frequently Asked Questions
Automatic Enrolment Frequently Asked Questions This guide answers some of the questions you may have about automatic enrolment, workplace pensions and True Potential Investor. Contents Q 01 Q 02 Q 03 Q
More informationThe Independent Schools Pension Scheme A Guide for Members. CARE and Final Salary Benefit Structures
Established in 1996 in consultation with the Independent School ISPSBursars Association The Independent Schools Pension Scheme A Guide for Members CARE and Final Salary Benefit Structures A Guide for Members
More informationWorkplace Pension Reform: an introduction to automatic enrolment
Workplace Pension Reform: an introduction to automatic enrolment The government are introducing major changes to workplace pensions. Make sure you know how you will be affected with this handy guide. What
More informationContinuing Professional Development (CPD)
Continuing Professional Development (CPD) Regulations and Guidance Notes November 2016 CONTENTS CPD REGULATIONS 5 1. MEMBERSHIP OBLIGATIONS...5 2. PRINCIPLES OF CPD...5 3. RECORDING CPD...6 4. COMPLIANCE...6
More informationSpotlight. Pensions. Contents. In this issue... Issue 5 - November For Financial Adviser Use Only
For Financial Adviser Use Only Pensions Spotlight A regular update on all matters affecting pensions Issue 5 - November 2012 In this issue... of Pensions Spotlight I have included a number of pieces which
More informationProfessional Diploma in Applied Alternative Investments 2016/2017
Professional Diploma in Applied Alternative Investments 2016/2017 Postgraduate Education 2016/2017 www.iob.ie/postgrad Who we are THE INSTITUTE OF BANKING The Institute of Banking is the largest professional
More informationThe Prize Bond Company Limited. Annual Report 2012
The Prize Bond Company Limited Annual Report 2012 Contents Page Chairman s Statement 1 Corporate Information 3 Directors Report 4 Statement of Directors Responsibilities 5 Independent Auditor s Report
More informationinside University of Newcastle upon Tyne Retirement Benefits Plan welcome help with retirement planning pension reforms pension people plan news
inside welcome help with retirement planning pension reforms pension people plan news updates and reminders PENSION MATTERS University of Newcastle upon Tyne Retirement Benefits Plan December 2015 Caroline
More informationProfessional Certificate in Lending to Professionals, Self-Employed and Micro-SMEs
Certificate in Lending to s, Self-Employed and Micro-SMEs 18 19 Who we are The Institute of Banking is the largest professional institute in Ireland. We are a community of over 34,000 members who work
More informationScenario of Actuarial study program in Bangladesh.
w w w. I C A 2 0 1 4. o r g Scenario of Actuarial study program in Bangladesh. A.K.M. Elias Hussain President Actuarial Society of Bangladesh About Bangladesh : The economy of Bangladesh is a rapidly developing
More informationAdvanced Diploma in Specialist Taxation 2012
Advanced Diploma in Specialist Taxation 2012 The Hong Kong Institute of Certified Public Accountants invites applications for admission to its Advanced Diploma in Specialist Taxation 2012, which will commence
More informationTHE PENSIONS AUTHORITY PRESCRIBED GUIDANCE IN RELATION TO SECTION 49 OF THE PENSIONS ACT, 1990 VERSION 02. DATE: 27 March 2014
THE PENSIONS AUTHORITY PRESCRIBED GUIDANCE IN RELATION TO SECTION 49 OF THE PENSIONS ACT, 1990 VERSION 02 DATE: 27 March 2014 INDEX Paragraph Contents Page 1. INTRODUCTION 2 2. GENERAL 3 2A REQUIREMENTS
More informationA positive outlook on auto-enrolment contributions phasing. High
A positive outlook on auto-enrolment contributions phasing High Summary UK businesses are focusing on securing the organisation s future by strengthening their competitive position, increasing revenue
More informationWELCOME TO THE AIRBUS GROUP UK RETIREMENT PLAN
? WELCOME TO THE AIRBUS GROUP UK RETIREMENT PLAN Member booklet The is an important part of your reward package. This booklet explains the benefits that are available when you join the Plan, and the options
More informationAn update from Pace. What s inside this issue? Autumn 2014
An update from Pace Autumn 2014 Welcome to our annual update. The big news this year is that the Government wants to change the pensions rules to give you even more flexibility and freedom to use your
More informationProfessional Diploma in Applied Alternative Investments 18
Professional Diploma in Applied Alternative Investments 18 19 Postgraduate Education 2018/2019 www.iob.ie/postgrad Who we are The Institute of Banking The Institute of Banking is the largest professional
More informationUnderstanding pensions. A guide for people living with a terminal illness and their families
Understanding pensions A guide for people living with a terminal illness and their families 2015-16 Introduction Some people find that they want to access their pension savings early when they re ill.
