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  1. <p>Strictly Private &amp; Confidential</p>
  2.  
  3. <p>
  4. <strong>[pm_title] [pm_forename] [pm_surname]</strong><br />[pmad_addr_1]<br />[pmad_addr_2]<br />[pmad_addr_3]<br />[pmad_addr_4]<br />[pmad_addr_5]<br /><br />
  5.  
  6. Your Annual Benefit Statement [1]
  7. </p>
  8.  
  9. <p><strong>[psc_desc]</strong></p>
  10. <p>Dear [pm_title] [pm_surname],</p>
  11.  
  12. <p>We are pleased to enclose for your attention a personal benefit statement that summarises your current entitlements under the above Scheme.  This is an important document and we would ask that you take some time to confirm the accuracy of the information contained within and to review the benefits as they apply to you. If you are paying Additional Voluntary Contributions (AVCs) these will be detailed in a separate document and are not accounted for herein.</p>
  13.  
  14. <p>Your personal benefit statement is issued subject to the rules of the Scheme. Your Member’s explanatory booklet provides a summary of the main benefits being provided under the Scheme.  Should you require a copy of the Scheme rules and/or the Member’s explanatory booklet please contact your HR Department.</p>
  15.  
  16. <p>Please refer to the note below regarding the nature of this statement and its relationship to the Scheme rules.</p>
  17.  
  18. <p>The effective date of this statement is [1]. </p>
  19.  
  20. <p>Yours sincerely,</p>
  21. <p><em>[psa_name1(ADMIN)]</em></p>
  22. <p><em>Scheme Administrator</em></p>
  23.  
  24. <br />
  25. <h2>Personal Details</h2>
  26.  
  27. <p>Outlined below is the personal information held on our records.  If any of these details are incorrect or have changed, please inform your HR Department, so that the changes are updated.  Contact details for your HR Department are contained later in this document.</p>
  28.  
  29. <table>
  30. <tr>
  31. <th style="WIDTH: 421px; HEIGHT: 20px">Name:</th>
  32. <td style="WIDTH: 400px; HEIGHT: 20px">[pm_forename] [pm_surname]</td>
  33. </tr>
  34. <tr>
  35. <th>Date of birth: </th>
  36. <td>[pm_dob]</td>
  37. </tr>
  38. <tr>
  39. <th>PPS number: </th>
  40. <td>[pm_rsi_num]</td>
  41. </tr>
  42. <tr>
  43. <th>PPS number: </th>
  44. <td>[pm_pay_num]</td>
  45. </tr>
  46. <tr>
  47. <th>Marital status: </th>
  48. <td>[8]</td>
  49. </tr>
  50. <tr>
  51. <th>Gender:</th>
  52. <td>[9]</td>
  53. </tr>
  54. <tr>
  55. <th>Date joined company: </th>
  56. <td>[pm_dec]</td>
  57. </tr>
  58. <tr>
  59. <th>Date joined scheme: </th>
  60. <td>[pm_djp]</td>
  61. </tr>
  62. <tr>
  63. <th>Normal retirement age: </th>
  64. <td>[pm_npa]<sup>th</sup> birthday</td>
  65. </tr>
  66. <tr>
  67. <th>Salary: </th>
  68. <td>&euro;[76]</td>
  69. </tr>
  70. <tr>
  71. <th>Pensionable Salary: </th>
  72. <td>&euro;[77]</td>
  73. </tr>
  74. <tr>
  75. <th>Final pensionable salary: </th>
  76. <td>&euro;[78]</td>
  77. </tr>
  78. <tr>
  79. <th>Part time employee: </th>
  80. <td>[12]</td>
  81. </tr>
  82. <tr>
  83. <th>Part time %: </th>
  84. <td>[13]</td>
  85. </tr>
  86. <tr>
  87. <th>Pensionable service to normal retirement date: </th>
  88. <td>[122] years</td>
  89. </tr>
  90. <tr>
  91. <th>Scheme service to renewal date: </th>
  92. <td>[114] years</td>
  93. </tr>
  94. <tr>
  95. <th>Transfer payment received from a previous plan: </th>
  96. <td>[15]</td>
  97. </tr>
  98. <tr>
  99. <th>Pension adjustment order received: </th>
  100. <td>[11]</td>
  101. </tr>
  102. </table>
  103. <p><em>Explanatory Note(s);</em></p>
  104. {if([pm_status]=2)then}
  105. <ul>
  106. <li><em>Pensionable salary is determined on October 1st, each year, and is your annual rate of basic</em><em> salary, shift allowance (if any) and contracted overtime (if any) at 1st October , less 1.5 times the State offset.</em></li>
  107. <li><em>Final Pensionable Salary is the average of your Pensionable Salaries on 1st October in each of the 3 consecutive years when such salary was at its highest in the ten years before Normal Retirement Date (or the date of early retirement, if you retire early, or the date of leaving service, if you leave before retirement).</em></li>
  108. <li><em>If you are a part-time member of the scheme, displayed above is your actual salary, your full time equivalent Pensionable Salary/Final Pensionable Salary and your service has been proportioned to take account of your working hours.</em></li>
  109. <li><em>Pensionable Service is subject to a maximum of 40 years and means the total number of complete and continuous years and months of Service you accrue with the Company (or any of its affiliates) before Normal Retirement Date or earlier retirement or leaving service.</em></li>
  110. <li><em>Unless otherwise notified any unpaid period of absence e.g. while on a leave of absence, career break or other break in service will not count towards your retirement benefits and is excluded from your Pensionable Service as shown.</em></li>
  111. <li><em>If you have Additional Voluntary Contributions (AVCs) they are treated on a Defined Contribution (DC) basis and will be illustrated in a separate document.</em></li>
  112. </ul>
  113. {end if}
  114. {if([pm_status]!2)then}
  115. <ul>
  116. <li><em>Pensionable Salary is defined as salary, (where salary is defined as your basic annual salary at the renewal date excluding all other items of remuneration such as commissions, bonus payments and any other fluctuating emoluments) less a deduction equal to 1.5 times the State pension payable to a single person.</em></li>
  117. </ul>
  118. <table class="noborder">
  119. <tr>
  120. <td>In your case: </td>
  121. <td>Actual salary </td>
  122. <td> = </td>
  123. <td>€[76]</td>
  124. </tr>
  125. <tr>
  126. <td></td>
  127. <td>Full-time equivalent </td>
  128. <td> = </td>
  129. <td>€[79]</td>
  130. </tr>
  131. <tr>
  132. <td></td>
  133. <td>Annual rate of basic salary </td>
  134. <td> = </td>
  135. <td>€[79]</td>
  136. </tr>
  137. <tr>
  138. <td></td>
  139. <td>1.5 times State Offset</td>
  140. <td> = </td>
  141. <td>€[133]</td>
  142. </tr>
  143. <tr>
  144. <td></td>
  145. <td>Pensionable salary</td>
  146. <td> = </td>
  147. <td>€[77]</td>
  148. </tr>
  149. </table>
  150. <ul>
  151. <li><em>Final Pensionable Salary is the average of your Pensionable Salaries on 1st October in each of the 3 consecutive years when such salary was at its highest in the ten years before Normal Retirement Date (or the date of early retirement, if you retire early, or the date of leaving service, if you leave before retirement).</em></li>
  152. <li><em>If you are a part-time member of the scheme, displayed above is your actual salary, your full time equivalent Pensionable Salary/Final Pensionable Salary and your service has been proportioned to take account of your working hours.</em></li>
  153. <li><em>Pensionable Service is subject to a maximum of 40 years and means the total number of complete and continuous years and months of Service you accrue with the Company (or any of its affiliates) before Normal Retirement Date or earlier retirement or leaving service.</em></li>
  154. <li><em>Unless otherwise notified any unpaid period of absence e.g. while on a leave of absence, career break or other break in service will not count towards your retirement benefits and is excluded from your Pensionable Service as shown.</em></li>
  155. <li>
  156. <em>If you have Additional Voluntary Contributions (AVCs) they are treated on a Defined Contribution (DC) basis and will be illustrated in a separate document.</em><br />
  157. </li>
  158. </ul>
  159. {end if}
  160. <h2>Expected Benefits at Normal Retirement Date</h2>
  161. <p>If you remain in service until your normal retirement date, based on the salary details outlined on page 2, the benefits payable would be:</p>
  162. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  163. <tr>
  164. <th width="61%" valign="top"><p>Benefit description</p></th>
  165. <th width="19%" valign="top"><p align="right">Amount payable</p></th>
  166. <th width="19%" valign="top"><p align="right">% of Current Salary</p></th>
  167. </tr>
  168. <tr>
  169. <td width="61%" valign="top">
  170. <p>
  171. Pension Expectation<br />
  172. 1 / [56]<sup>th</sup> x Pensionable Service x Final Pensionable Salary
  173. </p>
  174. <p>1 / [56]<sup>th</sup> x [122] years x €[78] </p>
  175. </td>
  176. <td width="19%" valign="top">
  177. <p align="right">&nbsp;</p>
  178. <p align="right">€[134] p.a.</p>
  179. </td>
  180. <td width="19%" valign="top">
  181. <p align="right">&nbsp;</p>
  182. <p align="right">[211]%</p>
  183. </td>
  184. </tr>
  185. <tr>
  186. <th width="61%" valign="top"><p align="center">Or</p></th>
  187. <th width="19%" valign="top"><p align="right">&nbsp;</p></th>
  188. <th width="19%" valign="top"><p align="center">&nbsp;</p></th>
  189. </tr>
  190. <tr>
  191. <td width="61%" valign="top">
  192. <p>
  193. Tax Free Lump Sum<br />
  194. 3/80ths x Pensionable Service x Final Pensionable Salary
  195. </p>
  196. <p align="center">And</p>
  197. </td>
  198. <td width="19%" valign="top">
  199. <p align="right">&nbsp;</p>
  200. <p align="right">€[138] </p>
  201. </td>
  202. <td width="19%" valign="top"><p align="right">&nbsp;</p></td>
  203. </tr>
  204. <tr>
  205. <td width="61%" valign="top">
  206. <p>
  207. Reduced Pension<br />
  208. Pension Expectation – (Tax Free Lump Sum  /  Current Commutation Factor)<br />
  209. €[134] - (€[138] / [65])
  210. </p>
  211. </td>
  212. <td width="19%" valign="top">
  213. <p align="right">&nbsp;</p>
  214. <p align="right">€[139] p.a.</p>
  215. </td>
  216. <td width="19%" valign="top"><p align="right">&nbsp;</p></td>
  217. </tr>
  218. </table>
  219. <p><em>Explanatory Note(s);</em></p>
  220. <ul>
  221. <li><em>Your pension will be payable by monthly instalments from the date of your retirement.  Payments will continue as long as you live. Under current legislation, pensions are liable to tax in the same way as salary.</em></li>
  222. <li><em>Your pension is guaranteed for 5 years, therefore, if you die during the first five years of retirement, the payments due for the remainder of the five years may be continued to your Dependants for those five years, or may be paid as a lump sum to your Beneficiaries or your estate.</em></li>
  223. <li><em>There is no commitment to increase pensions from the Plan during payment. The Rules do, however, allow the Trustees to review pensions in payment and, where the Company approves, to provide discretionary increases. Details of any discretionary increases will be provided in the annual report from the Trustees and you will be notified of any increase applying to your pension.</em></li>
  224. <li><em>With the consent of the company and subject to Revenue Maxima Limits, you have the option of exchanging part of your pension for a once off tax-free cash sum when your pension becomes payable.  The maximum tax free lump sum available for those retiring at normal retirement date with more than 20 years company service completed is 150% of final remuneration to a maximum lump sum of €[69] as at [1].  A sliding scale applies to members with shorter service.</em></li>
  225. <li><em>If you are retiring due to exceptional circumstances of serious ill health you may be able to exchange your entire pension for cash but tax would be payable on the amount in excess of normal limits referred to above.</em></li>
  226. <li><em>You may at the date of your retirement exchange a limited part of your pension in order to provide a pension for a nominated dependant after your death.</em></li>
  227. <li>
  228. <em>The value of any transfer value received into the plan will be treated on a defined contribution basis and as such will also be payable in addition to the benefits outlined above.</em><br clear="all">
  229. </li>
  230. </ul>
  231. <br />
  232. <h2>Dependants Benefits on Death In Retirement</h2>
  233. <p>The following benefits are payable on your death in retirement after normal retirement date:</p>
  234. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  235. <tr>
  236. <th width="74%" valign="top"><p>Benefit description</p></th>
  237. <th width="25%" valign="top"><p align="right">Amount payable</p></th>
  238. </tr>
  239. <tr>
  240. <td width="74%" valign="top">
  241. <p>
  242. Dependants death in retirement pension<br />
  243. [44] % of Member’s Pension Expectation (Based on Final Pensionable Salary)<br />
  244. [44] % x €[134]
  245. </p>
  246. </td>
  247. <td width="25%" valign="top">
  248. <p align="right">&nbsp;</p>
  249. <p align="right">€[182] </p>
  250. </td>
  251. </tr>
  252. </table>
  253. <p><em>Explanatory Note(s);</em></p>
  254. <ul>
  255. <li><em>If you were married on or before you retired and had notified the Trustees of your marriage, a Spouses pension as outlined above is payable to your surviving Spouse.</em></li>
  256. <li><em>The Spouses pension will be payable from the date of your death.</em></li>
  257. <li><em>There is no commitment to increase the spouse’s pension from the Plan during payment. The Rules do, however, allow the Trustees to review pensions in payment and, where the Company approves, to provide discretionary increases. Details of any discretionary increases will be provided in the annual report from the Trustees.</em></li>
  258. <li><em>The spouse’s pension will be reduced actuarially if your spouse is more than 10 years younger than you.</em></li>
  259. </ul>
  260.  
