AIB Group Pension Plan

Why should you consider setting up an employee pension scheme?

There are clear benefits to providing your employees with access to a pension plan, particularly if you decide to contribute to the arrangement on their behalf as well.

This can transform the way in which your employees view the company and the pension plan. By making a commitment to contribute to their retirement savings, you will:

• Recruit and retain high quality staff
  Offering a pension and contributing to it can help you with recruiting and indeed, retaining quality staff.  A pension plan will give your employees one less thing to worry about and one more reason to stay with you.
• Enhance and maintain performance at work
  Providing a pension, into which you as an employer are paying a contribution, is a very real indication of how much you value your staff. A valued workforce plays an integral part in continued high levels of performance.
• You promote the company's reputation as a good employer
  Your employees will consider their pension as a sign that you care about their current concerns and their future welfare. It can enhance your reputation as a responsible and considerate employer.
• You will maintain control of the costs to your business
  Don't forget that contributions that you make to a pension can normally be fully offset as a business expense for Corporation Tax purposes.

AIB - Innovative employee pension scheme solutions

As one of Ireland's leading financial services companies and one of the country?s largest employers, AIB is best placed to advise companies on the merits of establishing a good pension plan and demonstrate how it can bring considerable advantages to your company and employees.

In AIB we have a team of highly experienced pension experts, who are dedicated to ensuring the smooth running of your AIB Group Pension Plan. These experts are available to you through your local AIB Bank branch. They are here to help you through every stage of the process in setting up and managing your pension scheme.

• Scheme design   - Develop the optimum scheme structure to meet your unique requirements - e.g. how much to contribute, whether to make different contributions for separate categories of employees, what funds to offer, adding additional life & illness benefits for your employees and outline your obligations as a trustee.
• Investment Flexibility - Access to a choice of investment funds with different degrees of investment risk and with numerous fund managers. We also offer scheme members the opportunity to avail of the "lifestyle" investment strategy, which reduces the members' exposure to volatility as they near retirement age.
• AIB Group Pensions On-Line - We have developed a secure online facility that can provide you with:

-Immediate access to scheme details at the touch of a button,

-Fund details and fund mix at scheme and member level,

-Payment history allowing reconciliation with bank / payroll records (including transferred benefits),

-Risk benefits and the cost of these benefits,

-Employer, trustee and employee details.

• Employee enrolment and worksite marketing - communicating the benefits of your AIB Group Pension Plan to your employees & worksite marketing enables you to promote your pension plan to your employees and ensure that they recognise the benefit that you are providing to them. 
• Service Excellence: At AIB, we believe that when you choose to arrange a pension with us, you are building on a relationship that will last over time. We want to ensure that you feel you made the right decision, not only after one year, but also years into the future. Our dedicated team of pension experts and our proven administration platforms will ensure a high quality, professional service. In addition, we will provide ongoing support to your employees, as they can avail of our financial advisory service to help them achieve their wider financial goals.  
• Trustee Obligations -  We will work with you to ensure you understand and comply with your obligations under pensions legislation (including your Trustee obligations under the Pensions Act 1990) . We also provide support to trustees on Investment Management responsibilities.