More informationO P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET
O P Q RETIREMENT & DEATH BENEFITS PLAN For Employees of The OPQ Company MEMBERS' BOOKLET APRIL 2017 EDITION Reviewed December 2017 CONTENTS PAGE 2 INTRODUCTION 3 DEFINITIONS 6 FREEDOM AND CHOICE 8 JOINING
More informationJoint Institute Pensions Survey 2014
Joint Institute Pensions Survey 2014 Joint Institute Pensions Survey 2014 Executive Summary This year s inaugural Joint Institute Pensions Survey has made a number of notable findings. Key trends include:
More informationPLANNING FOR RETIREMENT.
PLANNING FOR RETIREMENT I needed advice about my pension and ISAs. Choice took everything in hand and sorted it out with the minimum of fuss and maximum of efficiency. Clive Southampton Planning For Retirement
More informationapply for a super payout
HOW TO apply for a super payout STEP 1 CHECK THAT YOU RE ELIGIBLE You wish to receive part or all of your super payout in cash A portion of your super benefit may be preserved. If the preserved amount
More informationWorkplace pensions Frequently asked questions. This leaflet answers some of the questions you may have about workplace pensions
Workplace pensions Frequently asked questions This leaflet answers some of the questions you may have about workplace pensions July 2013 Page 1 of 16 About workplace pensions Q1. Is everyone being enrolled
More informationTitle Mr Mrs Ms Miss Other M/F Date of birth / / Given names - - Step 2A What form of identification will you need to provide?
Contributions Splitting Application If you need help Call the Helpline 1800 682 626. Step 1 Complete your personal details Please print in black or blue pen, in uppercase, one character per box. A Title
More informationTRUSTEE MATTERS NEWSLETTER
TRUSTEE MATTERS NEWSLETTER 1st March 2016, Volume 1, Issue 1 Welcome to our first edition of what we have titled Trustee Matters newsletter. Our newsletter intends to provide you with a range of topical
More informationKey Features of the Prudential Stakeholder Pension Plan
Key Features of the Prudential Stakeholder Pension Plan Please read this document along with your personal illustration (if you have one) before you decide to buy this plan. It s important you understand
More informationStakeholder pensions and decision trees
Stakeholder pensions and decision trees How stakeholder pensions work and when they are a good choice for saving for retirement The options available Things to consider Deciding if a stakeholder pension
More informationNATIONAL PENSION STRATEGY
FEBRUARY 2016 NATIONAL PENSION STRATEGY An Ireland for all. MICHAEL McGRATH FIANNA FÁIL SPOKESPERSON ON FINANCE Executive summary Pension provision is an issue which should concern everyone in society,
More informationEngaging with your Pension
Engaging with your Pension Tuesday 18 May 2010 David Malone Head of Information The Pensions Board The Pensions Board Established by the Pensions Act, 1990 Operations: Supervision, regulation and enforcement
More informationVAT Seminar Holding Companies and VAT: From A to Z
The Cyprus Fiduciary Association proudly presents: VAT Seminar Holding Companies and VAT: From A to Z Wednesday, 21 February 2018 09:00 13:30 Columbia Plaza Venue Centre Limassol Speaker Alexis Tsielepis
More informationFinancial Planning Report
{{TOC}} Financial Planning Report Prepared for: ABC Limited Prepared by: Independent Financial Adviser PPOL Penylan Mill Coed-y-Go Oswestry Shropshire SY10 9AF 06/04/2016 SUITABILITY REPORT Different Introductions
More informationIRISH CONGRESS OF TRADE UNIONS RESPONSE TO PENSIONS AUTHORITY CONSULTATION ON TRUSTEE QUALIFICATION
IRISH CONGRESS OF TRADE UNIONS RESPONSE TO PENSIONS AUTHORITY CONSULTATION ON TRUSTEE QUALIFICATION September 2015 Congress Response The Pensions Authority has commenced yet another consultation - this
More informationA brief guide to the Local Government Pension Scheme (LGPS)
A brief guide to the Local Government Pension Scheme (LGPS) Employees in England and Wales - April 2015 Dorset County Pension Fund A brief guide to the Local Government Pension Scheme 1 Highlights of the