  261. <br />
  262. <h2>Dependants Benefits On Death In Service</h2>
  263. <p>The following benefits are payable on your death in service before normal retirement date:</p>
  264. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  265. <tr>
  266. <th width="74%" valign="top"><p>Benefit description</p></th>
  267. <th width="25%" valign="top"><p align="right">Amount payable</p></th>
  268. </tr>
  269. <tr>
  270. <td width="74%" valign="top"><p>Lump sum death benefit of [41] times salary</p></td>
  271. <td width="25%" valign="top"><p align="right">€[179]</p></td>
  272. </tr>
  273. <tr>
  274. <td width="74%" valign="top">
  275. <p>
  276. Dependants death in service pension<br />
  277. [42]% of Pension Expectation ( Based on Pensionable Salary)<br />
  278. [42]% x €[135]
  279. </p>
  280. </td>
  281. <td width="25%" valign="top">
  282. <p align="right">&nbsp;</p>
  283. <p align="right">€[180]</p>
  284. </td>
  285. </tr>
  286. </table>
  287. <p><em>Explanatory Note(s);</em></p>
  288. <ul>
  289. <li><em>In addition to the lump sum benefit outlined above if you make additional voluntary contributions (AVC’s) the value of these contributions will also be available to your beneficiaries on your death and can be paid in lump sum form, and if a transfer value has been received into the plan on your behalf from a previous employer’s pension fund the value of this transfer will also be available to your beneficiaries however this may not always be payable in lump sum form.</em></li>
  290. <li><em>The death in service benefits shown above may be subject to insurers’ medical requirements.  If any medical evidence is required of you or any restrictions apply to your benefits, you will be notified.  All death in service benefits quoted above are subject to confirmation by the scheme insurers.<strong> </strong></em></li>
  291. <li><em>Death in service benefits cease on your normal retirement date i.e. your [pm_npa] birthday.<strong> </strong></em></li>
  292. <li><em>Lump sum death benefits are paid in accordance with the rules of the Scheme and at the Trustees discretion. To make your wishes known regarding payment of benefits, you should complete a <strong>Wishes Form</strong> and forward this to your HR Department for safekeeping.  Your HR Department contact details are contained later in this document.</em></li>
  293. <li><em>If you were married and had notified the Trustees of your marriage, a pension as outlined above is payable to your surviving Spouse.</em></li>
  294. <li><em>The Spouses Pension is based on your Pension Expectation calculated using your Pensionable Salary at Date of Death rather than your Final Pensionable Salary, which is used for calculating all other pension entitlements.</em></li>
  295. <li><em>There is no commitment to increase the spouse’s pension from the Plan during payment. The Rules do, however, allow the Trustees to review pensions in payment and, where the Company approves, to provide discretionary increases. Details of any discretionary increases will be provided in the annual report from the Trustees.</em></li>
  296. <li>
  297. <em>The Spouses Pension may be actuarially reduced if your Spouse is more than 10 years younger than you</em><br />
  298. </li>
  299. </ul>
  300. <br />
  301. <h2>Employee Contributions</h2>
  302. <p>Details of employee contributions paid to the previous renewal year end are as follows: </p>
  303. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  304. <tr>
  305. <th width="73%" valign="top"><p>Benefit description</p></th>
  306. <th width="26%" valign="top"><p align="right">Amount payable</p></th>
  307. </tr>
  308. <tr>
  309. <td width="73%" valign="top"><p>Employee contributions paid to [2] </p></td>
  310. <td width="26%" valign="top"><p align="right">€[14] </p></td>
  311. </tr>
  312. </table>
  313. <p><em>Explanatory Note(s);</em></p>
  314. <ul>
  315. <li><em>The method of calculating contributions payable is set out in the Scheme rules and in the Member’s explanatory booklet.</em></li>
  316. <li><em>The information specified is issued on behalf of the Scheme trustees who are required under the provisions of section 59(1)(a) of the Pensions Act to ensure in so far as is reasonable, that contributions payable by the employer and the members of the scheme, where appropriate, are received.</em></li>
  317. <li><em>If you are concerned that contributions payable in your respect under the rules of the scheme have not been paid, you should contact the plan administrator and then if necessary, the Scheme trustees and your employer and then if necessary the Pensions Board.</em></li>
  318. </ul>
  319.  
  320. <br />
  321. <h2>Deferred Benefit If Service Terminated At [1]</h2>
  322. {if([232]<2)then}
  323. <p> If your employment was terminated on 01/10/2009, you would not yet have completed two years Qualifying Service. As a result you would be only be entitled to benefits on leaving based on any contributions your may have made to the Plan. You could choose to leave the contributions in the scheme and receive a deferred pension payable from Normal Retirement Age, transfer the value of your contributions to another exempt approved Occupational Pension Scheme or exempt approved insurance contract, or in certain circumstances you could obtain a refund of your contributions less a deduction for tax, currently 20%.</p>
  324. <p>Qualifying Service is the total of every period of service completed as a member included for retirement benefits in this or any other pension scheme of the Company.</p>
  325. <p>Please note that the above does not take account of any transfers in paid to the scheme on your behalf.</p>
  326. <p>Please also note that the life assurance cover provided by your employer ceases on leaving the Scheme.  In many cases this cover can be replaced quickly, cost effectively and with no need to provide medical evidence. If you require replacement cover on leaving please call Invesco Limited, contact details are contained later in this document. </p>
  327. {end if}
  328. {if([232]>1)then}
  329. <p> If your employment was terminated on [1], you would have received the following benefit payable from normal retirement date:</p>
  330. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  331. <tr>
  332. <th width="74%" valign="top"><p>Benefit description</p></th>
  333. <th width="25%" valign="top"><p align="right">Amount payable</p></th>
  334. </tr>
  335. <tr>
  336. <td width="74%" valign="top"><p>Deferred Pension<br />
  337. Pension Expectation x Accrued Pensionable Service / Potential Pensionable Service<br />
  338. €[134] x  [114] years /  [115] years </p></td>
  339. <td width="25%" valign="top"><p align="right">&nbsp;</p>
  340. <p align="right">€[162] p.a.</p></td>
  341. </tr>
  342. </table>
  343. <p><em>Explanatory Note(s);</em></p>
  344. <ul>
  345. <li><em>The preserved benefit will revalue each year from your date of leaving up to the calendar year end preceding your normal retirement date.  The annual revaluation will be the lesser value of 4% or the rate of increase in the Consumer Price Index.  </em></li>
  346. <li><em>Alternatively you could transfer the actuarial value of your deferred benefits to another exempt approved Occupational Pension Scheme or to an exempt approved insurance contract.</em></li>
  347. <li><em>The value of any transfer in received will be treated on a defined contribution basis and will also be payable in addition to the benefits outlined above.</em></li>
  348. <li><em>The value of any Additional Voluntary Contributions which you have paid will be treated on a defined contribution basis and will also be payable in addition to the benefits outlined above.</em></li>
  349. <li><em>Please note that the life assurance cover provided by your employer ceases on leaving the Scheme.  In many cases this cover can be replaced quickly, cost effectively and with no need to provide medical evidence. If you require replacement cover on leaving please call Invesco Limited, contact details are contained later in this document. </em></li>
  350. <li><em>In the unfortunate event of your death after leaving service but before receiving your deferred pension, the actuarial value of the deferred pension would be made available for the benefit of your dependants or your estate.</em></li>
  351. </ul>
  352. <br />
  353. <h2>Dependants Benefits On Death In Retirement</h2><h2>If Service Terminated At [1]</h2>
  354. <p>The following benefits are payable on your death in retirement following commencement of the deferred pension at your normal retirement date:</p>
  355. <table border="1" cellspacing="0" cellpadding="0" width="97%">
  356. <tr>
  357. <th width="74%" valign="top"><p>Benefit description</p></th>
  358. <th width="25%" valign="top"><p align="right">Amount payable</p></th>
  359. </tr>
  360. <tr>
  361. <td width="74%" valign="top"><p>Spouse’s death in retirement pension<br />
  362. [44]% of Member’s Deferred Pension<br />[44]% x €[162]</p></td>
  363. <td width="25%" valign="top"><p align="right">&nbsp;</p>
  364. <p align="right">€[163]p.a.</p></td>
  365. </tr>
  366. </table>
  367. <p><em>Explanatory Note(s);</em></p>
  368. <ul>
  369. <li><em>If you were married on or before you left service with the Company and had notified the Trustees of your marriage, a Spouses pension as outlined above is payable to your surviving Spouse.</em></li>
  370. <li><em>The Spouses pension will be payable from the date of your death.</em></li>
  371. <li><em>The spouse’s pension may be reduced actuarially if your spouse is more than 10 years younger than you.</em></li>
  372. </ul>
  373. {end if}
  374. {if([444]>0)then}
  375. <br />
  376. <h2>Additional Voluntary Contribution (AVC) Retirement Account</h2>
  377. <p>Please find below details of your Additional Voluntary Contributions and/or Transfer Values which have been paid into the Scheme.</p>
  378. <br />
  379. <h2>Your total Additional Voluntary Contributions to [304]</h2>
  380. <p>Listed below are the total contributions received by your fund(s) on your behalf since you joined the Scheme.</p>
  381. <table border="1" cellspacing="0" cellpadding="0" width="671">
  382. <tr>
  383. <th width="161" valign="top"><p>Total</p></th>
  384. <th width="132" valign="top"><p align="right">AVC</p></th>
  385. <th width="132" valign="top"><p align="right">Employee Special</p></th>
  386. <th width="123" valign="top"><p align="right">Transfer In</p></th>
  387. <th width="123" valign="top"><p align="right">Total</p></th>
  388. </tr>
  389. <tr>
  390. <th width="161" valign="top"><p>Contributions received </p></th>
  391. <td width="132" valign="top"><p align="right">€[310]</p></td>
  392. <td width="132" valign="top"><p align="right">€[309]</p></td>
  393. <td width="123" valign="top"><p align="right">€[311]</p></td>
  394. <td width="123" valign="top"><p align="right">€[312]</p></td>
  395. </tr>
  396. <tr>
  397. <th width="161" valign="top"><p>Fees deducted</p></th>
  398. <td width="132" valign="top"><p align="right">€[315]</p></td>
  399. <td width="132" valign="top"><p align="right">€[314]</p></td>
  400. <td width="123" valign="top"><p align="right">€[316]</p></td>
  401. <td width="123" valign="top"><p align="right">€[317]</p></td>
  402. </tr>
  403. <tr>
  404. <th width="161" valign="top"><p>Contributions invested</p></th>
  405. <td width="132" valign="top"><p align="right">€[320]</p></td>
  406. <td width="132" valign="top"><p align="right">€[319]</p></td>
  407. <td width="123" valign="top"><p align="right">€[321]</p></td>
  408. <td width="123" valign="top"><p align="right">€[322]</p></td>
  409. </tr>
  410. <tr>
  411. <th width="161" valign="top"><p>Pending Investment</p></th>
  412. <td width="132" valign="top"><p align="right">€[325]</p></td>
  413. <td width="132" valign="top"><p align="right">€[324]</p></td>
  414. <td width="123" valign="top"><p align="right">€[326]</p></td>
  415. <td width="123" valign="top"><p align="right">€[327]</p></td>
  416. </tr>
  417. </table>
  418. <p><em>Explanatory Note(s);</em></p>
  419. <ul>
  420. <li><em>'Pending Investment' is a term widely used by pension scheme administrators to describe the period of time in the contribution investment process cycle between the member’s record being up dated with contributions received and the time when the scheme’s investment manager provides formal details to the scheme administrator of the assets purchased.</em></li>
  421. </ul>
  422.  
