Service Overview
ESA Provident Fund (Voluntary Tier 3)
3.4. ESA Employer-Sponsored Scheme ( Tiers 2 & 3) | |
Service Concept | Many large organizations, for various reasons, want increased role in the management of their employee benefit schemes. By working closely with in house Trustees, ESA can design tailor-made pension arrangements to suit the requirements of a company and the objectives of its employees. ESA will assist with the preparation of scheme and registration documents. Once the scheme is registered, ESA will provide scheme administration services to enhance the overall outcomes of the schemes for both the employer and the employees. |
Objectives | Employer sponsored schemes are useful human resource tools for attracting and retaining highly skilled employees. They also provide employees a sense of financial security in working with the sponsoring company. |
Contributions | Contributions can be made through payroll deductions and are funded either by the employer, or employees or both at a mutually agreed rate. Contributions can be either pre-tax or after tax. |
Investment Options | Whatever the requirements of the company are, ESA is able to implement an appropriate investment program aimed at addressing the different risk and return profiles of the employees. Our lifestyle investment programs have successfully been applied for many of our master-trust schemes and can easily be replicated for large organizations opting for wide investment options in their pension program. |
Portability | Participants can transfer their benefits to and from the scheme whenever they change jobs. Transfers of benefits shall be subject to the vesting rules. |
Benefits | Companies on ESA-administered employer-sponsored schemes enjoy personalized services designed to meet the unique needs of a company and its workers. The services are tailor-made for large-size organizations to enjoy the full benefits of outsourcing. Aside our administration role, we also actively engage employees on pension educational programs for new joiners and persons approaching the age of retirement. |
Service Providers | Our experience in the pensions business has exposed us to the best service providers in the industry. ESA is able to recommend a team of fund managers and custodians to run personalized pension programs for large-size organizations. |