More informationReference and administrative details
Annual Report and Financial Statements 2014 For the year ended 31 December 2014 Reference and administrative details For the year ended 31 December 2014 Company number 1262100 Registered office and operational
More informationThe AC to the DC: a comprehensive look at DC pension trends
PMI Technical Seminars The AC to the DC: a comprehensive look at DC pension trends Wednesday 29th November 2017 Tower Place West, London KINDLY HOSTED BY MEDIA PARTNERS Sir Steven John Webb Director of
More informationTHE XYZ Pension and Life Assurance Scheme. Members Booklet April 2018 Edition. For Employees of the XYZ Company
THE XYZ Pension and Life Assurance Scheme Members Booklet April 2018 Edition For Employees of the XYZ Company Reviewed May 2018 1 CONTENTS Page 3 OVERVIEW 4 TERMS USED IN THIS BOOKLET 8 GENERAL 9 CONTRIBUTIONS
More informationWorkplace pensions - Frequently Asked Questions
Workplace pensions - Frequently Asked Questions This leaflet answers some of the questions you may have about workplace pensions. Q1. Is everyone being enrolled into a workplace pension? Q2. When will
More informationCongratulations to the PMI s April 2017 Prize Winners
Congratulations to the PMI s April 2017 Prize Winners The PMI is delighted to recognise the outstanding performances of the Prize Winners following the April 2017 examinations. In each Unit, one candidate
More informationA Guide to the LGPS The Local Government Pension Scheme (LGPS)
AVON PENSION FUND A Guide to the LGPS The Local Government Pension Scheme (LGPS) Contents The scheme joining and what do I pay?... 1 Flexibility to pay more or less...4 Your Pension how it s worked out...5
More informationThe Independent Governance Committee s annual report for the year ending 31 March 2018 for the EasyBuild Stakeholder Pension Scheme
for the EasyBuild Stakeholder Pension Scheme for the EasyBuild Stakeholder Pension Scheme We are here for you Dear EasyBuild Member As Chair of your Independent Governance Committee (IGC), I am delighted
More informationContributions Splitting Application
Alcoa of Australia Retirement Plan Contributions Splitting Application Before completing this form please read the factsheet Splitting super contributions in Alcoa of Australia Retirement Plan available
More informationYour Guide. to the Plumbing Industry Pension Scheme
Your Guide to the Plumbing Industry Pension Scheme Plumbing and Mechanical Services (UK) Industry Pension Scheme 2 Contents 3 Introduction 4 Meaning of Words Used 6 Joining the Scheme 7 Cost of Membership
More informationJERSEY GAMBLING COMMISSION. Advice: Membership Gambling Services
JERSEY GAMBLING COMMISSION Advice: Membership Gambling Services November 2016 1 Introduction If you run or are a member of a private card club or any other private club that allows gambling, you should
More informationInternational Money and Banking: 3. Liquidity and Solvency
International Money and Banking: 3. Liquidity and Solvency Karl Whelan School of Economics, UCD Spring 2018 Karl Whelan (UCD) Liquidity and Solvency Spring 2018 1 / 17 Liquidity and Solvency: Definition
More informationSynergy Personal Pension
Synergy Personal Pension Key features This is an important document. Please read it and keep for future reference. For new policies from 1 September 2014 When buying a financial product, it is important
More informationAutumn 2012 Kirby Sigston Church (near Northallerton)
Autumn 2012 Kirby Sigston Church (near Northallerton) LGPS 2014 Update In the last Pensions Focus we outlined the main changes that are set to take place in the new pension scheme. We are now able to give
More information- Managing Risks and Opportunities
PMI Technical Seminars Climate Issues and Today s Trustee - Managing Risks and Opportunities Tuesday 5 th December 2017 KINDLY HOSTED BY: MEDIA PARTNERS The Event The Climate Issues and Today's Trustees
More informationConsidering a Tax Qualification?
