Retirement planning is now a key consideration for internationally mobile employees.
Arranging suitable pension plans can be challenging for any company that operates on a multinational basis, as expatriate employees are usually not eligible to join domestic pension schemes in the country in which they are working, and there can be restrictions on continued contributions into pension schemes in their home country.
This can result in harmful interruptions in the payments made into expatriates’ pension schemes, whether defined benefit or defined contribution schemes, making it very difficult to achieve their retirement planning objectives.
Many expatriates now find this situation unacceptable, making international assignments within the company potentially unattractive and even prompting some to consider leaving to work for an alternative employer that offers effective international pension arrangements.
As a specialist provider, La Mondiale Europartner offers a new generation solution catering to multinational companies that are addressing this issue through an integrated, cross-border approach to pension management.
Our International Retirement Savings Plan is a flexible multi-currency group pension contract that:
- makes it easy for an employer to establish a regular savings plan for employees located in multiple locations around the world
- is a tax-efficient, defined contribution plan
- can be tailored to meet specific company needs - we work with employers to design an appropriate plan
from an expatriate employee’s perspective, the International Retirement Plan also offers great flexibility:
- extensive choice of asset types and investment managers, including access to funds offered by Russell Investments that are reserved for institutional investors
- virtually tax-free growth
- both regular and additional contributions accepted
- multiple currency options for contributions and benefits
- reports provided in different languages
- plan beneficiary can choose whether benefits are paid out in a single lump sum or as an annuity
Service and administration is provided by our dedicated multilingual support team. All employers are allocated their own relationship manager, providing a one-to-one personal service. Both employers and their employees are also able to access their individual accounts securely online to monitor transactions and the performance of their investment holdings.
The International Retirement Plan provides a specialist solution that can be used by employers to manage all the pension needs of all their expatriate employees, regardless of the location of the subsidiary where they work.