  423. <br />
  424. <h2>Your Additional Voluntary Contribution’s in the period</h2><h2> [303] to [304]</h2>
  425. <p>Listed below are the total contributions invested in your fund(s) on your behalf for the period [303] to [304]</p>
  426. <table border="1" cellspacing="0" cellpadding="0" width="671">
  427. <tr>
  428. <th width="170" valign="top"><p>Received in Period</p></th>
  429. <th width="113" valign="top"><p align="right">AVC</p></th>
  430. <th width="132" valign="top"><p align="right">Employee Special</p></th>
  431. <th width="123" valign="top"><p align="right">Transfer In</p></th>
  432. <th width="132" valign="top"><p align="right">Total</p></th>
  433. </tr>
  434. <tr>
  435. <th width="170" valign="top"><p>[331]</p></th>
  436. <td width="113" valign="top"><p align="right">€[348]</p></td>
  437. <td width="132" valign="top"><p align="right">€[347]</p></td>
  438. <td width="123" valign="top"><p align="right">€[349]</p></td>
  439. <td width="132" valign="top"><p align="right">€[350]</p></td>
  440. </tr>
  441. <tr>
  442. <th width="170" valign="top"><p>[332]</p></th>
  443. <td width="113" valign="top"><p align="right">€[353]</p></td>
  444. <td width="132" valign="top"><p align="right">€[352]</p></td>
  445. <td width="123" valign="top"><p align="right">€[354]</p></td>
  446. <td width="132" valign="top"><p align="right">€[355]</p></td>
  447. </tr>
  448. <tr>
  449. <th width="170" valign="top"><p>[333]</p></th>
  450. <td width="113" valign="top"><p align="right">€[358]</p></td>
  451. <td width="132" valign="top"><p align="right">€[357]</p></td>
  452. <td width="123" valign="top"><p align="right">€[359]</p></td>
  453. <td width="132" valign="top"><p align="right">€[360]</p></td>
  454. </tr>
  455. <tr>
  456. <th width="170" valign="top"><p>[334]</p></th>
  457. <td width="113" valign="top"><p align="right">€[363]</p></td>
  458. <td width="132" valign="top"><p align="right">€[362]</p></td>
  459. <td width="123" valign="top"><p align="right">€[364]</p></td>
  460. <td width="132" valign="top"><p align="right">€[365]</p></td>
  461. </tr>
  462. <tr>
  463. <th width="170" valign="top"><p>[335]</p></th>
  464. <td width="113" valign="top"><p align="right">€[368]</p></td>
  465. <td width="132" valign="top"><p align="right">€[367]</p></td>
  466. <td width="123" valign="top"><p align="right">€[369]</p></td>
  467. <td width="132" valign="top"><p align="right">€[370]</p></td>
  468. </tr>
  469. <tr>
  470. <th width="170" valign="top"><p>[336]</p></th>
  471. <td width="113" valign="top"><p align="right">€[373]</p></td>
  472. <td width="132" valign="top"><p align="right">€[372]</p></td>
  473. <td width="123" valign="top"><p align="right">€[374]</p></td>
  474. <td width="132" valign="top"><p align="right">€[375]</p></td>
  475. </tr>
  476. <tr>
  477. <th width="170" valign="top"><p>[337]</p></th>
  478. <td width="113" valign="top"><p align="right">€[378]</p></td>
  479. <td width="132" valign="top"><p align="right">€[377]</p></td>
  480. <td width="123" valign="top"><p align="right">€[379]</p></td>
  481. <td width="132" valign="top"><p align="right">€[380]</p></td>
  482. </tr>
  483. <tr>
  484. <th width="170" valign="top"><p>[338]</p></th>
  485. <td width="113" valign="top"><p align="right">€[383]</p></td>
  486. <td width="132" valign="top"><p align="right">€[382]</p></td>
  487. <td width="123" valign="top"><p align="right">€[384]</p></td>
  488. <td width="132" valign="top"><p align="right">€[385]</p></td>
  489. </tr>
  490. <tr>
  491. <th width="170" valign="top"><p>[339] </p></th>
  492. <td width="113" valign="top"><p align="right">€[388]</p></td>
  493. <td width="132" valign="top"><p align="right">€[387]</p></td>
  494. <td width="123" valign="top"><p align="right">€[389]</p></td>
  495. <td width="132" valign="top"><p align="right">€[390]</p></td>
  496. </tr>
  497. <tr>
  498. <th width="170" valign="top"><p>[340] </p></th>
  499. <td width="113" valign="top"><p align="right">€[393]</p></td>
  500. <td width="132" valign="top"><p align="right">€[392]</p></td>
  501. <td width="123" valign="top"><p align="right">€[394]</p></td>
  502. <td width="132" valign="top"><p align="right">€[395]</p></td>
  503. </tr>
  504. <tr>
  505. <th width="170" valign="top"><p>[341] </p></th>
  506. <td width="113" valign="top"><p align="right">€[398]</p></td>
  507. <td width="132" valign="top"><p align="right">€[397]</p></td>
  508. <td width="123" valign="top"><p align="right">€[397]</p></td>
  509. <td width="132" valign="top"><p align="right">€[400]</p></td>
  510. </tr>
  511. <tr>
  512. <th width="170" valign="top"><p>[342] </p></th>
  513. <td width="113" valign="top"><p align="right">€[403]</p></td>
  514. <td width="132" valign="top"><p align="right">€[402]</p></td>
  515. <td width="123" valign="top"><p align="right">€[404]</p></td>
  516. <td width="132" valign="top"><p align="right">€[405]</p></td>
  517. </tr>
  518. <tr>
  519. <th width="170" valign="top"><p>Totals</p></th>
  520. <td width="123" valign="top"><p align="right">€[411]</p></td>
  521. <td width="123" valign="top"><p align="right">€[410]</p></td>
  522. <td width="123" valign="top"><p align="right">€[412]</p></td>
  523. <td width="132" valign="top"><p align="right">€[413]</p></td>
  524. </tr>
  525. <tr>
  526. <th width="170" valign="top"><p>Fees deducted</p></th>
  527. <td width="123" valign="top"><p align="right">€[416]</p></td>
  528. <td width="123" valign="top"><p align="right">€[415]</p></td>
  529. <td width="123" valign="top"><p align="right">€[417]</p></td>
  530. <td width="132" valign="top"><p align="right">€[419]</p></td>
  531. </tr>
  532. </table>
  533. <p><em>Explanatory Note(s);</em></p>
  534. <ul>
  535. <li><em>For further information on the fees deducted (if any) from your contributions prior to investment please refer to the Member’s explanatory booklet.</em></li>
  536. </ul>
  537. <ul>
  538. <li><em>The method of calculating contributions payable is set out in the Scheme rules and in the Member’s explanatory booklet.</em></li>
  539. </ul>
  540. <ul>
  541. <li><em>The information specified above is issued on behalf of the Scheme trustees who are required under the provisions of section 59(1)(a) of the Pensions Act to ensure in so far as is reasonable, that contributions payable by the employer and the members of the scheme, where appropriate, are received.</em></li>
  542. </ul>
  543. <ul>
  544. <li><em>If you are concerned that contributions payable in your respect under the rules of the scheme have not been paid, you should contact the scheme administrator and then if necessary, the Scheme trustees and your employer and then if necessary the Pensions Board.</em></li>
  545. </ul>
  546.  
  547. <br />
  548. <h2>Your Additional Voluntary Contribution Fund account</h2><h2>for the period ending [304]</h2>
  549.  
  550. <p>Listed below is the opening and closing value of your AVC account and Transfer Values.  The closing value is based on the contributions received up to [304] and any investment returns achieved during the period.</p>
  551. <table border="1" cellspacing="0" cellpadding="0" width="671">
  552. <tr>
  553. <th width="265" valign="top"><p>&nbsp;</p></th>
  554. <th width="406" valign="top"><p align="right">Total</p></th>
  555. </tr>
  556. <tr>
  557. <td width="265" valign="top"><p>Opening Balance</p></td>
  558. <td width="406" valign="top"><p align="right">€[435]</p></td>
  559. </tr>
  560. <tr>
  561. <td width="265" valign="top"><p>Contributions Invested</p></td>
  562. <td width="406" valign="top"><p align="right">€[439]</p></td>
  563. </tr>
  564. <tr>
  565. <td width="265" valign="top"><p>Investment Returns</p></td>
  566. <td width="406" valign="top"><p align="right">€[452]</p></td>
  567. </tr>
  568. <tr>
  569. <td width="265" valign="top"><p>Closing Balance</p></td>
  570. <td width="406" valign="top"><p align="right">€[444]</p></td>
  571. </tr>
  572. </table>
  573. <br />
  574. <h2>Your retirement account (split by Investment fund)</h2><h2>for the period ending [304]</h2>
  575. <p>Listed below is a breakdown of your retirement account value by unit holding in each investment fund.</p>
  576. <table border="1" cellspacing="0" cellpadding="0" width="690">
  577. <tr>
  578. <th width="520" valign="top">Name of Investment Fund</td>
  579. <th width="142" valign="top"><p align="right">Units</p></th>
  580. <th width="123" valign="top"><p align="right">Unit Price €</p></th>
  581. <th width="170" valign="top"><p align="right">Closing Value</p></th>
  582. </tr>
  583. <tr>
  584. <td width="520" valign="top"><p>[pif_desc(ILIMCAPEGY)]</p></td>
  585. <td width="142" valign="top"><p align="right">[676]</p></td>
  586. <td width="123" valign="top"><p align="right">[661]</p></td>
  587. <td width="170" valign="top"><p align="right">[694]</p></td>
  588. </tr>
  589. <tr>
  590. <td width="520" valign="top"><p>[pif_desc(ILIMPAN)]</p></td>
  591. <td width="142" valign="top"><p align="right">[677]</p></td>
  592. <td width="123" valign="top"><p align="right">[662]</p></td>
  593. <td width="170" valign="top"><p align="right">[695]</p></td>
  594. </tr>
  595. <tr>
  596. <td width="520" valign="top"><p>[pif_desc(ILPCASHPC2)]</p></td>
  597. <td width="142" valign="top"><p align="right">[678]</p></td>
  598. <td width="123" valign="top"><p align="right">[663]</p></td>
  599. <td width="170" valign="top"><p align="right">[696]</p></td>
  600. </tr>
  601. <tr>
  602. <td width="520" valign="top"><p>[pif_desc(ILPCONPCF)]</p></td>
  603. <td width="142" valign="top"><p align="right">[679]</p></td>
  604. <td width="123" valign="top"><p align="right">[664]</p></td>
  605. <td width="170" valign="top"><p align="right">[697]</p></td>
  606. </tr>
  607. <tr>
  608. <td width="520" valign="top"><p>[pif_desc(ILIMIGE)]</p></td>
  609. <td width="142" valign="top"><p align="right">[687]</p></td>
  610. <td width="123" valign="top"><p align="right">[673]</p></td>
  611. <td width="170" valign="top"><p align="right">[705]</p></td>
  612. </tr>
  613. <tr>
  614. <td width="520" valign="top"><p>[pif_desc(ILIMPPL)]</p></td>
  615. <td width="142" valign="top"><p align="right">[688]</p></td>
  616. <td width="123" valign="top"><p align="right">[674]</p></td>
  617. <td width="170" valign="top"><p align="right">[706]</p></td>
  618. </tr>
  619. <tr>
  620. <td width="520" valign="top"><p>[pif_desc(ILPSECPN)]</p></td>
  621. <td width="142" valign="top"><p align="right">[680]</p></td>
  622. <td width="123" valign="top"><p align="right">[665]</p></td>
  623. <td width="170" valign="top"><p align="right">[698]</p></td>
  624. </tr>
  625. <tr>
  626. <td width="520" colspan="3"><p>&nbsp;</p></td>
  627. <td width="170"><p align="right">€[709]</p></td>
  628. </tr>
  629. </table>
  630. <p><em>Explanatory note(s);</em></p>
  631. <ul>