Considering a Tax Qualification? Choose a Tax Qualification that Suits your Needs Chartered Tax Adviser (CTA) Become an Expert in Tax The gold standard in tax education, the Chartered Tax Adviser (CTA)
More informationSynergy PRSA AVC for medical professionals Your guide to how it works
Synergy PRSA AVC for medical professionals Your guide to how it works Contents 03 Introduction to a Synergy Personal Retirement Savings Account 04 Why choose Standard Life? 06 You decide how your money
More informationPrivate sector contractors in a public service pension scheme Received: 6th March, 2000
Private sector contractors in a public service pension scheme Received: 6th March, 2000 Mike Ratcliffe, a Public Finance Accountant and Fellow of the Pensions Management Institute, is the Managing Director
More informationACTUARIES' CLUBS AND THE SOCIETY OF ACTUARIES
TRANSACTIONS OF SOCIETY OF ACTUARIES 1951 VOL. 3 NO. 6 ACTUARIES' CLUBS AND THE SOCIETY OF ACTUARIES A. How can Actuaries' Clubs be best adapted to varying local conditions, such as the number of members
More informationLocal Government Pension Scheme (LGPS)
A Brief Guide to the Local Government Pension Scheme (LGPS) Employees in England and Wales April 2017 www.norfolkpensionfund.org If you need this information in large print, audio, Braille, alternative
More informationNEST s Employer Terms and Conditions are changing
NEST s Employer Terms and Conditions are changing NEST s Employer Terms and Conditions are subject to change over time. This document contains two sets of NEST s Employer Terms and Conditions. The first
More informationThe Chapter 13 staff wishes to extend Seasons Greetings and best wishes for the New Year to the bankruptcy community!
Chapter 13 Quarterly Newsletter December 2016 1. Season's Greetings and Best Wishes for the New Year The Chapter 13 staff wishes to extend Seasons Greetings and best wishes for the New Year to the bankruptcy
More informationProfessional Footballers. Pension Scheme Section. A Guide for Players
Professional Footballers 2011 Section A Guide for Players Professional Footballers Contents Introduction 3 Summary 4 Definitions 5 Eligibility 6 Contributions 7 Investment 9 Benefits on Retirement 12 Benefits
More informationOrder and rules summary. A guide to help you understand the small print
Order and rules summary A guide to help you understand the small print Contents About this guide The people who run NEST 3 How this guide works 3 Section 01 NEST's product features 4 Section 02 Using NEST
More informationMaltese Financial Regulation
Maltese Financial Regulation Dates: January 2016-25 th, 29 th February 2016-1 st, 5 th, 8 th, 12 th, 17 th Time: 16:00 to 19:00 Venue: MFSA, Conference Hall, Notabile Road, Attard Overview The main objective
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondents Mr N Kepston Retirement Benefit Scheme (the Scheme) - defined contribution scheme replacement policy (the Policy) Aviva, JLT Benefits Solutions Ltd
More informationweb: Tel: Fax: Gaysham Avenue, Gants Hill, Ilford, Essex,
Enrolment & Fees 2017-2018 Contents Find out more 4 Enrol 5 How much do you pay? 6 What evidence do you need to provide? 7 Additional Costs 8 Financial Help 9 Paying by Instalments 9 Changed your mind?
More informationWinning Powerball (Australia) is Easy. 3. How Our Private Powerball Syndicates Work Private Powerball Syndicates as a Business...
CONTENTS Winning Powerball (Australia) is Easy. 3 How Our Private Powerball Syndicates Work... 6 Private Powerball Syndicates as a Business... 8 But, Why Should You Listen To Me?... 10 Ok, But How Does
More informationSHPS Forums Q&As October 2016
SHPS Forums Q&As October 2016 Financial update How do the Committee decide on valuation assumptions? The Scheme Actuary advises the SHPS Committee (the Committee) on the financial and demographic assumptions
More information