Is your Pension Scheme adequate?

The following checklist may help.

Pension Funding:

• Has this been reviewed following the introduction of the ARF's?
• Has the company expanded its workforce to the extent that there could be new entrants?

Early Retirement:

• Have you any aspirations towards early retirement?
• If you are within a few years of retirement, would you be interested in maximising your funding?
• If you are at retirement point, have you thought about the back dated AVC facility?

Risk Benefits:

• Is there cover in respect of:
• Group PHI?
• Life Assurance?
• Group Critical Illness?
• Keyman?
• Are there any categories of employees who are not presently covered?

Adequacy of Cover:

• Is the level of cover adequate?
• Are pension premium costs covered under Group PHI?
• Are spouses pensions provided under the Life Assurance benefit?

Additional Voluntary Contributions:

• Is there provision for AVC's?
• If you do not hold the main pension scheme, is the company happy with its existing AVC scheme?

Pension Mortgages:

• Have you any new or existing mortgage facilities in mind?
• If so, have you thought about repaying the principal by expanding your pension plan?

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