  632. <li><em>The opening and closing balances are based on contributions received between [303] </em><em>and [304] </em><em>respectively.</em></li>
  633. </ul>
  634. <ul>
  635. <li><em>The value of these benefits assume you will remain in reckonable service to normal retirement date (as defined in the Member’s explanatory booklet and the Scheme rules) and does not include any estimate of bonus, interest or other additions after the effective date of this statement other than those which are explicitly guaranteed under the policy of assurance, or other contracts to which the contributions have been applied.</em></li>
  636. </ul>
  637. <ul>
  638. <li><em>The values quoted are not guaranteed.  The value of investments can fall as well as rise and as such the value available on normal retirement date or on an earlier claim could be higher or lower than the value quoted above.</em></li>
  639. </ul>
  640. <ul>
  641. <li><em>Market conditions may sometimes require the Scheme’s investment manager to impose restrictions on switching or exits from funds. These restrictions may include a delay in switching funds and or the application of a market value adjustment factor.   A Market Value Adjustment (MVA) is a negative adjustment that an investment manager reserves the right to apply to certain withdrawals or switches from the funds, when extreme investment conditions have adversely affected investment performance. The adjustment is necessary in order to protect the interests of those long-term investors who remain in the fund.</em>
  642. </li>
  643. </ul>
  644. <ul>
  645. <li><em>The values quoted above include any transfers in received.</em></li>
  646. </ul>
  647. {if([532]='ACMATRIX')then}
  648. <p>You have chosen the Lifestyle option, all of your existing funds and future contributions will automatically be invested in the Lifestyle Funds. The way in which Lifestyle investments are made on your behalf will vary according to your age:</p>
  649. <table border="1" cellspacing="0" cellpadding="0">
  650. <tr>
  651. <th width="180" valign="top"><p align="center">Age</p></th>
  652. <th width="217" valign="top"><p align="center">ILIM Pension Active Fund</p></th>
  653. <th width="284" valign="top"><p align="center">ILIM Capital Protection Fund</p></th>
  654. </tr>
  655. <tr>
  656. <td width="180" valign="top"><p>Pre 55th Birthday</p></td>
  657. <td width="217" valign="top"><p align="center">100%</p></td>
  658. <td width="284" valign="top"><p align="center">0%</p></td>
  659. </tr>
  660. <tr>
  661. <td width="180" valign="top"><p>55 years</p></td>
  662. <td width="217" valign="top"><p align="center">90%</p></td>
  663. <td width="284" valign="top"><p align="center">10%</p></td>
  664. </tr>
  665. <tr>
  666. <td width="180" valign="top"><p>56 years</p></td>
  667. <td width="217" valign="top"><p align="center">80%</p></td>
  668. <td width="284" valign="top"><p align="center">20%</p></td>
  669. </tr>
  670. <tr>
  671. <td width="180" valign="top"><p>57 years</p></td>
  672. <td width="217" valign="top"><p align="center">70%</p></td>
  673. <td width="284" valign="top"><p align="center">30%</p></td>
  674. </tr>
  675. <tr>
  676. <td width="180" valign="top"><p>58 years</p></td>
  677. <td width="217" valign="top"><p align="center">60%</p></td>
  678. <td width="284" valign="top"><p align="center">40%</p></td>
  679. </tr>
  680. <tr>
  681. <td width="180" valign="top"><p>59 years</p></td>
  682. <td width="217" valign="top"><p align="center">50%</p></td>
  683. <td width="284" valign="top"><p align="center">50%</p></td>
  684. </tr>
  685. <tr>
  686. <td width="180" valign="top"><p>60 years</p></td>
  687. <td width="217" valign="top"><p align="center">40%</p></td>
  688. <td width="284" valign="top"><p align="center">60%</p></td>
  689. </tr>
  690. <tr>
  691. <td width="180" valign="top"><p>61 years</p></td>
  692. <td width="217" valign="top"><p align="center">30%</p></td>
  693. <td width="284" valign="top"><p align="center">70%</p></td>
  694. </tr>
  695. <tr>
  696. <td width="180" valign="top"><p>62 years</p></td>
  697. <td width="217" valign="top"><p align="center">20%</p></td>
  698. <td width="284" valign="top"><p align="center">80%</p></td>
  699. </tr>
  700. <tr>
  701. <td width="180" valign="top"><p>63 years</p></td>
  702. <td width="217" valign="top"><p align="center">10%</p></td>
  703. <td width="284" valign="top"><p align="center">90%</p></td>
  704. </tr>
  705. <tr>
  706. <td width="180" valign="top"><p>64 years</p></td>
  707. <td width="217" valign="top"><p align="center">0%</p></td>
  708. <td width="284" valign="top"><p align="center">100%</p></td>
  709. </tr>
  710. </table>
  711. {end if}
  712. {if([532]='COMATRIX')then}
  713. <p>You have chosen the Lifestyle option, all of your existing funds and future contributions will automatically be invested in the Lifestyle Funds. The way in which Lifestyle investments are made on your behalf will vary according to your age :</p>
  714. <table border="1" cellspacing="0" cellpadding="0">
  715. <tr>
  716. <th width="180" valign="top"><p align="center">Age</p></th>
  717. <th width="217" valign="top"><p align="center">ILIM Pension Consensus Fund</p></th>
  718. <th width="284" valign="top"><p align="center">ILIM Capital Protection Fund</p></th>
  719. </tr>
  720. <tr>
  721. <td width="180" valign="top"><p>Before 60 Years</p></td>
  722. <td width="217" valign="top"><p align="center">100%</p></td>
  723. <td width="284" valign="top"><p align="center">0%</p></td>
  724. </tr>
  725. <tr>
  726. <td width="180" valign="top"><p>60 years</p></td>
  727. <td width="217" valign="top"><p align="center">80%</p></td>
  728. <td width="284" valign="top"><p align="center">20%</p></td>
  729. </tr>
  730. <tr>
  731. <td width="180" valign="top"><p>61 years</p></td>
  732. <td width="217" valign="top"><p align="center">60%</p></td>
  733. <td width="284" valign="top"><p align="center">40%</p></td>
  734. </tr>
  735. <tr>
  736. <td width="180" valign="top"><p>62 years</p></td>
  737. <td width="217" valign="top"><p align="center">40%</p></td>
  738. <td width="284" valign="top"><p align="center">60%</p></td>
  739. </tr>
  740. <tr>
  741. <td width="180" valign="top"><p>63 years</p></td>
  742. <td width="217" valign="top"><p align="center">20%</p></td>
  743. <td width="284" valign="top"><p align="center">80%</p></td>
  744. </tr>
  745. <tr>
  746. <td width="180" valign="top"><p>64 years</p></td>
  747. <td width="217" valign="top"><p align="center">0%</p></td>
  748. <td width="284" valign="top"><p align="center">100%</p></td>
  749. </tr>
  750. </table>
  751. {end if}
  752. {if([532]='')then}
  753. <p>Listed below are the investment funds available to you together with your current contributions allocation splilt between each investment fund and contributions type. </p>
  754. <table border="1" cellspacing="0" cellpadding="0" width="99%">
  755. <tr>
  756. <th width="50%" valign="top">Name of Investment Fund </th>
  757. <th width="49%" valign="top"><p align="center">AVC Allocation Split</p></th>
  758. </tr>
  759. <tr>
  760. <td width="50%" valign="top"><p>[pif_desc(ILIMCAPEGY)] </p></td>
  761. <td width="49%" valign="top"><p align="center">[535]%</p></td>
  762. </tr>
  763. <tr>
  764. <td width="50%" valign="top"><p>[pif_desc(ILIMPAN)]</p></td>
  765. <td width="49%" valign="top"><p align="center">[538]%</p></td>
  766. </tr>
  767. <tr>
  768. <td width="50%" valign="top"><p>[pif_desc(ILPCASHPC2)]</p></td>
  769. <td width="49%" valign="top"><p align="center">[541]%</p></td>
  770. </tr>
  771. <tr>
  772. <td width="50%" valign="top"><p>[pif_desc(ILPCONPCF)]</p></td>
  773. <td width="49%" valign="top"><p align="center">[544]%</p></td>
  774. </tr>
  775. <tr>
  776. <td width="50%" valign="top"><p>[pif_desc(ILIMIGE)]</p></td>
  777. <td width="49%" valign="top"><p align="center">[568]%</p></td>
  778. </tr>
  779. <tr>
  780. <td width="50%" valign="top"><p>[pif_desc(ILIMPPL)]</p></td>
  781. <td width="49%" valign="top"><p align="center">[571]%</p></td>
  782. </tr>
  783. </table>
  784. <p><em>Explanatory note(s);</em></p>
  785. <ul>
  786. <li><em>The contribution allocation columns refer to where your current (as at the effective date of this statement) AVC contributions are being invested.  The figures are displayed as percentages.</em> </li>
  787. </ul>
  788. {end if}
  789.  
  790. <br />
  791. <h2>Your AVC and transfer value should you leave service as at [530]</h2>
  792. <p>Should you leave service, you may transfer the value of your additional voluntary contributions (AVCs) and the value of any transfer values received on your behalf out of the Scheme, subject to Revenue regulations and to the Scheme rules, along with the current actuarial value of your main pension benefits.</p>
  793. <table border="1" cellspacing="0" cellpadding="0" width="671">
  794. <tr>
  795. <th width="510" valign="top"><p>Benefit description </p></th>
  796. <th width="161" valign="top"><p align="right">Amount payable </p></th>
  797. </tr>
  798. <tr>
  799. <td width="510" valign="top"><p>Transfer Value</p></td>
  800. <td width="161" valign="top"><p align="right">€[444]</p></td>
  801. </tr>
  802. </table>
  803. <p><em>Explanatory Note(s);</em></p>
  804. <ul>
  805. <li><em>The AVC transfer value quoted above assumes you leave service on the effective date of this statement.</em></li>
  806. </ul>
  807. <ul>
  808. <li><em>The AVC transfer value quoted is based on current unit prices which change daily and as such the value is not guaranteed and will change if you leave service after the effective date of this statement.  Fund values may fall as well as rise.</em></li>
  809. </ul>
  810.  
  811. <ul>
  812. <li><em>Should you leave service you will receive a leaving service option statement which will confirm in detail the benefits available including your right to transfer and the transfer value available to you.</em></li>
  813. </ul>
  814. <ul>
  815. <li><em>Please refer to your explanatory booklet for further information on your benefit upon leaving service.</em></li>
  816. </ul>
  817.  
  818. <br />
  819. <h2>Your AVC and transfer value death benefits</h2>
  820. <table border="1" cellspacing="0" cellpadding="0" width="98%">
  821. <tr>
  822. <th width="76%" valign="top"><p>Benefit description</p></th>
  823. <th width="23%" valign="top"><p align="right">Amount payable</p></th>
  824. </tr>
  825. <tr>
  826. <td width="76%" valign="top"><p>Value of your AVC retirement account</p></td>
  827. <td width="23%" valign="top"><p align="right">€[444]</p></td>
  828. </tr>
  829. </table>
  830. <p><em>Explanatory Note(s);</em></p>
  831. <ul>
  832. <li><em>Death benefits are paid in accordance with the rules of the Scheme and at the Trustees discretion. For further information on your death benefits please refer to the Member’s explanatory booklet.<strong> </strong></em></li>
  833. </ul>
  834.  
