The Umbrella Retirement Benefit Plan gives organizations a simple way to offer employee retirement benefits—without running a separate scheme—through professional trusteeship in the insurance framework, at no extra cost.
Umbrella pension schemes
What it is
The Umbrella Retirement Benefit Plan offers organizations a simple and cost-effective way to provide employee retirement benefits without the burden of setting up and managing their own scheme. It removes the complexity of legal and regulatory compliance and allows companies to delegate trusteeship to professional experts in the insurance framework at no extra cost, ensuring smooth and hassle-free management even when staff changes occur.
Key features
- Hassle-free for employers – No need to set up or manage a scheme; administration, custody, and investments are handled. Employers only remit contributions and update staff changes.
- Immediate tax benefits – Members enjoy instant tax relief under a registered retirement scheme.
- Flexible contributions – Employers and employees choose contribution levels, with an option for additional voluntary savings.
- Choice of benefits – Select a Pension Fund (income + partial lump sum) or a Provident Fund (full lump sum payout).
- Custom retirement age – Members can choose their preferred retirement age.
- Cost-effective – Shared costs make the plan affordable, with no administration or audit fees on the umbrella scheme (only minimal regulatory charges apply).
Benefit services
- Fund management – Guaranteed Fund
- Scheme administration
- Scheme audit and assurance
Request a quote to join or set up an umbrella pension arrangement for your organization.
