basf ireland limited defined contribution plan · 2019-06-05 · post retirement investment these...

BASF Ireland Limited Defined Contribution PlanYour Investment Guide

Contents

Why Save

How the Plan Works

Options at Retirement

What type of an investor are you?

What types of assets are available?

Lifestyle Strategies

Aon Lifestyle Strategies

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4

5

6

8

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This booklet is accurate at May 2019. It may be revised because of changes in law and practice. Please check with your HR Department to be sure you have the latest version.A Glossary is included at the back of this document.

Self-Select Strategy 13

Glossary 17

Aon Delegated DC Services 18

Contacts 19

Why Save?

3

Irish people are living longer, healthier lives1 Young people expect to live

longer than ever before2

An average 65 year old will spend almost

22.5 years in retirement3 A person in their 20s today

will be expected to work until they reach age 704

By 2036, 20% of us will be age

65 or above5 State pensions are

unlikely to meet needs in retirement6

3

How the Plan works

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To help build income for your retirement, both you and the employer will make regular contributions to your Retirement Account. You will choose how to invest this money and the value of the Retirement Account you build up will be used to provide you with retirement benefits. The greater the amount paid into your Retirement Account while you are working, and the better the investment returns achieved, the higher your benefits will be when you retire.

This graphic is for illustrative purposes only and does not reflect actual market data. Values can fall as well as rise

Contribute

+ - =

Contributions InvestmentReturns

Costs RetirementIncome

Your Contributions

The employer’s Contributions

InvestmentReturns

Tax-Free LumpSum / Taxable

Lump SumPensionIncome

Post RetirementInvestment

These grow your Retirement

Account

Potential benefits

from your Retirement

Account

+ +

&/Or &/Or

Your Retirement Account

Grow Benefit

Your Principal Options at Retirement

Option 1 - Lump Sum & AnnuityYou can avail of a retirement lump sum up to a maximum of 1½ times final remuneration (as defined by the Revenue Commission-ers; if you have completed 20 years company service at Normal Retirement Age) and purchase an annuity (i.e. monthly pension) with the balance of your Retirement Account.

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Option 2 - Lump sum & ARF/AMRFYou can avail of a retirement lump sum of 25% of the value of your accumulated Retirement Account and invest the balance in an ARF/AMRF - no compulsion to purchase annuity, however you can always purchase an annuity with ARF/AMRF.

Retirement Lump SumIf you choose to avail of Option 2, the maximum retirement lump sum you may receive at Normal Retirement Date is 25% of the value of your Retirement Account.

The “set-aside” amount for investment in an AMRF (see below) or annuity purchase is currently €63,500 or the balance of your Retirement Account, if less.

Approved Retirement Fund (ARF)An ARF is an investment contract in which you can invest the balance of your Retirement Account, or alternatively, the balance of your additional voluntary contributions (AVCs) only, after you take your lump sum on retirement. Money is invested with a “Qualifying Fund Manager” (which includes banks, building societies and insurance companies) and may be invested in any manner you wish and will accumulate tax-free. Income tax, the Universal Social Charge (USC) and, if you are under age 66, Pay Related Social Insurance (PRSI), is payable on any money you withdraw from the ARF.

In order to take out an ARF, you must meet certain qualifying conditions. If you aged under 75 and you do not have a guaranteed income for your lifetime of €12,700 (known as “specified income”), you must invest a “set-aside” amount for investment in an AMRF or else purchase an annuity with this amount.

Approved Minimum Retirement Fund (AMRF)An AMRF is like an ARF except that you can withdraw only 4% annually from your AMRF until you are aged 75 unless you satisfy the “specified income” of €12,700 p.a. in the interim. When you attain age 75, or if you satisfy the “specified income” requirement after retirement but before age 75, the AMRF will become an ARF.

Taxable CashIf you qualify for an ARF, you may, as an alternative, take the balance of your Retirement Account remaining after your retirement lump sum as taxable cash.

OR

Retirement Lump SumUnder option 1, the maximum retirement lump sum you may receive at Normal Retirement Date (taking account of any retirement lump sums you are entitled to from any previous pension arrangements) is 1½ times your final remuneration (as defined by the Revenue Commission-ers) if you have completed at least 20 years’ service with your employer. A lower limit is imposed by the Revenue Commissioners for members with shorter service or members who leave service before Normal Re-tirement Date.

Annuity You may purchase an annuity (commonly referred to as a pension). An annuity is an insurance policy that provides you with a guaranteed re-tirement income for life. Depending on the type of annuity you choose, an annuity can include a minimum guaranteed payment period; it can increase annually; and it can provide for continued payments to a De-pendant after you die. Income tax, the Universal Social Charge (USC) and, if you are under age 66, Pay Related Social Insurance (PRSI), is pay-able on your pension payments.

What types of assets are available?There are many different types of investments, or asset classes. All funds invest in at least one asset type, and many invest in several. Understanding the different asset types puts you a step closer to making an informed decision.

