Defined Benefit Company Pension Plans
A Defined Benefit (DB) company pension scheme gives members a pension when they retire. It is based on the numbers of years service and their salary, as defined in the scheme rules.
We offer a one-stop Defined Benefit company pension package. All the services required to run a Defined Benefit company pension plan are under one roof i.e. pension administration, actuarial services, fund management and life assurance cover.
Our flagship Defined Benefit Administration and Actuarial Service is the key to a single source for all the requirements of your defined benefit pension scheme:
The advantages of our Defined Benefit service offering include:
- Single source - all Defined Benefit requirements taken care of in one place
- Fully compliant – all of the services we deliver will meet compliance requirements
- Low costs - we keep pension servicing costs down
- Freedom - the key decision makers are free to focus on their core business competencies
- Worry free - all regulatory and accounting deadlines satisfied
- Streamlined service - due to our significant investment in both systems and processes
- Flexibility – you can choose which particular services you require from the package
Features of our Defined Benefit Administration and Actuarial Service
DB Pension Administration Services
- Registered Administrator service > Find out more here
- Preparation of annual pension scheme renewals
- Documentation Services
- Abbreviated Trustee Annual Reports
- Communication and administration of all benefits paid by the pension scheme
- Pensions Authority annual fee payment
- Pension scheme wind-up services
DB Actuarial Services
- Full range of actuarial advice to both employer and trustee
- Regular client meetings
- Three yearly actuarial reviews
- Actuarial funding certificates
- Annual actuarial statements
- FRS17 and IAS19 accounting figures
- Pension funding proposals
- Benefit improvement/reduction work
- Pension scheme wind up calculations and advice
For more information please contact:
Enda Walsh
Head of DB Operations
Call: 01 704 2155
Email: enda.walsh@irishlife.ie
