The CAT Financial Group Personal Pension Plan (GPP) is a defined contribution plan administered by Aegon. All new starters are automatically enrolled into the GPP.

A generous employer contribution

All new employees are automatically enrolled into the GPP, with an employer contribution of 10%. Employee contributions are voluntary. If you wish to make voluntary contributions, contact your HR consultant.

Money when you retire

The GPP gives you the flexibility of choice when you reach retirement. You can take up to 25% of your GPP account as tax-free cash and use the remainder to provide an income or take it as lump sum/s, subject to tax.

The size of your benefit when you come to retire depends on how much has been paid in, how long you invested for and how the market has performed in that time.

If you decide to buy an annuity (i.e., a guaranteed retirement income), annuity rates at the time you retire will affect the size of the annuity payments you receive.

When you are ready to retire, it’s a good idea to get some guidance about your options. Pension Wise is a government service from MoneyHelper that offers free, impartial pensions guidance about your defined contribution options. An appointment with Pension Wise is free and will take you through your options, and other factors to consider, to help you make the right decision for you. Book your Pension Wise appointment here.

Financial protection in the event of death or illness

A lump sum of 4x your basic salary will be paid (usually tax free) to the person you have chosen as your beneficiary if you die while you are employed by the Company.

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