Irish Life annuity buy-in transaction: largest deal in the Irish market over the last year
Posted onIrish Life has completed a €133 million bulk annuity onboarding transaction with the trustees of Greencore plc’s Irish defined benefit pension scheme. It marks the largest bulk annuity transaction to take place in the Irish market over the last year.. The €133 million ‘bulk annuity’ contract is an insurance policy taken out by the Trustee of the Greencore Group pension scheme with Irish Life and is held by the Trustee as an asset of the scheme’s wider investment portfolio. The policy… Continue reading →
Interest rates push pension buy-in market over €1bn mark
Posted onIrish Life says early stage ‘mega deals’ may yet drive defined benefit fund deals to even greater heights.
Irish Independent - Fearghal O'Connor
Irish Life has seen a huge jump in its defined benefit buy-in business, a market that has now topped a billion euro per annum on the back of high interest rates.
The business involves the transfer of defined benefit schemes from the books of a company to that of large insurance firms such as Irish Life, which commands about 50pc of… Continue reading →
Changes to our Bank Accounts
Posted onPlease note that our Ulster Bank accounts are now due to close. It is important to understand that Irish Life may not have any visibility of or receive notification of any payment made to our Ulster Bank accounts after 5th May 2023. Therefore, it is important to be mindful of regulatory requirements and employer responsibility around the remittance of monthly pension contributions and to ensure all payments are made to the correct Irish Life account with AIB.
As you may know, both… Continue reading →
Christmas closing arrangements 2022
Posted onIrish Life will close for the Christmas period on Friday, 23 December 2022 at 12pm and will re-open on Tuesday, 3 January 2023 at 9am.Depending on the method you use for paying regular contributions this will mean the following:Payments into Defined Contribution (DC) arrangements {wrapper}Customers paying by Electronic Funds Transfer (EFT){block} Payments received on or between 21 December and 30 December 2022 will be invested using the unit prices declared for 30 December 2022. Payments… Continue reading →
Christmas closing arrangements 2023
Posted onIrish Life will close for the Christmas period on Friday, 22 December 2023 at 12pm and will re-open on Tuesday, 2 January 2024 at 9am.Depending on the method you use for paying regular contributions this will mean the following:Payments into Defined Contribution (DC) arrangements {wrapper}Customers paying by Electronic Funds Transfer (EFT){block} Payments received on or between 20 December and 31 December 2023 will be invested using the unit prices declared for 31 December 2023. Payments… Continue reading →
Enhanced Annuity Product Update
Posted onEnhanced Annuity Product - Important Update
Irish Life launched the innovative enhanced annuity a number of years ago. However, customer take up has been very low and following a review of alternative customer outcomes, we plan to cease offering our enhanced annuity product to new customers from the end of 2022. This decision is largely driven by the low level of take-up and the challenges of keeping this complex product operational while sales volumes remain at this low level.
From the start… Continue reading →
Winners of the Irish Pension Scheme of the Year 2022
Posted on
Irish Life Corporate Business won at the Irish Pension Awards 2022 ceremony!
We were absolutely thrilled to win in the category of Irish Pension Scheme of the Year for our EMPOWER Master Trust Award and are so proud of all our people across the business that made this possible.
This award is fantastic recognition for our market leading EMPOWER Master Trust proposition and is a reflection of the expertise, commitment and professionalism of all our people… Continue reading →
Important: Making Payments
Posted onWhen making any lump sum once-off payments to Irish Life Corporate Business, please note that we will only ever ask you to transfer money into an Irish Life account, see details here.
Irish Life Corporate Business remains a customer of Ulster Bank and we will communicate with our customers when our new bank details are available.
If in any doubt, please contact us on 01 704 1845.
David McWilliams Podcast - How your pension could help the planet
Posted onThe latest episode of the David McWilliams Podcast features our own Sandra Rockett - Director of Wealth & Corporate Distribution Irish Life Investment Managers aiming to inform the people of Ireland about the crucial link between pensions and the planet.
Check it out on Spotify, Apple Music or Acast.
Spotify Link – https://open.spotify.com/episode/1f20mILnWEco9mGRfKgwA5
Apple Music Link - https://podcasts.apple.com/gb/podcast/the-crucial-link-between-the-planet-and-your-… Continue reading →
Market Value Adjustment: Secured Performance Fund, Capital Protection Fund
Posted onCurrent Market Value Adjustments (MVA)
With effect from 4 December 2023, the Market Value Adjustment (MVA) for the Pension Capital Protected Fund is 0% of the published price.
With effect from 12 April 2023, the Market Value Adjustment (MVA) for the Capital Protection Fund is 0% of the published price.
With effect from 23 December 2013, the Market Value Adjustment (MVA) for the Secured Performance Fund is 0% of the published price.… Continue reading →
