Retirement Plan Solutions For Multi-national Employers
EFFECTIVE, FLEXIBLE GLOBAL SOLUTIONSRETIREMENT PLAN SOLUTIONSFOR MULTI-NATIONAL EMPLOYERS
CONTENTSIntroduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3About us. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4About the Isle of Man. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Why choose us. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Our independence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Client profile. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Bespoke solutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Off the shelf plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Individual plans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Mobile workforce. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Keep up to date online. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Contact us. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162CLIENT SERVICING TEAM 44 (0) 1624 697240
[www.iplan.imSimplicityfreedom from complexity, intricacy, or difficulty.ARE YOU AGLOBAL EMPLOYER?With more organisations workingacross multiple jurisdictionsand their employees becomingincreasingly mobile, the needfor an effective, flexible globalretirement plan is even moreimportant today.Expatriate or third countrynational (“TCN”) assignmentsare a significant investment foran employer and require a hugecommitment from the employee.Competition for these uniquegroup of employees is fierce,and the compensation packageemployers offer needs to reflectthe value employers place onthese key staff.simplify their retirement planningTCN and even some key localAs an expatriate or TCNyou require an internationalnational employees around theassignments can be relativelyretirement plan provider thatworld, it is vital to consult anshort and, over the course of acan understand your uniqueinternational retirement plancareer can take individuals toneeds. If you are a multinationalspecialist firm.multiple locations. Therefore, toorganisation that has expatriate,CLIENT SERVICING TEAMclientsupport@iplan.im3
ABOUTIPLAN RETIREMENTSOLUTIONSiPlan Retirement Solutionsshapes and sizes, operating inis a leading independent providerall corners of the world, we makeof international retirement plansit our business to reduce thefor multi-national employers andadministration impact on yourtheir expat and TCN employeesbusiness, as well as the uniquearound the world.needs of your global employees.iPlan Retirement SolutionsEstablished in 2009, we haveoffers our clients the security,built long term relationships withflexibility and commitment toour clients helping to supportservice they should rightly expecttheir employees saving for thefrom a partner chosen to managefuture. Based in the Isle of Mantheir global retirement plan.we are a registered “ProfessionalAs an established provider ofRetirement Benefit Schemesinternational retirement plans forAdministrator” with the Isle ofa variety of employers in allMan Financial Services Authority.[4Fairnessfree from bias, injustice or impropriety.CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imABOUTTHE ISLE OF MANThe Isle of Man is a British CrownDependency island located inthe Irish Sea between the UK andIreland. It is a politically stableand financially robust jurisdictionwith the oldest continuousparliament in the world. Theparliament, known locally asTynwald has had an unbrokenexistence for over 1,000 years.The island established itselfas an international financialservices centre with the creationof a specific financial servicesregulator in 1983. Unique at thetime, the Isle of Man introducedinternational pension regulationsunder the Retirement BenefitSchemes Act 2000 to cater for theglobally mobile employee.Although enjoying a closerelationship with the UK the Isleof Man has its own laws andindependent taxation.CLIENT SERVICING TEAMclientsupport@iplan.im5
WHY CHOOSEIPLAN RETIREMENT SOLUTIONSUsing the knowledge gained overthe years we believe we havechosen the best model for boththe employers who sponsor themand their employees that benefitfrom them.An insurance contract is an assetof the employer and thus notprotected from its creditors in theevent of it encountering financialproblems. The Trust on the otherhand is a contract between theemployer and the Trustee for thesole benefit of the employees(subject to any vesting rules theSECTOR EXPERIENCEbenefit sector providers can besplit into two types, those thatWe are a specialist companyutilise an insurance contractfocusing on the establishment,as the core vehicle and thoseadministration and oversight ofthat use a Trust structure. Weretirement benefit plans for theoperate using the Trust basedglobally mobile employee sector.model, our management teamThe international retirementhave experience in both camps.6employer may adopt). Insurancecontracts can be quite rigidrequiring the plan to adhere totypical attributes, whereas a Trustplan can be much more flexible,and rules can be adapted tomeet the requirements of theemployer.CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imPERSONALISED SERVICEOur team is dedicated tocalls or respond to their specificthe international plan operationsemails to steer them in the rightin the Isle of Man for AIG anddirection and resolve any queries.HSBC.providing all our clients, largeand small, with a high level ofOUR EXPERTISEservice with a personal touch.Rob Drummond is a Directorand holds a BSc (Hons) inMathematics and is responsibleWe understand that all multi-Our key management team havefor the client servicing team, Robnational employers are differentbeen with us from the start andhas been involved in financialand so too are their requirementscollectively have over 55 