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Cash or cash equivalent funds are generally more secure than other investment types, but typically offer low potential for growth. They can fall behind inflation over the long term. These funds will include bank deposits (similar to money held in a deposit account at a bank or building society) and other types of short term securities that earn interest. In extreme circumstances, some cash securities can fall in value.

If you plan on taking a retirement lump sum at retirement, a cash fund is likely to be a suitable choice shortly before you retire for the part of your Retirement Account you intend to take as cash.

A bond is a loan by a company or government, over a fixed period of time, and pays interest (coupon). Companies issue corporate bonds as a way to raise money. The level of interest payable depends on the creditworthiness of the company issuing the bond. Bonds issued by governments are considered less risky than corporate bonds because they have government backing. Governments with a high credit rating are the least risky.

Bonds tend to offer less potential for growth than equities, for example, but more potential for growth than cash. They also tend to move up and down broadly in line with annuity prices, so they’re often used shortly before retirement if the aim is to buy an annuity. The capital value can rise and fall as bonds are traded on markets.

Equities are shares in a company, which can be bought and sold on a stock market. The shareholder ‘owns’ part of the company, and the value of the investment will rise and fall depending on economic conditions, market conditions, and how well the company is doing.

Historically, equities have achieved higher long-term growth than other types of investments. That said, equity prices can rise and fall quickly, and sometimes dramatically.

Multi-asset or mixed funds are a mix of various asset classes. Since not all asset classes perform well or poorly at the same time, by diversifying across a range of asset classes, the fund manager actively aims to achieve growth with less volatility than with equities alone. These funds are more time-consuming to manage, so they usually have higher management charges compared with passive funds. Active management and passive management are defined in the glossary at the end of this booklet.

Cash

Multi - asset or mixed funds

Bonds

Equities

Relationship between risk and returnWhen it comes to investments, risk and return are related. In general, the higher a fund’s potential long-term returns, the higher the risks of lower (or even negative) returns can be in the short-term.

Please note the below graph is indicative only.

Equities

DiversifiedGrowth

Bonds

Cash

Pote

ntia

l Ret

urn

Pote

ntia

l Ris

k

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What type of an investor are you?Some people make their own decisions while others want to leave the decision-making to the professionals.

Read these profiles to determine the type of investor you are

Are you a ‘Do It For Me’ investor?If you don’t have the time, desire, or knowledge to take an active role in your Retirement Account, this may be the option for you. Investing in the Default Lifestyle Strategy helps take some of the guesswork out of investing.

Are you a ‘Help Me Do It’ investor?If you want to be involved but want some help along the way, this might be the option for you. Investing in any one of the Lifestyle Strategies allows you to tailor your strategy to how you plan to fund your retirement income.

Are you a ‘Give Me Full Control’ investor?If you want more control over your investments, and would like to take a more hands-on approach, investing in one or more of the Self-Select Funds may be suitable for you.

If you want to take a more hands-on approach, it is important that you take the time to read this guide and fully understand the char-acterisitcs of the Self-Select Funds.

IMPORTANT!!You cannot invest in a Lifestyle Strategy and one or more of the Self-Select Funds at the same time. If you choose a Lifestyle Strategy, you must invest in it 100%. The Self-Select Funds can be mixed with each other.

Do it for me

Help me do it

Give me full control

This approach relies on the Default Lifestyle Strategy

This strategy adopts a dynamic allocation to high equity growth funds and multi-asset funds, in the early years, with aim to deliver real long-term growth, while automatically increasing the allocation to less-risky assets as you near retirement. This is a hands-off approach, so it’s likely to be suitable if you don’t want to make regular investment decisions.

This approach gives you greater control over your investments

You are able to actively select one of the Lifestyle Strategies. The three Lifestyle Strategies available adopt a dynamic allocation to high equity growth funds and multi-asset funds, while you are young and aims to deliver real long-term growth. The allocation to less risky assets will automatically increase as you near retirement.

Each of the three Lifestyle Strategies targets a different way of taking your retirement benefits and you do not need to make regular investment decisions.

This approach leaves you free to choose funds from all of those available in your plan.

When you have taken full control, it’s important you keep a close eye on how your chosen investments are performing and consider the associated risks, particularly in the lead-up to retirement, having regards to how you intend to take your benefits at retirement.

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Your Investment Options

These strategies might work for….

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Do it for me investors

Help me do it investors

The Lifestyle Strategies automatically move your Retirement Account to the appropriate investment funds as you age. The objective is to allow your Retirement Account to grow while you are younger by investing in higher risk, higher potential return funds; and gradually move your Retirement Account to lower risk investment funds as you age, considering how you plan to take your benefits at retirement

There are two ‘phases’ to the Lifestyle Strategy: The Growth Phase; and The Pre-Retirement Phase

The Growth Phase applies until 7 years before Normal Retirement Date. During this phase, you are invested in a mix of investment funds which aim to achieve growth but with the risk profile reducing gradually with age.

