International Pension Plan

We understand the challenges that globalization and increased international mobility bring to your business. Our International Pension Plan is a retirement and savings solution that may be more appropriate for expatriate and globally mobile employees than remaining in a home pension plan or joining one in the country where they are working. It is also an excellent solution for employees who are working in locations where no pension arrangement exists.

Our international pension plan offers:

• Flexible retirement savings for internationally mobile employees
• A single plan for employees working outside their home country
• Employer or trustee ownership – a trustee-owned plan ensures the assets are independently controlled and employees’ retirement benefits are protected
• Low-cost institutionally priced funds and a transparent fee structure
• Passively and actively managed funds, covering the majority of sectors, asset classes and geographical regions
• The ability to set your own eligibility criteria, vesting rules, contribution levels and multiple currencies to fit your business
• Flexibility around contribution frequency – single contributions, regular contributions or as a combination of the two – plus the ability to accept transfers subject to any local legislative requirements and the rules of the existing plan
• Plans can be set up in any of eleven currencies, and benefits can be paid in any freely convertible currency
• The ability to configure member accounts in the same currency in which their contributions will be paid and in which they will invest, in order to eliminate any currency conversion costs
• Round-the-clock, password-protected access for plan administrators and employees through Zurich International online (ZIO), our secure internet-based plan administration system
• A range of leaving service options

We will help you to communicate the benefits of your plan by offering a range of engaging and effective communications that make it easy for employers to understand and join the plan

When it comes to leaving employment and retirement, an international retirement savings plan’s flexibility generally stops, with a significant number of employers requiring members to take their accrued benefits as a lump sum as soon as they leave employment, regardless of whether it is right for them. The International Deferred Benefit Plan addresses this issue by allowing them to transfer their benefits into a new plan where they can:

• Continue to benefit from any investment growth, through a range of low-cost risk rated investment funds
• Benefit from competitively priced, transparent product charges
• Use a regular withdraw facility to provide an income until such time as they wish to withdraw their full lump sum, penalty free
• Manage their investments on-line, with access 24/7

When working with new employers we are often asked to share our experience.  Our industry insight brochures focus on typical industries that find the international pension plan an effective way to provide retirement savings for their mobile workforce, such as the oil and gas, shipping and hotel and leisure sectors.  

Each brochure provides a typical plan profile including contributions, investments, fee and leaving service options which can be useful for employers that are considering setting a new plan.  Take a look.