Member Communication - Company Pension Plan
As a pension advisor, one of the major challenges you face is educating employees about their pension plan. It is important that employees have the appropriate information about their pension when they join the plan and get timely, relevant information on an ongoing basis once they are part of the pension plan.
The communication employees can expect from us includes the following.
Member schedule or company pension plan member booklet
When an employee joins a company pension scheme, they will be issued with a member schedule and booklet (New Entrant Pack). These give details on the company pension scheme including contributions, death benefits and any ill-health cover that may apply.
Pension benefit statement
Where we are appointed as the Registered Administrator we will issue employees with an annual pension benefit statement. This statement gives a breakdown of all contributions paid, charges deducted, as well as current values of the pension fund. The benefit statement also provides future projected values, giving members an idea of the level of retirement fund they can expect. The statement also provides details of life assurance and income protection benefits that may apply.
Pension Planet Interactive
Pension Planet Interactive is an online facility that allows employees to check the value of their pension plan and also see the contributions made to the plan. Once the plan trustees sanction it, all employees have the use of this facility. They simply log on to www.pensionplanetinteractive.ie and register their details to begin.
Link to register for Pension Planet Interactive
Find out more about Pension Planet Interactive
Irish Life EMPOWER
Irish Life EMPOWER is a simple app designed to help you plan for your retirement. It's your individual pension calculator on-the-go and lets you take control of your pension. This app will help you to stay up to date with the progress of your pension and offers lots of useful information about your plan and investment details. Irish Life EMPOWER is for policy holders of a Personal Retirement Savings Account (PRSA) and members of private sector Defined Contribution (DC) and Additional Voluntary Contribution (AVC) schemes administered by Irish Life Corporate Business.
iPhone/iPad users can download Irish Life EMPOWER from the Apple Store and Android users can download the app from the Google Play Store.
Pension education - saving for retirement
We have a team of suitably qualified professionals (the AIM team) who work in partnership with advisors and employers to inform employees about the pension scheme. The AIM team offers presentations to employees as well as one-to-one consultations. For more information on this service, simply talk to your Irish Life Corporate Business Account Manager.
Investment fund update
We produce monthly fund factsheets on all the funds provided by us. We update these on our website, in the investment centre section, every month with the latest fund price and fund information. Here you can also find weekly and monthly investment commentaries.
