Employee Benefits Pensions

Employee Benefits Pensions

In today’s competitive marketplace employee benefits have emerged as essential tools used by companies to attract, incentivise and retain key staff members.

Corporate Pension Plan

A Corporate Pension Plan is a formal arrangement between a company and its employees that provide retirement planning benefits for the employees. The funding can be financed in various ways e.g. by the employer or with contributions made by the employee matched by the employer.   

Corporate Multi Member Retirement Trust Scheme

Multi member Corporate Retirement Trust Schemes differs from a Corporate Pension Plan in that each individual staff member has their own retirement trust – a sub-trust of the master trust deed. As the employee has their own personal pension plan, rather than being part of a larger company scheme, they have more say in how the pension funds are invested and usually have a wide range of investments to choose from.

This also allows greater freedom should the employee leave the company, as they can simply take their pension with them. This avoids the bureaucratic headache of on-going communication with “deferred members” as an employer has to do with a conventional company pension plan. 

Employee Benefits Pensions

Employee Benefits Pensions

In today’s competitive marketplace employee benefits have emerged as essential tools used by companies to attract, incentivise and retain key staff members.

Corporate Pension Plan

A Corporate Pension Plan is a formal arrangement between a company and its employees that provide retirement planning benefits for the employees. The funding can be financed in various ways e.g. by the employer or with contributions made by the employee matched by the employer.   

Corporate Multi Member Retirement Trust Scheme

Multi member Corporate Retirement Trust Schemes differs from a Corporate Pension Plan in that each individual staff member has their own retirement trust – a sub-trust of the master trust deed. As the employee has their own personal pension plan, rather than being part of a larger company scheme, they have more say in how the pension funds are invested and usually have a wide range of investments to choose from.

This also allows greater freedom should the employee leave the company, as they can simply take their pension with them. This avoids the bureaucratic headache of on-going communication with “deferred members” as an employer has to do with a conventional company pension plan. 

Copyright © 2019 European Insurance Brokers.
EIB is the trading name of European Insurance Brokers who are regulated by the Jersey Financial Services Commission
All rights reserved.