  835. <br />
  836. <h2>Statement of Reasonable Projection</h2>
  837. <p>Outlined in this section of your annual benefit statement are projections of the pension benefits you may receive from this pension Scheme at various future dates.  These projections are known as Statements of Reasonable Projection and in no way confer on a member of the Scheme any guarantees with regard to the ultimate pension benefit receivable.</p>
  838. <p>Statements of reasonable projection are not guaranteed, they are intended for illustration proposes only.  Ultimately the benefits payable will depend on a number of factors, including the net investment return achieved by your retirement fund over the period to your retirement, the amount of contributions paid into your retirement fund over the period to your retirement and the prevailing long term interest rates at your retirement.  The value of investments can fall as well as rise, the values projected on normal retirement date or on an earlier retirement could be higher or lower than the values projected.</p>
  839. <p>The effective date of this Statement of Reasonable Projections is [1].</p>
  840. <p>This statement has been prepared in accordance with the Pensions Act 1990, Occupational Pension schemes (Disclosure of Information) (Amendment) Regulations 2008 and using guidance issued by the Society of Actuaries in Ireland in their Actuarial Standards of Practice Pen-12 note.  This guidance note sets out the principles in accordance with which the various parameters underlying the calculations must be determined. </p>
  841. <p>The material assumptions used in preparing this Statement of Reasonable Projections are set out below.  These assumptions could change in the future without prior notice to you.  The assumptions used include:</p>
  842. <p>A rate of investment return to your Normal Retirement Date of [SORPS22]% per annum compound.</p>
  843. <p>This gross (before fees and or expenses have been deducted) rate of investment return has been determined having regard to your individual mix of assets, contained in the investment funds you have chosen and includes where appropriate any elected future life styling events.  The maximum gross rate of investment return that can be used is 5% per annum compound.</p>
  844. <p>Annuity Rate based on future long term interest rates of [229]. %.</p>
  845. <p>An annuity rate is the factor used to convert a retirement fund into a pension for life.  A significant element in determining annuity rates is future long term interest rates.  In preparing this projection a future long term interest rate of % has been assumed.  The cost of the projected personal pension illustrated will be [SORPS27] to purchase €1 of the projected personal pension and €[SORPS98] to purchase €1 of the projected joint life personal pension on your normal retirement date.  The joint life cost assumes the nominated dependant is your opposite gender and if female is three years younger than you or if male three years older than you.  The annuity rates used in these projections are long-term average rates.  The annuity rates used in these projections are long-term average rates. However, if within 5 years of Normal Retirement Date we use gender neutral actuarial annuity rates and in relation to the joint life pension we also assume that both lives involved are the same age.</p>
  846. <p>Effect of charges is to reduce your gross investment return to your Normal Retirement Date by [SORPS28]% per annum compound.  </p>
  847. <p>Investment Managers are remunerated on a fee basis which is calculated as a percentage of the assets under management and are reflected in declared unit prices and in all fund values quoted.  Investment Manager fees do have an effect on the rate of investment return your retirement account achieves.</p>
  848. <p>Salary increases are assumed at a rate of [SORPS23]% per annum compound between the effective date ([1]) of this projection and your normal retirement date.</p>
  849. <p>Inflation is assumed at a rate of [SORPS24]% per annum compound.<br clear="all">
  850. </p>
  851. <p>Benefits payable from all pension plans are subject to various limits set down by the Revenue Commissioners.  These include: </p>
  852. <ul>
  853. <ul>
  854. <li>The imposition of a maximum earnings limit on tax relievable employee contributions including additional voluntary contributions. The maximum earnings figure can change from year to year.  The maximum earnings figure in force at [1] is €[70]. </li>
  855. </ul>
  856. </ul>
  857. <ul>
  858. <ul>
  859. <li>The imposition of a limit on the amount of tax free lump sum you may receive from your plan.  The maximum tax free lump sum available for those retiring at their normal retirement date with more than 20 years company service completed is 150% of final remuneration to a maximum lump sum of €[69] as at [1].  A sliding scale applies to members with shorter service. </li>
  860. </ul>
  861. </ul>
  862. <ul>
  863. <ul>
  864. <li>The imposition of a limit on the value of your aggregated pension funds, at retirement.  The maximum threshold is €5,418,086  as at January 2009 and subject to increases each year at the discretion of the Minister of Finance,or if higher the value of your fund on 7th December 2005.  Funds in excess will be subject to a once off deduction of income tax on drawdown.</li>
  865. </ul>
  866. </ul>
  867. <ul>
  868. <ul>
  869. <li>Subject to Revenue limits, Additional Voluntary Contributions may be taken on retirement as an additional lump sum within Revenue limit, used to increase your pension benefits or invested in an Approved Retirement Fund (ARF) or an Approved Minimum Retirement Fund (AMRF).  If you require further information on Additional Voluntary Contributions, please refer to the member’s explanatory booklet.</li>
  870. </ul>
  871. </ul>
  872. <br />
  873. <h2>1. Projection to your Normal Retirement Date [pm_npd] </h2>
  874. <p>The values in this table are projected to your normal retirement date.  The values do not make an allowance for the effect of inflation in future years.</p>
  875. <table border="1" cellspacing="0" cellpadding="0" width="102%">
  876. <tr>
  877. <th width="15%" valign="top"><strong> Projected<br>
  878. Salary </strong></th>
  879. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  880. Fund Value</strong></p></th>
  881. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  882. per annum</strong></p></th>
  883. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  884. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  885. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  886. Per annum</strong></p></th>
  887. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  888. </tr>
  889. <tr>
  890. <td width="15%" valign="top"><p align="center">€[SORPS44] </p></td>
  891. <td width="15%" valign="top"><p align="center">€[SORPS18]</p></td>
  892. <td width="14%" valign="top"><p align="center">€[SORPS19]</p></td>
  893. <td width="15%" valign="top"><p align="center">[SORPS45]%</p></td>
  894. <td width="6%" valign="top"><p align="center">OR</p></td>
  895. <td width="16%" valign="top"><p align="center">€[SORPS99]</p></td>
  896. <td width="15%" valign="top"><p align="center">[SORPS100]%</p></td>
  897. </tr>
  898. </table>
  899. <p>The values in this table are again projected to your normal retirement date but expressed in present day terms i.e. these figures make an allowance for the effect of inflation between the date of the projection ([1]) and your normal retirement date ([pm_npd]).</p>
  900. <table border="1" cellspacing="0" cellpadding="0" width="102%">
  901. <tr>
  902. <th width="15%" valign="top"><strong> Current <br>
  903. Salary </strong></th>
  904. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  905. Fund Value</strong></p></th>
  906. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  907. per annum</strong></p></th>
  908. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  909. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  910. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  911. Per annum</strong></p></th>
  912. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  913. </tr>
  914. <tr>
  915. <td width="15%" valign="top"><p align="center">€[77]</p></td>
  916. <td width="15%" valign="top"><p align="center">€[SORPS20]</p></td>
  917. <td width="14%" valign="top"><p align="center">€[SORPS21]</p></td>
  918. <td width="15%" valign="top"><p align="center">[SORPS48]%</p></td>
  919. <td width="6%" valign="top"><p align="center">OR</p></td>
  920. <td width="16%" valign="top"><p align="center">€[SORPS102]</p></td>
  921. <td width="15%" valign="top"><p align="center">[SORPS101]%</p></td>
  922. </tr>
  923. </table>
  924. <p><em>Explanatory note(s);</em></p>
  925. <p><em>Projection 1 (projection to your normal retirement date, </em><em>[pm_npd]</em><em>) illustrates a projected personal pension payable to you on your normal retirement date, </em><em>[pm_npd]</em><em>. This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  The projected pension would increase in the course of payment by 1.5% per annum compound..</em></p>
  926. <p><em>As an alternative, also illustrated is a projected joint life pension that would be payable to you on your normal retirement date, </em><em>[pm_npd]</em><em>.  This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  This projected joint life pension includes an allowance for the payment of a pension in the event that you predecease a nominated dependant. The nominated dependant’s pension payments will continue throughout the dependant’s lifetime at a rate of 50% of the pension you would have received in retirement.  The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  927. <p><em>Projection 1 assumes you remain a member of the Scheme until your normal retirement date (</em><em>[pm_npd]</em><em>) and as such the projection is based on the current value of your retirement account together with the projected value of future contributions (including AVCs, if any) payable to your normal retirement date, </em><em>[pm_npd]</em><em>.   At the effective date (</em><em>[1]</em><em>) of this projection if you have elected the Scheme’s lifestyle strategy the projection includes an allowance for the expected investment returns from this strategy.</em></p>
  928. <br>
  929. <h2>Additional Voluntary Contributions</h2>
  930. <p>Depending on your circumstances you may wish to increase your retirement benefits.  Additional Voluntary Contributions (AVCs) provide an opportunity to achieve this by making additional payments to your retirement account.  You will obtain full tax (excluding income levy) and PRSI relief on your AVCs, as long as they do not, when combined with your normal contributions to the Scheme, exceed Revenue limits as set out in the table below.</p>
  931. <p>For tax purposes, contributions are subject to a maximum earnings figure in any given tax year. </p>
  932. <table border="1" cellspacing="0" cellpadding="0" width="688">
  933. <tr>
  934. <th width="340" valign="top"><p align="center">Age Bands</p></th>
  935. <th width="347" valign="top"><p align="center">% of Earnings</p></th>
  936. </tr>
  937. <tr>
  938. <td width="340" valign="top"><p align="center">29 years or under</p></td>
  939. <td width="347" valign="top"><p align="center">15%</p></td>
  940. </tr>
  941. <tr>
  942. <td width="340" valign="top"><p align="center">30 – 39 years</p></td>
  943. <td width="347" valign="top"><p align="center">20%</p></td>
  944. </tr>
  945. <tr>
  946. <td width="340" valign="top"><p align="center">40 – 49 years</p></td>
  947. <td width="347" valign="top"><p align="center">25%</p></td>
  948. </tr>
  949. <tr>
  950. <td width="340" valign="top"><p align="center">50 – 54 years</p></td>
  951. <td width="347" valign="top"><p align="center">30%</p></td>
  952. </tr>
  953. <tr>
  954. <td width="340" valign="top"><p align="center">55 – 59 years</p></td>
  955. <td width="347" valign="top"><p align="center">35%</p></td>
  956. </tr>
  957. <tr>
  958. <td width="340" valign="top"><p align="center">60+ years</p></td>
  959. <td width="347" valign="top"><p align="center">40%</p></td>
  960. </tr>
  961. </table>
  962. <br clear="all">
  963. <h2>2. Projected additional benefits of paying</h2><h2>an extra 1% Additional Voluntary Contribution</h2>
  964. <p>The values in the table below illustrate the additional pension benefits that you may receive at your normal retirement date ([pm_npd]) should you pay an additional 1% of your salary from the effective date ([1]) of this statement to your normal retirement date, [pm_npd].</p>
  965. <p>The values in this table are projected to your normal retirement date.  The values do not make an allowance for the effect of inflation in future years.</p>
  966. <table border="1" cellspacing="0" cellpadding="0" width="101%">
  967. <tr>
  968. <th width="15%" valign="top"> Projected Salary </th>
  969. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  970. Fund Value</strong></p></th>
  971. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  972. per annum</strong></p></th>
  973. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  974. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  975. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  976. per annum</strong></p></th>
  977. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  978. </tr>
  979. <tr>
  980. <td width="15%" valign="top"><p align="center">€[SORPS44]</p></td>
  981. <td width="15%" valign="top"><p align="center">€[SORPS44]</p></td>
  982. <td width="14%" valign="top"><p align="center">€[SORPS56]</p></td>
  983. <td width="15%" valign="top"><p align="center">[SORPS60]%</p></td>
  984. <td width="6%" valign="top"><p align="center">OR</p></td>
  985. <td width="16%" valign="top"><p align="center">€[SORPS107]</p></td>
  986. <td width="15%" valign="top"><p align="center">[SORPS108]%</p></td>
  987. </tr>
  988. </table>
  989. <p>The values in this table are again projected to your normal retirement date but expressed in present day terms i.e. these figures make an allowance for the effect of inflation between the date of the projection ([1]) and your normal retirement date ([pm_npd]).</p>
  990. <table border="1" cellspacing="0" cellpadding="0" width="101%">
  991. <tr>
  992. <th width="15%" valign="top"><strong><br>
  993. Current Salary </strong></th>
  994. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  995. Fund Value</strong></p></th>
  996. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  997. per annum</strong></p></th>
  998. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  999. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  1000. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1001. per annum</strong></p></th>
  1002. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1003. </tr>
  1004. <tr>
  1005. <td width="15%" valign="top"><p align="center">€[77] </p></td>
  1006. <td width="15%" valign="top"><p align="center">€[SORPS57]</p></td>
  1007. <td width="14%" valign="top"><p align="center">€[SORPS58]</p></td>
  1008. <td width="15%" valign="top"><p align="center">[SORPS61]%</p></td>
  1009. <td width="6%" valign="top"><p align="center">OR</p></td>
  1010. <td width="16%" valign="top"><p align="center">€[SORPS110]</p></td>
  1011. <td width="15%" valign="top"><p align="center">[SORPS109]%</p></td>
  1012. </tr>
  1013. </table>
  1014. <p><em>Explanatory Note(s);</em></p>
  1015. <p><em>Projection 2 (Projection for paying an extra 1% Additional Voluntary Contribution) illustrates the additional personal pension payable to you on your normal retirement date (</em><em>[pm_npd]</em><em>) should you elect to pay an additional voluntary contribution of 1% of your salary from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date (</em><em>[pm_npd]</em><em>).  This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1016. <p><em>As an alternative, also illustrated is a projected joint life pension that would be payable to you on your normal retirement date (</em><em>[pm_npd]</em><em>)  should you elect to pay an additional voluntary contribution of 1% of your salary from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date, </em><em>65</em><em>.  This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  This projected joint life pension includes an allowance for the payment of a pension in the event that you predecease a nominated dependant. The nominated dependant’s pension payments will continue throughout the dependant’s lifetime at a rate of 50% of the pension you would have received in retirement. The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1017. <p><em>Projection 2 assumes you remain a member of the Scheme until your normal retirement date (</em><em>[pm_npd]</em><em>) and the payment of the 1% additional voluntary contribution is made from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date, </em><em>[pm_npd]</em><em>. </em></p>
  1018.  
