- Start Date - 21/01/2015
- End Date - 23/01/2015
- Start Time -
- End Time -
- Location - 123 St Stephens Green (Albert Theatre) / Boardroom (ERC Beaumont)
- Interested -
Dated - 23
Dear Colleagues,
Further to our Town Hall meeting in December I am confirming details of the improvement to our Defined Contribution pension scheme, and to invite you to a brief presentation and Q&A on the key considerations when planning for your future financial security.
Increase in RCSI contribution to the pension scheme:
A recent review of remuneration package identified a gap in the employer contribution to the RCSI Defined Contribution pension scheme between our current contribution level and the competitive position we aim to hold vis-a-vis other employers in the market. As a result, we communicated at the December Townhall that we have decided to increase the level of funding contributed by RCSI from 5% of base salary to 7%. There is no change to the level of contribution made by members (this will remain at 5%). This increase means that our level of employer contribution to the Defined Contribution pension scheme is now very much in line with the levels of contribution made by other leading organisations.
We made this decision as we are committed to maintaining an attractive reward package to our employees and we believe that it is extremely important for all staff to be supported in making provision for their longer term financial needs. With this in mind, we have arranged the following briefing sessions:
For eligible staff who have not yet joined the Defined Contribution Pension scheme:
In order to facilitate all eligible staff in understanding the benefits on offer, and in planning for your future financial security, we have asked our pension administrators, Willis Ireland, to provide a short presentation and Q&A session at the following times and locations:
Wednesday 21st January
St Stephens Green (Albert theatre)
1.15 – 2.00 pm (for those who have not yet joined)
Thursday 22nd January
St Stephens Green (Albert theatre)
1.45 – 2.30 pm (for those who have not yet joined)
Friday 23rd
Beaumont (Boardroom)
1.00pm (for those who have not yet joined)
These briefing sessions will also cover the use of the pensions calculator https://yourpension.ifg.ie/ on the Willis portal – a great resource for taking the hard work out of pension planning!
(Log-on details will be provided at the briefings).
I strongly encourage you to take the time to attend one of these highly informative briefings and to avail of this important benefit offered to you by RCSI.
Note: If your contract is funded by an external funding agency, please contact the Research Office or your PI for additional details regarding eligibility.
Information for staff who are already members of our Defined Contribution pension scheme:
In order to facilitate all current members of the scheme to understand your level of provision and to plan for your future financial security, we have asked our pension administrators Willis Ireland to provide a short presentation and Q&A session at the following times and locations:
Wednesday 21st January
St Stephens Green (Albert theatre)
12.30 – 1.15 pm (Current scheme members)
Thursday 22nd January
St Stephens Green (Albert theatre)
1.00 – 1.45 pm (Current scheme members)
The briefing will also cover use of the pensions calculator https://yourpension.ifg.ie/ on the Willis portal – a great resource for taking the hard work out of pension planning! (If you have misplaced your log on details for the portal, please follow the instructions on the link above.
Thanks,
Barry Holmes
Director of Human Resources