People are the heart of every business

At Nelson Life we have a mission to make pensions clearer.

Our goal is to simplify pensions and employer life insurance and cut through complexity.

Whatever the size of your business we have a solution available.

Attention all employers, this is important!

We can advise.

 

Even if you don’t operate a pension plan or certain restrictions apply to your existing scheme, by law you must ensure your employees have access to at least one Standard Personal Retirement Savings Account (PRSA).

An employer who is obliged to provide PRSA access in this way is must fulfil a number of additional specified requirements , including remittance and disclosure obligations.

We are here to help you and ensure that your employees consider the benefits of funding for their future longer term needs.

Retirement planning for company owners, directors and executives

An important aspect of planning for the future can be to identify funds in your business that may be surplus to what you currently need to finance your business today and to move these funds out of the business.

Have you considered a Master Trust ?

Approximately 1.3 million people in Ireland have no private pension provision.

And the pension landscape in Ireland is set to become even more challenging for employers, who need to critically think about the role of Trustees when setting up or continuing to run a Defined Pension Scheme. In addition, the certain introduction of auto enrolment.

There is a big opportunity for you and your business to enhance your pension offering.

Have you considered a PRSA

The Finance Act 2022 introduced a number of pension related changes, particularly in relation to PRSAs;

  • Improved funding limits* for employees and company directors, and all employer contributions receive tax relief in the year they are paid

  • Where an employee dies in service, the full PRSA fund is paid to their estate

  • Employer contributions to PRSAs are no longer considered to be a benefit in kind BIK

  • PRSA holders can drawdown their retirement benefits in stages, up to age 75, using multiple PRSAs

Life insurance for business owners and employees

There are certain times in people’s lives when they may need to put financial plans in place to protect their income or assets during their working lives or for retirement.

Employers can set-up cost effective cover for all employees, to proprotect beneficiaries against the financial impact of death, disability or accident when they need it most.

We have access to the strongest providers and their policies are designed to help businesses of all shapes and sizes.

We have access to the most comprehensive range of cover includes financial support as well as a wide range of unique benefits and services designed to support your staff and their families e.g. life insurance, salary protection and specified serious illness cover.

What is a Defined Contribution DC Master Trust ?

A DC Master Trust is designed for multiple non-associated employers under one trust arrangement. Each plan continues to be administered separately and importantly compliance with the new onerous regulator requirements. However, the employer scheme benefits from being under the one single trust and the economies of scale that go with it i.e. resourcing administration, investment management, trustee costs, legal advisor costs and auditing costs.

What do you need to do if you are an employer ?

You need to recognise the legislation has changed significantly and your scheme needs to begin to adapt.

What are the advantages of an employer using a Master Trust ?

The employer has no need to establish its own scheme, appoint registered administrators and investment managers or liaise with the Pensions Authority and revenue.

There is no need to appoint trustees or auditors to your scheme. This should reduce associated costs and senior management time in operating your own DC scheme..

Empower your employees

At Nelson Life we have access to financial solutions for your employees from the strongest providers.

  • Market leading technology, enhancing visibility and member engagement.

  • Solutions for all business sizes, offering your business the best fit plan, lower charges, more investment choice for your employees.

  • You will also continue to be free to decide on eligibility and the benefit structure for members.

  • Personalised on-site active engagement, promoting take-up and awareness.

  • Professionally qualified and depth of experience.

  • High quality administrative capability.