years’services for more than 20 years.for service partners they canexperience running retirementHaving spent the last 13 yearsrely on. We recognise thatplans for global employers.in various roles administeringour clients’ employees are ininternational plans.multiple different time zonesBrian Bodell is the Managingand will want access to theirDirector; he is a Fellow ofRob Webber is a Director andretirement plan information atthe Association of Charteredhas responsibility for managingtimes that suit them. To caterCertified Accountants and hasthe investment administrationfor this population we haveoverall responsibility for theand reporting team. Rob hasdeveloped a secure and intuitivecompany operations with specifica background in banking withweb portal available 24/7. Iffocus on overseeing accountinghis responsibilities focused ona member or their employerand regulatory reporting. He hasinvestment administration andrequires help navigating orbeen involved in retirement plancustody. Rob has been involvedmanaging their online account,administration for more than 20in retirement plans since 2007.our staff are happy to take theiryears and has previously headedCLIENT SERVICING TEAMclientsupport@iplan.im7
OUR INDEPENDENCEOur income is generated fromthe fees we agree with ourAs an independent retirementclients for managing their plans,benefits plan provider, wewe do not receive any form ofare accountable only to ourcompensation from the funds orclients, our participants andany other external party. We areour regulators. We offer a widefocused solely on our clients andvariety of investment optionsour success is intrinsically linkedwithin our plans, provided by theto the relationships we haveleading global fund managersdeveloped with them.giving employers the choiceof which funds their plan willutilise. By leveraging on longestablished relationships withthese fund houses we are able toaccess institutional class fundswhich are not ordinarily availableto individual investors, and whichoffer lower fund manager coststhan their equivalent retail classfunds.[8Transparencythe quality of being open, honest and clear.CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imWHERE OURCLIENTS OPERATEiPlan Retirement Solutionsproudly supports a diverse rangeof clients, large and small, aroundthe world in many jurisdictions,industries and sectors, includingbut not limited to: Multi-national Organisationsand Corporations Non-GovernmentalOrganisations (NGOs) Global Banks Global Contactor Companies International Schooland Universities Humanitarian Organisations Pharmaceutical Companies Individual Expatriates andThird Country NationalsCLIENT SERVICING TEAMclientsupport@iplan.im9
BESPOKESERVICES AND PRODUCTSiPlan Retirement Solutionscan provide its clients withbespoke solutions to meet theirspecific needs. Some employerswant a bundled solutionencompassing the variouselements of running a retirementplan with one provider whilstothers prefer to un-bundlethe services and contract withdifferent parties with specificstrengths or for internalgovernance reasons.We are happy to work withineither arrangement. Most of ourclients use a bundled approach,but we also provide TrusteeBespoke plans can bemany use this approach to closelyservices only to some and third-established that allow thereplicate the provision availableparty administration services tosponsoring employer totalto home country staff, such asothers.control to define the plan rules,401k or 403b type plans.10CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imOFF THE SHELFMULTI-EMPLOYER PLANSFor the employer who wantsthe iPlan Occupational takesa simpler, quicker option, oura product-based approach,flagship product, the iPlanrequiring employers to simplyOccupational Retirement Benefitsign up to the terms of the plan.Plan (“iPlan Occupational”)This is quicker and less expensiveprovides the solution.than creating a stand-aloneStructured as an umbrella Trustarrangement whilst still beingto accommodate multiplefully authorised and regulated byunconnected employers inthe Isle of Man Financial Servicessegregated plan accounts,Authority.The iPlan Occupational offers employers a large degree of flexibility over certain rules of the plan as wellas still providing access to the same independent funds from the leading fund managers. Some of the keyattributes as well as an example of some of the fund managers we can provide access to are listed below:KEY FEATURES OF THE IPLAN OCCUPATIONALFUND MANAGERS WE WORK WITHLow cost international retirement benefit planBlackRockOnline access for both employers and participantsFranklin TempletonSecure transmission of data through our plan portalGoldman SachsFlexible benefit options for participantsHSBCAccess to leading fund providersMFS MeridianReduced client administration strainPIMCOOption for leavers to roll over to a personal planVanguardCLIENT SERVICING TEAMclientsupport@iplan.im11