  1019. <br />
  1020. <h2>3. Projection on Early Retirement</h2>
  1021. <p>The values in this table are projected to early retirement at age 60.  The values do not make an allowance for the effect of inflation in future years.</p>
  1022. <table border="1" cellspacing="0" cellpadding="0" width="102%">
  1023. <tr>
  1024. <th width="15%" valign="top"><strong> Projected<br>
  1025. Salary </strong></th>
  1026. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  1027. Fund Value</strong></p></th>
  1028. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1029. per annum</strong></p></th>
  1030. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1031. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  1032. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1033. Per annum</strong></p></th>
  1034. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1035. </tr>
  1036. <tr>
  1037. <td width="15%" valign="top"><p align="center">€[SORPS69]</p></td>
  1038. <td width="15%" valign="top"><p align="center">€[SORPS65]</p></td>
  1039. <td width="14%" valign="top"><p align="center">€[SORPS66]</p></td>
  1040. <td width="15%" valign="top"><p align="center">[SORPS70]%</p></td>
  1041. <td width="6%" valign="top"><p align="center">OR</p></td>
  1042. <td width="16%" valign="top"><p align="center">€[SORPS116]</p></td>
  1043. <td width="15%" valign="top"><p align="center">[SORPS117]%</p></td>
  1044. </tr>
  1045. </table>
  1046. <p>The values in this table are projected to early retirement at age 60 and are expressed in present day terms i.e. these figures make an allowance for the effect of inflation between the date of the projection [1] and early retirement at age 60.</p>
  1047. <table border="1" cellspacing="0" cellpadding="0" width="102%">
  1048. <tr>
  1049. <th width="15%" valign="top"><strong><br>
  1050. Current Salary </strong></th>
  1051. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  1052. Fund Value</strong></p></th>
  1053. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1054. per annum</strong></p></th>
  1055. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1056. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  1057. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1058. Per annum</strong></p></th>
  1059. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1060. </tr>
  1061. <tr>
  1062. <td width="15%" valign="top"><p align="center">€[77]</p></td>
  1063. <td width="15%" valign="top"><p align="center">€[SORPS67]</p></td>
  1064. <td width="14%" valign="top"><p align="center">€[SORPS68]</p></td>
  1065. <td width="15%" valign="top"><p align="center">[SORPS71]%</p></td>
  1066. <td width="6%" valign="top"><p align="center">OR</p></td>
  1067. <td width="16%" valign="top"><p align="center">€[SORPS119]</p></td>
  1068. <td width="15%" valign="top"><p align="center">[SORPS118]%</p></td>
  1069. </tr>
  1070. </table>
  1071. <p><em>Explanatory Note(s);</em></p>
  1072. <p><em>Projection 3 (projections on early retirement) illustrates a projected personal pension payable to you should you retire early aged 60.  These projected pensions would be payable in advance monthly instalments for your lifetime but are guaranteed to be paid for a minimum period of five years in any event.  The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1073. <p><em>As an alternative, also illustrated are projected joint life pensions that would be payable to you should you retire early aged 60.  These projected pensions would be payable in advance monthly instalments for your lifetime but are guaranteed to be paid for a minimum period of five years in any event.  These projected joint life pensions include an allowance for the payment of a pension in the event that you predecease a nominated dependant. The nominated dependant’s pension payments will continue throughout the dependant’s lifetime at a rate of 50% of the pension you would have received in retirement.  The projected pensions would increase in the course of payment by 1.5% per annum compound.</em></p>
  1074. <p><em>Projection 3 assumes you remain a member of the Scheme until your 60th birthday and as such the projections are based on the current value of your retirement account together with the projected future value of contributions (including AVCs, if any) payable to your 60th birthday.</em></p>
  1075. <br clear="all">
  1076. <h2>4. Projection should you leave service</h2>
  1077. <p>The values in this table are projected to your normal retirement date.  The values do not make an allowance for the effect of inflation in future years.</p>
  1078. <table border="1" cellspacing="0" cellpadding="0" width="99%">
  1079. <tr>
  1080. <th width="17%" valign="top"><strong> Projected<br>
  1081. Salary </strong></th>
  1082. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  1083. Fund Value</strong></p></th>
  1084. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1085. per annum</strong></p></th>
  1086. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1087. <th width="7%" valign="top"><p align="center">&nbsp;</p></th>
  1088. <th width="14%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1089. Per annum</strong></p></th>
  1090. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1091. </tr>
  1092. <tr>
  1093. <td width="17%" valign="top"><p align="center">€[SORPS44]</p></td>
  1094. <td width="15%" valign="top"><p align="center">€[SORPS29]</p></td>
  1095. <td width="14%" valign="top"><p align="center">€[SORPS30]</p></td>
  1096. <td width="15%" valign="top"><p align="center">[SORPS47]%</p></td>
  1097. <td width="7%" valign="top"><p align="center">OR</p></td>
  1098. <td width="14%" valign="top"><p align="center">€[SORPS132]</p></td>
  1099. <td width="15%" valign="top"><p align="center">[SORPS133]%</p></td>
  1100. </tr>
  1101. </table>
  1102. <p>&nbsp;</p>
  1103. <p>The values in this table are again projected to your normal retirement date but expressed in present day terms i.e. these figures make an allowance for the effect of inflation between the date of the projection ([1]) and your normal retirement date ([pm_npd]).</p>
  1104. <table border="1" cellspacing="0" cellpadding="0" width="98%">
  1105. <tr>
  1106. <th width="16%" valign="top"><strong><br>
  1107. Current Salary </strong></th>
  1108. <th width="16%" valign="top"><p align="center"><strong>Projected<br>
  1109. Fund Value</strong></p></th>
  1110. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1111. per annum</strong></p></th>
  1112. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1113. <th width="7%" valign="top"><p align="center">&nbsp;</p></th>
  1114. <th width="14%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1115. per annum</strong></p></th>
  1116. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1117. </tr>
  1118. <tr>
  1119. <td width="16%" valign="top"><p align="center">€[77]</p></td>
  1120. <td width="16%" valign="top"><p align="center">€[SORPS31]</p></td>
  1121. <td width="14%" valign="top"><p align="center">€[SORPS32]</p></td>
  1122. <td width="15%" valign="top"><p align="center">[SORPS49]%</p></td>
  1123. <td width="7%" valign="top"><p align="center">OR</p></td>
  1124. <td width="14%" valign="top"><p align="center">€[SORPS135]</p></td>
  1125. <td width="15%" valign="top"><p align="center">[SORPS134]%</p></td>
  1126. </tr>
  1127. </table>
  1128. <p><em>Explanatory Note(s);</em></p>
  1129. <p><em>Projection 4 (projection should you leave) illustrates a projected personal pension payable to you should you leave the pension Scheme as at the effective date (</em><em>[1]</em><em>) of this projection and retain a benefit in the Scheme until your normal retirement date, </em><em>[pm_npd]</em><em>. The projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  The projected pension would increase in the course of payment by 1.5% per annum compound..</em></p>
  1130. <p><em>As an alternative, also illustrated is a projected joint life pension that would be payable to you on your normal retirement date, </em><em>[pm_npd]</em><em>.  It assumes that on leaving you retain a benefit in this pension plan. The projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  This projected joint life pension includes an allowance for the payment of a pension in the event that you predecease a nominated dependant. The nominated dependant’s pension payments will continue throughout the dependant’s lifetime at a rate of 50% of the pension you would have received in retirement.  The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1131. <p><em>Projection 4 assumes you leave the Scheme and as such the projection is based on the current value of your retirement account only, no allowance has been made for future contributions.   At the effective date (</em><em>[1]</em><em>) of this projection if you have elected the Scheme’s lifestyle strategy the projection includes an allowance for the expected investment returns from this strategy.</em></p>
  1132.  
  1133. <br />
  1134. <h2>Social welfare benefits</h2>
  1135. <ul>
  1136. <li>The benefits outlined on this statement are in addition to any State benefits to which you or your dependants may be entitled.  State benefits are only payable from age 65 and are not available on early retirement.</li>
  1137. </ul>
  1138. <ul>
  1139. <li>The following are the Social Welfare benefits in force at [530]. These are usually revised upwards in the budget each year.  All state benefits quoted are those applicable to a fully qualified person.  Qualification for State benefits is subject to assessment administered by The Department of Social and Family Affairs, Pension Services Office, College Road, Sligo. Tel 1890 500 000 or detail can be found on their website <a href="http://www.welfare.ie/">www.welfare.ie</a></li>
  1140. </ul>
  1141. <table border="1" cellspacing="0" cellpadding="0" width="671">
  1142. <tr>
  1143. <th width="347" valign="top"><p>Benefit Description</p></th>
  1144. <th width="324" valign="top"><p align="center">Amount Payable</p></th>
  1145. </tr>
  1146. <tr>
  1147. <td width="347" valign="top"><p>State Pension Contributory (under 80)</p></td>
  1148. <td width="324" valign="top"><p align="right">€[523] per annum</p></td>
  1149. </tr>
  1150. <tr>
  1151. <td width="347" valign="top"><p>Additional Supplement for adult dependant under 66</p></td>
  1152. <td width="324" valign="top"><p align="right">€[525] per annum</p></td>
  1153. </tr>
  1154. <tr>
  1155. <td width="347" valign="top"><p>State Pension Contributory (over 80)</p></td>
  1156. <td width="324" valign="top"><p align="right">€[524] per annum</p></td>
  1157. </tr>
  1158. <tr>
  1159. <td width="347" valign="top"><p>Additional Supplement for adult dependant over 66</p></td>
  1160. <td width="324" valign="top"><p align="right">€[526] per annum</p></td>
  1161. </tr>
  1162. </table>
  1163. <p>&nbsp;</p>
  1164. <h2>Who's who</h2>
  1165.  
