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Information on Your Company Pension

While you are a member of the company pension scheme Irish Life will provide you with all the information you need in order to keep up to date with your pension plan & make the most of it.

As well as this booklet containing general information about the workings of your company pension plan, Irish Life Corporate Business provide other sources of information allowing you to continually monitor your pension situation.

Member Schedule or Member Booklet

When you join the company pension plan you will be issued with a Member Booklet or a Member Schedule. This is a personal schedule of your own pension details and those relating to your company plan. It also gives specific information on any death benefits or ill-health cover if it applies to your pension scheme.

This is a very important document and should be kept in a safe place as you will need to refer to it in the future.

This will be issued on an annual basis. Your pension benefit statement provides you with information on your individual pension fund, providing you with a breakdown of your contributions paid and total charges deducted. The statement will also inform you of the current value of your pension fund. The benefit statement also provides future projected values, giving you an idea of the type of retirement fund you should expect.

Online pension tools:

Pension Prophet - pension calculator

Pension Prophet is a pension calculator tool that helps you predict what level of retirement income you will have. It allows you to run hypothetical calculations based upon your personal information, contribution rate, assets and expense assumptions to determine their projected retirement assets, income and expenses and to create a plan to achieve desired goals. This is a graphic, easy to use, online projection tool that quickly shows the benefit of additional pension savings and the cost of delaying that saving. It also has a clever retirement income calculator that outlines typical day-to-day expenditure on different items and allows you to assess the amount of income that you may need in retirement.

Online pension calculator

Pension Planet Interactive

Pension Planet Interactive is a web-based facility designed to give users access to pension scheme information. Pension Planet Interactive has been designed as a user friendly system to help you to manage your own personal pension information in a more effective and efficient way.

Once trustees sanction it, you will be given access to Pension Planet Interactive. Then you can register and you will be given login information codes so that you can start the web application. This will allow you to check your pension fund value, check on recent transactions, check what pension funds you are invested in and how those funds have performed.

To link to Pension Planet Interactive click here

Pension Phone – Tel: 1850 258 258

As a company pension scheme member, Pension Phone allows you to check on your pension fund value using your telephone. If you have a touch-tone phone, you can call Pension Phone at any time between 8am and 10pm, 7 days a week. When you join the pension plan you will be issued with a PIN number to access your account on Pension Phone. The Pension Phone facility also allows you to check your fund value and how it breaks down between your investment funds. For extra security, you may at any time change your Pension Phone PIN number. Please note it may take a number of weeks after joining your pension plan for the Pension Phone service to apply.

Pension Education

Work-site presentations

At Irish Life Corporate Business, we are aware that you need information on your pension plan so that you know what you are aiming for in retirement. To address this we have developed the AIM initiative for pension education and awareness. We have a team of trained professionals (called the AIM team) who go out to your workplace and give a presentation on your company pension plan. They will focus on helping you to understand how the pension plan works, how to most efficiently save for your retirement and what kind of pension you should expect at retirement.

Pension funding letters

Once the pension plan has been up and running for a while we can provide pension funding information in the form of 'traffic light' letters. This is a really useful part of the AIM service as it informs you what kind of pension you should expect at retirement age if you continue your current level of saving. It is almost like a health check for your pension - letting you know what kind of shape your pension is in. If you get a green letter, then you should expect an adequate pension in retirement (50% of salary or more). An amber letter (expected pension between 35% and 50%) means that your retirement saving has room for improvement, whilst a red letter means that if you continue your current level of saving, your pension level will be too low in retirement (less than 35% of salary).

Traffic light letters are normally issued in conjunction with an AIM work-site visit. Talk to your HR area about getting the AIM team to come to your work place for an AIM Pension Health Check.

Pension Fund Investment Updates

Irish Life Corporate Business can provide you with investment fund information on how particular pension funds are performing.

Click here to view the fund fact sheets

WARNING: If you invest in this product you will not have any access to your money until your retirement date.

WARNING: The value of your investment may go down as well as up.

WARNING: The income you get from this investment may go down as well as up.

WARNING: The value of the fund may be affected by changes in currency exchange rates.

WARNING: If you invest in this product you may lose some or all of the money you invest.

Irish Life Assurance plc is regulated by the Central Bank of Ireland.

In the interest of customer service we may record and monitor calls. Irish Life Assurance plc, Registered in Ireland number 152576, Vat number 9F55923G.

Irish Life Assurance is part of the Irish Life and Permanent Group. Registered office is situated at Irish Life Centre, Lower Abbey Street, Dublin 1.

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