Newsletter / Updates

Newsletter 

National Federation’s Pension & Life Assurance Scheme Newsletter June 2020

Investment updates:

Other updates: 

Pension Scheme On-Line (PSOL):

In addition to a member’s Annual Benefit Statement, a member can access their pension fund details through New Ireland’s Pension Scheme Online (PSOL) service. 

Each member is able to:

  • Access details on their pension fund at any time;
  • View and reconcile online pension contributions paid by them and their employer;
  • Check payments over any time period;
  • View current fund value;
  • View fund information / performance.

Please click on the PSOL member video to get further information on how to register for PSOL and the functionality of the platform.


Webinar 2021

In line with Covid 19 restrictions the New Ireland Consultants appointed to our Pension Scheme, namely Brian Deegan, Cushla O’Neill and Claire Parsons, are unfortunately unable to currently travel to all of our members’ places of work to brief members face to face on our Pension Scheme and therefore, we have produced a webinar to ensure information continues to be shared with members about our Pension Scheme.

This webinar provides members with information on:

  • The Pension Scheme and members entitlements;
  • What investment options are available to members as they save for retirement;
  • How has members pension fund performed recently; and
  • Where can members get further information on their pension fund and who should they contact.

You can access the webinar here

Annual Management Charge

The Trustees commenced a review of the National Federation of Voluntary Service Providers’ Pension Scheme during 2020 and this work is still ongoing.  As part of the review process, the Trustees have secured a significant reduction in the Annual Management Charge effective from 1st January, 2021.  Details of these reductions can be viewed here

Statement of Reasonable Projection – Assumption Changes

When a member initially joins the Pension Scheme, they will receive from New Ireland a Statement of Reasonable Projection i.e. an estimate of their pension benefits at retirement.  Every year thereafter, the member will receive an Annual Benefit Statement, which will confirm their pension fund value and provide an updated estimate of their pension benefits at retirement.  In calculating the member’s pension benefits at retirement, New Ireland are obliged to adopt the Society of Actuaries’ assumptions on growth rates, inflation rate and interest rates for annuities.   The Society of Actuaries have recently made changes to their assumptions to reflect the long-term market outlook. The assumption changes can viewed here.

 

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  • Phone: +353 91 792316
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  • Email: info@fedvol.ie
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