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Umbrella Plan


This plan design is most suitable to companies with a small number of internationally mobile employees looking to set up a cost effective plan. It is a trust arrangement that has been developed alongside an independent trust company who acts as a trustee of the plan and is the owner of the plan assets, which gives more security and comfort to employees.

The Umbrella Plan is a trust arrangement that has been developed by us along with an independent trust company. Its objective is to provide a cost effective corporate retirement plan, within a common framework, for employers with a small number of internationally mobile employees. The trust company then acts as an independent trustee of the plan and is the owner of the plan assets, which gives more security and comfort to employees.

Some features include:

  • The plan is available in US Dollars, Euro, Sterling and Swiss Francs.
  • Employer may choose the contribution frequency that suits them. The trustees then transfer the monthly ‘umbrella’ contribution amount to us as one lump sum.
  • The participating employer receives company and members’ valuation and transaction statements on a quarterly basis via the trustees.
  • Employees may switch / redirect investments on a quarterly basis.
  • Employee benefits are available in the form of a lump sum upon leaving service.
  • Individual transfer options available.

In-service withdrawals are not permitted within the umbrella structure.

 

The Trust Company

The Umbrella Plan is set up in partnership with Carey Pension & Benefit Ltd., one of Guernsey’s oldest and largest legal firms. They act as the independent trustees of the plan and are the owners of the plan assets. Each member has a segregated account and the trustees delegate the administration of the members’ accounts to Generali Worldwide.

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