  1166. <table border="1" cellpadding="0" cellspacing="0" width="671">
  1167. <tbody>
  1168. <tr>
  1169. <th valign="top" width="345"><p>Role</p></th>
  1170. <th valign="top" width="326"><p align="center">Who</p></th>
  1171. </tr>
  1172. <tr>
  1173. <td valign="top" width="345"><p>Trustees</p></td>
  1174. <td valign="top" width="326">
  1175. <p align="right">[psa_name1(TRUSTEE1)]</p>
  1176. <p align="right">[psa_name1(TRUSTEE2)]</p>
  1177. <p align="right">[psa_name1(TRUSTEE3)]</p>
  1178. <p align="right">[psa_name1(TRUSTEE4)]</p>
  1179. <p align="right">[psa_name1(TRUSTEE)]</p>
  1180. <p align="right">[psa_addr1(TRUSTEE)]</p>
  1181. <p align="right">[psa_addr2(TRUSTEE)]</p>
  1182. <p align="right">[psa_addr3(TRUSTEE)]</p>
  1183. <p align="right">[psa_addr4(TRUSTEE)]</p> </td>
  1184. </tr>
  1185. <tr>
  1186. <td valign="top" width="345"><p>Administrator</p></td>
  1187. <td valign="top" width="326"><p align="right">[psa_name1(ADMIN)]</p>
  1188. <p align="right">[psa_addr_name(ADMIN)]</p>
  1189. <p align="right">[psa_addr1(ADMIN)]</p>
  1190. <p align="right">[psa_addr2(ADMIN)]</p>
  1191. <p align="right">[psa_addr3(ADMIN)]</p>
  1192. <p align="right">[psa_addr4(ADMIN)]</p> </td>
  1193. </tr>
  1194. <tr>
  1195. <td valign="top" width="345"><p>Investment Managers</p></td>
  1196. <td valign="top" width="326"><p align="right">[psa_name1(INVEST)]</p>
  1197. <p align="right">[psa_addr1(INVEST)]</p>
  1198. <p align="right">[psa_addr2(INVEST)]</p>
  1199. <p align="right">[psa_addr3(INVEST)]</p>
  1200. <p align="right">[psa_addr4(INVEST)]</p> </td>
  1201. </tr>
  1202. <tr>
  1203. <td valign="top" width="345"><p>Employer contact</p></td>
  1204. <td valign="top" width="326"><p align="right">[psa_name1(SCHEME)]</p>
  1205. <p align="right">[psa_sig1(SCHEME)]</p>
  1206. <p align="right">[psa_addr1(SCHEME)]</p>
  1207. <p align="right">[psa_addr2(SCHEME)]</p>
  1208. <p align="right">[psa_addr3(SCHEME)]</p>
  1209. <p align="right">[psa_addr4(SCHEME)]</p> </td>
  1210. </tr>
  1211. </tbody>
  1212. </table>
  1213.  
  1214. <div>
  1215. <p><em>No Liability is accepted by Invesco Limited for any errors and ommissions in this personal information Statement.   It is strictly confidential and is intended as an illustration addressed to the member named on the document.  Any disclosure, copying, distribution or action taken based on the contents in this document is strictly prohibited and Invesco Limited cannot accept any responsibility whatsoever arising from such actions.  Every effort has been made to ensure the accuracy of this document however this is not a contractual document and gives no right to benefit.  Those claiming benefits from the Scheme are only entitled at all times to those benefits applicable to them under the terms of the trust deed and rules, insurance policies, Revenue regulations and government legislation as applies from time to time in relation to the Scheme</em></p>
  1216. </div>
  1217. <h2><br clear="all">
  1218. </h2>
  1219. <h2>Transferring benefits from your previous pension plan </h2>
  1220. <p>In addition to the benefits outlined in this statement you may hold other pension entitlement(s) with previous employer(s) which could be transferred into this scheme.  You should contact the administrator of your previous scheme to establish the benefits to which you are entitled.  Benefits transferred into this pension arrangement are invested in your retirement account on a defined contribution basis.  Any transfer values received will provide you with additional benefits on your death, retirement or on leaving service.</p>
  1221. <p>Ultimately the benefits payable from the transfer payment received will depend on the investment return achieved by your fund(s) over the period to your retirement or date of leaving service, if earlier, and the prevailing annuity rates at that time.</p>
  1222. <h2><br>
  1223. Pension Adjustment Orders</h2>
  1224. <p>The Family Law Act, 1995 and the Family Law (Divorce) Act, 1996 oblige the Court to take the value of pension benefits into account in arriving at a financial settlement following the granting of a decree of judicial separation or divorce. The legislation only applies where the decree is granted, or the marriage dissolved, after the relevant Act was brought into operation i.e. 1st August, 1996 (judicial separations and foreign divorces) or 27th February, 1997 (Irish divorces). The legislation does not apply to separation agreements not involving the Court.</p>
  1225. {if([522]='N')then}
  1226. <p>Our records show that no pensions adjustment order has been issued in respect of your benefits, however if our records are incorrect in this regard you must contact us immediately providing us with a copy of the order. Should you wish to enquire about the effect and operation of such an order, further information may be obtained from the Pensions Board. www.pensionsboard.ie
  1227. </p>
  1228. {end if}
  1229. {if([522]!'N')then}
  1230. <p>
  1231. Our records show that a pensions adjustment order have been issued in respect of your benefits, however if our records are incorrect in thus regard you must contact us immediately in this regards you must contact us immediatley providing us with a copy of the order. Should you wish to enquire about the effect and operation of such an order, further information may be obtained from the Pensions Board, www.pensionsboard.ie.</p>
  1232. {end if}
  1233.  
  1234. <br>
  1235. <h2>Disputes Resolution Procedure</h2>
  1236. <p>The Trustees have established an Internal Disputes Resolution procedure to deal with certain complaints or disputes made by actual or potential beneficiaries in relation to the scheme.</p>
  1237. <p>The Trustees will endeavour to resolve the issue but in the event they are unable to do so the complaint or dispute may be submitted to the Financial Services and Pensions Ombudsman for review.  Generally the Financial Services and Pensions Ombudsman cannot investigate a complaint or dispute unless the matter has passed through the Scheme’s Internal Disputes Resolution procedure and the Trustee has issued their notice of decision.</p>
  1238. <p>The Financial Services and Pensions Ombudsman's web address is www.fspo.ie</p>
  1239. <h2><br>
  1240. Pensions Board</h2>
  1241. <p>The scheme is registered with the Pensions Board as a defined benefit scheme within the meaning of the Pension Act 1990.  The registration number is PB PB 180669.</p>
  1242. <h2><br>
  1243. Revenue Commissioners</h2>
  1244. <p>The scheme has received approval from the Revenue Commissioners under Chapter 1 Part 30 of the Taxes Consolidation Act 1997.  The Revenue reference number is SF SF 77009.</p>
  1245. <h2><br>
  1246. Termination or amendment</h2>
  1247. <p>Your employer reserves the right to amend or discontinue the Scheme at any time but this would not affect the contribution already made to your Retirement Account.<br>
  1248. </p>
  1249. {end if}
  1250. {if([444]=0)then}
  1251. <br />
  1252. <h2>Additional Voluntary Contributions</h2>
  1253. <p>Depending on your circumstances you may wish to increase your retirement benefits.  Additional Voluntary Contributions (AVCs) provide an opportunity to achieve this by making additional payments to your retirement account.  You will obtain full tax (excluding income levy) and PRSI relief on your AVCs, as long as they do not, when combined with your normal contributions to the Scheme, exceed Revenue limits as set out in the table below.</p>
  1254. <p>For tax purposes, contributions are subject to a maximum earnings figure in any given tax year. The maximum earnings figure in force at [1] is €[70].</p>
  1255. <table border="1" cellspacing="0" cellpadding="0" width="688">
  1256. <tr>
  1257. <th width="340" valign="top"><p align="center">Age Bands</p></th>
  1258. <th width="347" valign="top"><p align="center">% of Earnings</p></th>
  1259. </tr>
  1260. <tr>
  1261. <td width="340" valign="top"><p align="center">29 years or under</p></td>
  1262. <td width="347" valign="top"><p align="center">15%</p></td>
  1263. </tr>
  1264. <tr>
  1265. <td width="340" valign="top"><p align="center">30 – 39 years</p></td>
  1266. <td width="347" valign="top"><p align="center">20%</p></td>
  1267. </tr>
  1268. <tr>
  1269. <td width="340" valign="top"><p align="center">40 – 49 years</p></td>
  1270. <td width="347" valign="top"><p align="center">25%</p></td>
  1271. </tr>
  1272. <tr>
  1273. <td width="340" valign="top"><p align="center">50 – 54 years</p></td>
  1274. <td width="347" valign="top"><p align="center">30%</p></td>
  1275. </tr>
  1276. <tr>
  1277. <td width="340" valign="top"><p align="center">55 – 59 years</p></td>
  1278. <td width="347" valign="top"><p align="center">35%</p></td>
  1279. </tr>
  1280. <tr>
  1281. <td width="340" valign="top"><p align="center">60+ years</p></td>
  1282. <td width="347" valign="top"><p align="center">40%</p></td>
  1283. </tr>
  1284. </table>
  1285. <p>&nbsp;</p>
  1286. <h2>Projected additional benefits of paying</h2><h2>an extra 1% Additional Voluntary Contribution</h2>
  1287. <p>The values in the table below illustrate the additional pension benefits that you may receive at your normal retirement date ([pm_npd]) should you pay an additional 1% of your salary from the effective date ([1]) of this statement to your normal retirement date, [pm_npd].</p>
  1288. <p>The values in this table are projected to your normal retirement date.  The values do not make an allowance for the effect of inflation in future years.</p>
  1289. <table border="1" cellspacing="0" cellpadding="0" width="101%">
  1290. <tr>
  1291. <th width="15%" valign="top"><strong><br>
  1292. Projected Salary </strong></th>
  1293. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  1294. Fund Value</strong></p></th>
  1295. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1296. per annum</strong></p></th>
  1297. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1298. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  1299. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1300. per annum</strong></p></th>
  1301. <th width="15%" valign="top"><p align="center">Pension as a % of projected salary</p></th>
  1302. </tr>
  1303. <tr>
  1304. <td width="15%" valign="top"><p align="center">€[SORPS44]</p></td>
  1305. <td width="15%" valign="top"><p align="center">€[SORPS55]</p></td>
  1306. <td width="14%" valign="top"><p align="center">€[SORPS56]</p></td>
  1307. <td width="15%" valign="top"><p align="center">[SORPS60]%</p></td>
  1308. <td width="6%" valign="top"><p align="center">OR</p></td>
  1309. <td width="16%" valign="top"><p align="center">€[SORPS107]</p></td>
  1310. <td width="15%" valign="top"><p align="center">[SORPS108]%</p></td>
  1311. </tr>
  1312. </table>
  1313. <p>The values in this table are again projected to your normal retirement date but expressed in present day terms i.e. these figures make an allowance for the effect of inflation between the date of the projection ([1]) and your normal retirement date ([pm_npd]).</p>
  1314. <table border="1" cellspacing="0" cellpadding="0" width="101%">
  1315. <tr>
  1316. <th width="15%" valign="top"><strong><br>
  1317. Current Salary </strong></th>
  1318. <th width="15%" valign="top"><p align="center"><strong>Projected<br>
  1319. Fund Value</strong></p></th>
  1320. <th width="14%" valign="top"><p align="center"><strong>Personal Pension<br>
  1321. per annum</strong></p></th>
  1322. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1323. <th width="6%" valign="top"><p align="center">&nbsp;</p></th>
  1324. <th width="16%" valign="top"><p align="center"><strong>Joint Life Pension<br>
  1325. per annum</strong></p></th>
  1326. <th width="15%" valign="top"><p align="center">Pension as a % of current salary</p></th>
  1327. </tr>
  1328. <tr>
  1329. <td width="15%" valign="top"><p align="center">€[77]</p></td>
  1330. <td width="15%" valign="top"><p align="center">€[SORPS57]</p></td>
  1331. <td width="14%" valign="top"><p align="center">€[SORPS58]</p></td>
  1332. <td width="15%" valign="top"><p align="center">[SORPS61]%</p></td>
  1333. <td width="6%" valign="top"><p align="center">OR</p></td>
  1334. <td width="16%" valign="top"><p align="center">€[SORPS110]</p></td>
  1335. <td width="15%" valign="top"><p align="center">[SORPS109]%</p></td>
  1336. </tr>
  1337. </table>
  1338. <p><em>Explanatory Note(s);</em></p>