ROLL OVER TO APERSONAL PLANINTERNATIONAL PLANSFOR YOUR TERMINATINGEMPLOYEESIn most cases, sponsors ofan occupational retirementplan don’t really considerwhat happens to the accountof employees who leaveemployment before retirement.Inevitably this leads to someof these ex-employees leavingtheir benefits within the plan as“deferred accounts” which is notnecessarily what the employerwould want.We have established a roll-overoption to their existing plan andinternational retirement plan andproduct, the “iPlan Personal”thereby avoiding a build up oftransfer the institutional fundsto cater for these precisedeferred accounts in an employerthey have without the need tocircumstances. This solvessponsored plan over time. It alsosell out and re-invest.the problem for employers bygives the employee a simplegiving employees an equivalentoption to remain invested in an12CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imSUPPORTING YOUR GLOBALLYMOBILE WORKFORCEAs an employer supporting yourbenefit to your employeesoverseas assignees, you will be alland all while reducing yourto aware that personal concernsadministration strain internally.for themselves or their familiescan lead to an internationalCompanies and organisations inassignment failing, the cost ofmany industries and sectors relythis can often be significant toon iPlan Retirement Solutionsthe organisation. Thus, it makesbecause we have the experience,a lot of sense to invest in a goodknowledge and superior serviceemployee benefits package forthat they require. We work withthese key personnel, and a keyclients around the world whopart of that package should behave varying numbers employeesa retirement plan to take care ofwithin their expatriate and TCNtheir long-term financial health.populations. All our plans arefully compliant under FATCAAn international group retirementand CRS, we undertake all theplan does not have to bereporting required under theseexpensive or difficult to establishregimes.and maintain, selecting theright partner to bring this toAn international retirementfruition can significantly help.benefit plan provided by our firmiPlan Retirement Solutionswill protect your organisationscan provide you with the rightbottom line while helping youplan to meet your organisationsretain and attract the bestobjectives, provide a valuableemployees.CLIENT SERVICING TEAMclientsupport@iplan.im13
KEEP UP TO DATEAT WORK, AT HOME AND ON THE GOiPlan Retirement Solutionsdetails, nominated beneficiaries,We report annually on allprovides both employers andinvestment elections and securityaccounts under either the FATCAemployees access to their planinformation. It has the currentor CRS requirements dependingthrough a secure website tovalues using the latest unit andon the citizenship and residenceenable you to keep track ofpricing information and factof the relevant employees,your plan, the portal is laid outsheets provided by the fundensuring the plan remainsin a clear and easy to navigatemanagers. You can run reportscompliant with international legalstyle. It allows maintenance ofand statements as well as exportrequirements.data held on a participants’or print transactional data.account such as personal14CLIENT SERVICING TEAM 44 (0) 1624 697240
www.iplan.imLEGAL DISCLOSUREiPlan Retirement Solutions Limited isresponsible for any errors or omissions,advice. As such, it should not be used orregistered as a Professional Retirementor for the results obtained from the userelied upon as a substitute for consultationBenefits Scheme Administrator with theof this information. All information iswith professional financial, legal, tax orIsle of Man Financial Services Authority.provided as is and without guaranteeinvestment advisors.Please note that some of the productsof any kind, including any guarantee ofand services described or advertised incompleteness, accuracy, timeliness ofWe report annually on all accounts underthis brochure and on our various websitesinformation or of the results obtained fromeither the FATCA or CRS requirementsmay not be available to residents andthe use of this information, and withoutdepending on the citizenship andorganisations of certain jurisdictions,warranty of any kind, express or implied,residence of the relevant employees,depending on regulatory constraints,including warranties of performance,ensuring our plans remain compliantincluding Canada and the U.S. Pleasemerchantability and fitness for a particularwith international legal requirements.contact iPlan Retirement Solutionspurpose. iPlan Retirement SolutionsiPlan Retirement Solutions Limited isLimited for more information about yourLimited may make improvements and/orcommitted to ensuring the privacy of allspecific jurisdiction. The informationchanges in the products and/or servicesour clients. Staff conduct is bound by strictcontained in this brochure does notdescribed in this brochure or on ourclient confidentiality rules, respectingconstitute a solicitation to transactwebsites at any time without notice. Thethe private nature of all client data andbusiness in any way. While every effort hasinformation contained on this brochurecommunications. Please contact us forbeen made to ensure that the informationis provided upon the understanding thatmore details.contained on our websites is correct,iPlan Retirement Solutions Limited is notiPlan Retirement Solutions Limited is notproviding financial, legal, tax or investmentCLIENT SERVICING TEAMclientsupport@iplan.im15
iPlan Retirement Solutions Limited26-28 Athol Street Douglas Isle of Man IM1 1JBCLIENT SERVICING TEAM 44 (0) 1624 697240clientsupport@iplan.imwww.iplan.imiPlan Retirement Solutions Limited is a company incorporated in the Isle of Man No. 123460C and is registered with the Isle of ManFinancial Services Authority as a Professional Retirement Benefits Schemes Administrator.
a retirement plan to take care of their long-term financial health. An international group retirement plan does not have to be expensive or difficult to establish and maintain, selecting the right partner to bring this to fruition can significantly help. iPlan Retirement Solutions can provide you with the right plan to meet your organisations
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Keys to Retirement Planning — the Details 1 Retirement planning and investing for retirement are important — no matter which retirement plan you choose. Your FRS retirement plan by itself cannot provide enough for a comfortable retirement. Everyone needs to learn about saving and investing to help close the gap.
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