Ref: CFS 1473
Information Requested: An ICBE member company has an employee who is retiring in one year’s time. They would like to know what is the best practice for managing the final year for the employee to allow them an easy transition into retirement?
Objective: To benchmark against other companies retirement policies
RESPONSES[s2If !is_user_logged_in()] You MUST be a registered ICBE member and logged in to view the Responses to this Call for Support. For more information about membership or to login please click here.[/s2If] [s2If is_user_logged_in()]
From: Greenslade, Julianne [mailto:Julianne.Greenslade@CookMedical.com] Cc: Sinead.o’email@example.com
Subject: RE: ICBE Call For Support – Transition to Retirement
We organise a day’s retirement seminar for employees up to 3 years away from retirement. The seminar goes through subjects such as tax, social welfare and healthy lifestyle. We also arrange one to one meetings with our pension administrators.
Contact is Sinead O’Brien – Sinead.O’Brien@cookmedical.com (as I am going on Maternity Leave next week)
From: David Taylor [mailto:firstname.lastname@example.org] Subject: RE: ICBE Call For Support – Transition to Retirement
In LEO Pharma we offer retirees a two day course on preparing for retirement run by the retirement council of Ireland. We do not adjust working hours for retirees
From: Barry, Helen [mailto:Helen.Barry@lakeregionmedical.com] Subject: RE: ICBE Call For Support – Transition to Retirement
We can help with this one if the company wants to call me.
All the best
From: Kelly, Ben [mailto:Ben.Kelly@analog.com] Subject: FW: ICBE Call For Support – Transition to Retirement
Hi Grainne, See link below, Regards,Ben
From: Pat O’Connor
Subject: RE: ICBE Call For Support – Transition to Retirement – FOR REVIEW
Mike Cusack sent this in as a response to the CFS –email@example.com (Helix HR & Management)
1. Offer a pre-retirement course – The best course is the one run by the Retirement Planning Council of Ireland. I have used it in the past and it is made available to the employee and his/her spouse or partner (if applicable).
2. If there is a pension scheme involved, organise that the employee receives as much information about options open to them regarding pension options – some people like to maximise tax free cash, others maximise monthly income.
2. Discuss with the employee the possibility of them working a reduced number of days per week, if the employee feels that they would like to. It should be raised in a diplomatic way.
3. Any conversation should start with offering the individual the choice of what they would like to do (and the Company being as accommodating as possible). Employees prefer if the subject is broached early and receive appropriate respect.
From: Aine Doherty [mailto:firstname.lastname@example.org] Subject: RE: ICBE Call For Support – Transition to Retirement
We have just developed a Retirement Process ourselves. I’d be happy to talk to this company and would be interested to hear what they are learning!
From: Murphy, Anne [mailto:A.MURPHY@kostal.com] Subject: RE: ICBE Call For Support – Transition to Retirement
In Kostal we plan for retirement a few yrs in advance by offering to send our employee(s) and their spouse / partner on a retirement planning seminar.
This is a one day seminar which covers:-
- Positive approach to retirement
- Wills & inheritance
- Personal Taxation
- Financial planning for retirement etc
Kind regards / Mit freundlichen Grüßen
Kostal Ireland GmbH
Automotive Electrical Systems / Automobil Elektrik
Co.Limerick / Ireland
Phone: +353 68 51323
Telefax: +353 68 51366