  1339. <p><em>Projection 2 (Projection for paying an extra 1% Additional Voluntary Contribution) illustrates the additional personal pension payable to you on your normal retirement date (</em><em>[pm_npd]</em><em>) should you elect to pay an additional voluntary contribution of 1% of your salary from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date (</em><em>[pm_npd]</em><em>).  This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1340. <p><em>As an alternative, also illustrated is a projected joint life pension that would be payable to you on your normal retirement date (</em><em>[pm_npd]</em><em>)  should you elect to pay an additional voluntary contribution of 1% of your salary from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date, </em><em>65</em><em>.  This projected pension would be payable in advance monthly instalments for your lifetime but is guaranteed to be paid for a minimum period of five years in any event.  This projected joint life pension includes an allowance for the payment of a pension in the event that you predecease a nominated dependant. The nominated dependant’s pension payments will continue throughout the dependant’s lifetime at a rate of 50% of the pension you would have received in retirement. The projected pension would increase in the course of payment by 1.5% per annum compound.</em></p>
  1341. <p><em>Projection 2 assumes you remain a member of the Scheme until your normal retirement date (</em><em>[pm_npd]</em><em>) and the payment of the 1% additional voluntary contribution is made from the effective date (</em><em>[1]</em><em>) of this projection to your normal retirement date, </em><em>[pm_npd]</em><em>. </em></p>
  1342. <br clear="all">
  1343. <h2>Social welfare benefits</h2>
  1344. <ul>
  1345. <li>The benefits outlined on this statement are in addition to any State benefits to which you or your dependants may be entitled.  State benefits are only payable from age 65 and are not available on early retirement.</li>
  1346. </ul>
  1347. <ul>
  1348. <li>The following are the Social Welfare benefits in force at [530]. These are usually revised upwards in the budget each year.  All state benefits quoted are those applicable to a fully qualified person.  Qualification for State benefits is subject to assessment administered by The Department of Social and Family Affairs, Pension Services Office, College Road, Sligo. Tel 1890 500 000 or detail can be found on their website <a href="http://www.welfare.ie/">www.welfare.ie</a></li>
  1349. </ul>
  1350. <table border="1" cellspacing="0" cellpadding="0" width="671">
  1351. <tr>
  1352. <th width="347" valign="top"><p>Benefit Description</p></th>
  1353. <th width="324" valign="top"><p align="center">Amount Payable</p></th>
  1354. </tr>
  1355. <tr>
  1356. <td width="347" valign="top"><p>State Pension Contributory (under 80)</p></td>
  1357. <td width="324" valign="top"><p align="right">€[523] per annum</p></td>
  1358. </tr>
  1359. <tr>
  1360. <td width="347" valign="top"><p>Additional Supplement for adult dependant under 66</p></td>
  1361. <td width="324" valign="top"><p align="right">€[525] per annum</p></td>
  1362. </tr>
  1363. <tr>
  1364. <td width="347" valign="top"><p>State Pension Contributory (over 80)</p></td>
  1365. <td width="324" valign="top"><p align="right">€[524] per annum</p></td>
  1366. </tr>
  1367. <tr>
  1368. <td width="347" valign="top"><p>Additional Supplement for adult dependant over 66</p></td>
  1369. <td width="324" valign="top"><p align="right">€[526] per annum</p></td>
  1370. </tr>
  1371. </table>
  1372. <br />
  1373. <h2>Who's who</h2>
  1374. <table border="1" cellpadding="0" cellspacing="0" width="671">
  1375. <tbody>
  1376. <tr>
  1377. <th valign="top" width="345"><p>Role</p></th>
  1378. <th valign="top" width="326"><p align="center">Who</p></th>
  1379. </tr>
  1380. <tr>
  1381. <td valign="top" width="345"><p>Trustees</p></td>
  1382. <td valign="top" width="326"><p align="right">[psa_name1(TRUSTEE1)]</p>
  1383. <p align="right">[psa_name1(TRUSTEE2)]</p>
  1384. <p align="right">[psa_name1(TRUSTEE3)]</p>
  1385. <p align="right">[psa_name1(TRUSTEE4)]</p>
  1386. <p align="right">[psa_name1(TRUSTEE)]</p>
  1387. <p align="right">[psa_addr1(TRUSTEE)]</p>
  1388. <p align="right">[psa_addr2(TRUSTEE)]</p>
  1389. <p align="right">[psa_addr3(TRUSTEE)]</p>
  1390. <p align="right">[psa_addr4(TRUSTEE)]</p></td>
  1391. </tr>
  1392. <tr>
  1393. <td valign="top" width="345"><p>Administrator</p></td>
  1394. <td valign="top" width="326"><p align="right">[psa_name1(ADMIN)]</p>
  1395. <p align="right">[psa_addr_name(ADMIN)]</p>
  1396. <p align="right">[psa_addr1(ADMIN)]</p>
  1397. <p align="right">[psa_addr2(ADMIN)]</p>
  1398. <p align="right">[psa_addr3(ADMIN)]</p>
  1399. <p align="right">[psa_addr4(ADMIN)]</p></td>
  1400. </tr>
  1401. <tr>
  1402. <td valign="top" width="345"><p>Investment Managers</p></td>
  1403. <td valign="top" width="326"><p align="right">[psa_name1(INVEST)]</p>
  1404. <p align="right">[psa_addr1(INVEST)]</p>
  1405. <p align="right">[psa_addr2(INVEST)]</p>
  1406. <p align="right">[psa_addr3(INVEST)]</p>
  1407. <p align="right">[psa_addr4(INVEST)]</p></td>
  1408. </tr>
  1409. <tr>
  1410. <td valign="top" width="345"><p>Employer contact</p></td>
  1411. <td valign="top" width="326"><p align="right">[psa_name1(SCHEME)]</p>
  1412. <p align="right">[psa_sig1(SCHEME)]</p>
  1413. <p align="right">[psa_addr1(SCHEME)]</p>
  1414. <p align="right">[psa_addr2(SCHEME)]</p>
  1415. <p align="right">[psa_addr3(SCHEME)]</p>
  1416. <p align="right">[psa_addr4(SCHEME)]</p></td>
  1417. </tr>
  1418. </tbody>
  1419. </table>
  1420. <p><em>No Liability is accepted by Invesco Limited for any errors and ommissions in this personal information Statement.   It is strictly confidential and is intended as an illustration addressed to the member named on the document.  Any disclosure, copying, distribution or action taken based on the contents in this document is strictly prohibited and Invesco Limited cannot accept any responsibility whatsoever arising from such actions.  Every effort has been made to ensure the accuracy of this document however this is not a contractual document and gives no right to benefit.  Those claiming benefits from the Scheme are only entitled at all times to those benefits applicable to them under the terms of the trust deed and rules, insurance policies, Revenue regulations and government legislation as applies from time to time in relation to the Scheme</em></p>
  1421. <br>
  1422. <h2>Transferring benefits from your previous pension plan</h2>
  1423. <p>In addition to the benefits outlined in this statement you may hold other pension entitlement(s) with previous employer(s) which could be transferred into this scheme.  You should contact the administrator of your previous scheme to establish the benefits to which you are entitled.  Benefits transferred into this pension arrangement are invested in your retirement account on a defined contribution basis.  Any transfer values received will provide you with additional benefits on your death, retirement or on leaving service.</p>
  1424. <p>Ultimately the benefits payable from the transfer payment received will depend on the investment return achieved by your fund(s) over the period to your retirement or date of leaving service, if earlier, and the prevailing annuity rates at that time.</p>
  1425. <p><br>
  1426. <strong> Pension Adjustment Orders</strong><br>
  1427. <br>
  1428. The Family Law Act, 1995 and the Family Law (Divorce) Act, 1996 oblige the Court to take the value of pension benefits into account in arriving at a financial settlement following the granting of a decree of judicial separation or divorce. The legislation only applies where the decree is granted, or the marriage dissolved, after the relevant Act was brought into operation i.e. 1st August, 1996 (judicial separations and foreign divorces) or 27th February, 1997 (Irish divorces). The legislation does not apply to separation agreements not involving the Court.</p>
  1429. {if([222]='N')then}
  1430. <p>Our records show that no pensions adjustment order has been issued in respect of your benefits, however if our records are incorrect in this regard you must contact us immediately providing us with a copy of the order. Should you wish to enquire about the effect and operation of such an order, further information may be obtained from the Pensions Board. www.pensionsboard.ie
  1431. </p>
  1432. {end if}
  1433. {if([222]!'N')then}
  1434. <p>
  1435. Our records show that a pensions adjustment order have been issued in respect of your benefits, however if our records are incorrect in thus regard you must contact us immediately in this regards you must contact us immediatley providing us with a copy of the order. Should you wish to enquire about the effect and operation of such an order, further information may be obtained from the Pensions Board, www.pensionsboard.ie.</p>
  1436. {end if}
  1437.  
  1438. <br />
  1439. <h2>Disputes Resolution Procedure</h2>
  1440. <p>The Trustees have established an Internal Disputes Resolution procedure to deal with certain complaints or disputes made by actual or potential beneficiaries in relation to the scheme.</p>
  1441. <p>The Trustees will endeavour to resolve the issue but in the event they are unable to do so the complaint or dispute may be submitted to the Financial Services and Pensions Ombudsman for review.  Generally the Financial Services and Pensions Ombudsman cannot investigate a complaint or dispute unless the matter has passed through the Scheme’s Internal Disputes Resolution procedure and the Trustee has issued their notice of decision.</p>
  1442. <p>The Financial Services and Pensions Ombudsman's web address is www.fspo.ie</p>
  1443.  
  1444. <br>
  1445. <h2>Pensions Board</h2>
  1446. <p>The scheme is registered with the Pensions Board under the registration number is PB PB2555.</p>
  1447.  
  1448. <br />
  1449. <h2>Revenue Commissioners</h2>
  1450. <p>The scheme has received approval from the Revenue Commissioners under Chapter 1 Part 30 of the Taxes Consolidation Act 1997.  The Revenue reference number is SF SF3505.</p>
  1451. <br>
  1452. <h2>Termination or amendment</h2>
  1453. <p>Your employer reserves the right to amend or discontinue the Scheme at any time but this would not affect the contribution already made to your Retirement Account.<br />
  1454. </p>
  1455. {end if}
  1456. {if([193]>0)then}
  1457.  
  1458. <h2>Income Protection Benefits</em></h2>
  1459.  
  1460. <p>In your working life, you and your dependant can enjoy the security of your income.  However this can be put at risk by certain events, such as disablement.  The Company has set out to relieve you of the greater part of any concern caused by such an event by setting up and bearing the full cost of an income protection plan.</p>
  1461. <p>Income protection plans, often referred to as disability benefit plans, are insurance contracts between an employer and an insurance company and are designed to provide a replacement income for employees if they are unable to work at their own or a similar occupation for a prolonged period of time due to illness or injury.</p>
  1462. <table border="1" cellspacing="0" cellpadding="0">
  1463. <tr>
  1464. <th width="319" valign="top"><p>Benefit Description</p></th>
  1465. <th width="347" valign="top"><p align="center">Amount Payable</p></th>
  1466. </tr>
  1467. <tr>
  1468. <td width="319" valign="top"><p>Member disability benefit</p></td>
  1469. <td width="347" valign="top"><p align="center">€[193] per annum</p></td>
  1470. </tr>
  1471. </table>
  1472. <p><em>Explanatory note(s);</em></p>
  1473. <ul>
  1474. <li><em>The income protection benefit shown above may be subject to insurer’s medical requirements.  If any medical evidence is required of you or any restrictions apply in your case, you will be notified accordingly. </em></li>
  1475. <li><em>State disability benefits to which you may be entitled are payable in addition.</em></li>
  1476. <li><em>Acceptance of a claim is strictly subject to the terms of the policy of insurance.</em></li>
  1477. <li><em>Prior to the acceptance of any claim for benefit, the insurer will require you, your general practitioner and any specialists treating you to provide them with detailed medical evidence to support your claim.  You should contact your employer 10 weeks prior to the end of the deferred period to start this process.</em></li>
  1478. <li><em>Income protection benefit is due to commence once a predetermined period called </em><em>the deferred period has passed since the onset of the condition leading to the claim.  In your case the deferred period is a continuous absence of 26 weeks. </em></li>
  1479. <li><em>If you are partially disabled as defined under the policy of insurance and suffer a reduction in earnings through reduced working hours or undertaking an alternative occupation at a reduced salary you may be eligible for a proportionate benefit.</em></li>
  1480. <li><em>Income Protection benefits will generally cease to be paid under the terms of the policy should you resume work, are deemed fit enough to return to work, your employment is terminated, you reach your normal retirement date, you retire early, you die or you take up an alternative occupation.</em></li>
  1481. <li><em>Income Protection benefits do not form part of your pension plan, they are not held in Trust for you.  The income protection policy is a contract between the insurance provider and your employer.</em>
  1482. </li>
  1483. </ul>
  1484. {end if}
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