Annuity Plan: Overview

As an employer, The Annuity Plan provides the opportunity to buy an immediate or deferred income stream for an employee and his dependants. The Plan is available in a choice of six currencies.

The Plan can be used to secure:

• a defined benefit promise.
• a pension benefit on an employee’s retirement or on leaving service.

Payments from the Annuity Plan are tailored to meet agreed requirements. There are a number of options to consider. Payments may, for example, continue whilst an employee is alive, cease after a fixed period, reduce after death with payments continuing to a spouse or designated beneficiary. Other payment options are also available.

In addition, there are a number of payment increase options.  The level of annual increases can be chosen from the following range:

• a fixed increase of between 0% to 3%; or
• our discretionary bonus increase, which targets consumer price inflation but does not guarantee it (the increase could be higher or lower and could be 0%).