carolus
Apprentice
Joined: 09 Jan 2004
Posts: 1
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 Posted: 11/11/07 - 05:50 Post subject: |
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| I want to start setting my pension, beside my state pension which I already have. I’ve heard that this demands lots of paper and documents. It is a procedure, everybody says. I would like to know how much time and papers I have to prepare to deal with this stuff. Also I heard that I will have to make a pension plan, what is it? |
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bertie
Apprentice
Joined: 16 May 2004
Posts: 5
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| Posted: 12/11/07 - 02:26 Post subject: |
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First of all you will have to create pension plan which will have pension plan effective date, eligibility and membership, retirement dates, employee and/or employer contribution levels, benefit formula, death benefits and options available etc. After that you will have to collect all financial and statistical documentation. Within 60 days after the establishment of a pension plan, the following documents must be filed with the Pension Commission.
- investment contract or trust agreement
- the pension plan document accompanied by a copy of the by-law or board resolution of the employer establishing the plan and accepting the pension plan document
- the actuarial or cost certificate
- the employee booklet
- registration form and filing fee
The documents are reviewed by a Pension Analyst. Upon completion of the registration process, a Certificate of Registration is issued to the plan sponsor or employer.
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