Corporate pension insurance, also known as defined benefit pension plans, is a type of retirement plan offered by employers to their employees. These plans promise to pay a specific amount of money to employees when they retire based on a predetermined formula. This means that employees can rely on a fixed income during their retirement years, which can help them plan and manage their finances more effectively.
However, managing corporate pension insurance can be a challenging task for employers. They need to ensure that the plan is adequately funded, which means that they must set aside enough money to cover the promised benefits. They also need to keep track of regulatory requirements and make sure that they are meeting their fiduciary responsibilities.
If you are an employer offering a corporate pension insurance plan, it is essential to work with a reputable insurance provider who can help you manage the plan effectively. The provider can help you design the plan, ensure that it is compliant with regulatory requirements, and manage the assets to ensure that the plan is adequately funded.
At Pelican Insurance Brokers (K) Ltd we have mastered the metrics behind corporate pension insurance. Our professional staff will be with you at every level to ensure that your employees are satisfied and that you, as an employer, are empowered to provide value to your team and retain talent.
Get in touch with us.