Individual Pension Plan

Are there a small number of employees, or one in particular, whose pension(s) you’d like to set up? Or is there someone that falls outside of your group pension plan? Then an Individual Pension Plan can be the perfect solution. It offers the broadest range of possibilities for a customized individual solution, especially if you want to make an exception for a certain employee.

With an Individual Pension Plan there is a guaranteed benefit that is insured, so that it is available upon retirement for the purchasing of pension(s). To determine the amount of insured benefit, you can choose from 4 basic principles:

  • Salary and years employed (final or average salary).
  • Pension amounts.
  • Benefit goal.
  • Available premium and/or available purchase price.

Why choose it?

  • If you want to insure either a small number of employers or just one.
  • If an employee is not covered by a group plan.
  • If you would like an individual customized pension solution for one employee.
  • A fixed monthly premium and a guaranteed amount of insured benefit.
  • Certainty for both you and your employee.
  • The policy can be taken over, as is, by a new employer.
  • Your employee chooses the type of benefit only upon retirement.

What’s covered?

  • Guaranteed benefit for the retirement of the employee.
  • Term Life insurance for your employee’s partner (optional).
  • Orphan’s Annuity (optional).
  • Disability Pension (optional).

How much is an Individual Pension Plan?

The costs are different for everyone. Because of its extremely personal nature, more customization and regular review are needed. That’s why the costs are slightly higher in comparison to a group pension plan. Let one of our experienced pension advisors discuss the possibilities with you.