The Pre-Retirement Phase applies within 7 years before Normal Retirement Date. During this phase, the investment profile will move as you near Normal Retirement Date, into funds which reflect how you intend to drawdown your pension benefits - see the next 3 pages for details.

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Lifestyle Strategies

Aon Lifestyle StrategiesThese strategies have been designed by Aon for members who do not want to actively make investment choices and who would like their fund to automatically derisk as they near retirement.

Cash Target Lifestyle Strategy (The Default Lifestyle Strategy)

The Cash Target Lifestyle Strategy has been designed by Aon to be suitable if you intend to take all, or most of your benefits as a single lump sum at your Normal Retirement Date. This is subject to the statutory qualifying rules and the payment of any tax liability that may arise on any part of the lump sum in excess of that part of your retirement lump sum entitlement which is not subject to tax.

■ The Cash Target Lifestyle Strategy invests in the Aon Growth Fund and Aon Diversified Growth Fund during the Growth Phase and gradually moves to the Aon Cautious Growth Fund and the Aon Cash Fund in the Pre-Retirement Phase, ultimately settling at 100% in the Cash Fund at Normal Retirement Date.

■ The Growth Phase applies until 7 years before Normal Retirement Date. During this phase, you are invested in a mix of investment funds which aim to achieve

growth but with the risk profile reducing gradually with age. The strategy is designed to provide real long term growth by investing primarily in a range of equities and multi-asset funds in the earlier stage of your career - the equity allocation is reduced as you get older in an effort to reduce fluctuations in the value of your Retirement Account.

■ The Pre-Retirement Phase applies within 7 years before Normal Retirement Date. During this phase, you are invested in a mix of investment funds which aim to manage investment risk as you near retirement.

20 Normal Retirement Date

Note: For illustrative purposes only

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Annuity Target Lifestyle Strategy

The Annuity Target Lifestyle Strategy has been designed by Aon to be suitable if you intend to take a retirement lump sum at retirement and use your remaining Retirement Account to purchase an Annuity.

■ The Annuity Target Lifestyle Strategy invests in the Aon Growth Fund and Aon Diversified Growth Fund during the Growth Phase and gradually moves to the Aon Pre Retirement Bond Fund and the Aon Cash Fund in the Pre-Retirement Phase, ultimately settling at 75% in the Aon Pre-Retirement Bond Fund and 25% in the Aon Cash Fund at Normal Retirement Date.

■ The Growth Phase applies until 7 years before Normal Retirement Date. During this phase, you are invested in a mix of investment funds which aim to

achieve growth but with the risk profile reducing gradually with age. The strategy is designed to provide real long term growth by investing primarily in a range of global equities and multi-asset funds in the earlier stage of your career - the global equity allocation is reduced as you get older in an effort to reduce fluctuations in the value of your Retirement Account.

■ The Pre-Retirement Phase applies within 7 years before Normal Retirement Date. During this phase, the majority of your Retirement Account is invest-ed in funds designed to reflect the broad characteristics of investments underlying the pricing of a typical Annuity product.




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ARF Target Lifestyle Strategy

The ARF Target Lifestyle Strategy has been designed by Aon to be suitable if you intend to access your retirement lump sum and use the remaining Retirement Account to invest in an Approved Retirement Fund (ARF), or Approved Minimum Retirement Fund (AMRF) at your Normal Retirement Date.

■ The ARF Target Lifestyle Strategy invests in the Aon Growth Fund and the Aon Diversified Growth Fund during the Growth Phase phase and gradually moves to the Aon Diversified Growth Fund and the Aon Cash fund in the Pre-Retirement phase, ultimately settling at 75% in the Aon Diversified Growth Fund and 25% in the Aon Cash Fund at Normal Retirement Date.

■ The Growth Phase applies up until 7 years before Normal Retirement Date. During this phase, you are invested in a mix of investment funds which aim to

achieve growth but with the risk profile reducing gradually with age. The strategy is designed to provide real long term growth by investing primarily in a range of global equities and multi-asset funds in the earlier stage of your career - the global equity allocation is reduced as you get older in an effort to reduce fluctuations in the value of your Retirement Account.

■ The Pre-Retirement Phase applies within 7 years before Normal Retirement Date. During this phase, the investment strategy is adjusted as you move closer to retirement.



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Self-Select Strategy

These strategies might work for….

Give me full control investors

With the Self-Select Strategy you decide where your Retirement Account should be invested. The current investment funds available for you to choose from are listed below. These have been constructed to provide a range of choices across the risk/return spectrum.

Self Select Funds ■ Aon Growth Fund ■ Aon Balanced Fund ■ Aon Diversified Growth Fund ■ Aon Cautious Growth Fund ■ Aon Pre-Retirement Bond Fund ■ Aon Cash Fund

The investment funds listed above are also the funds used in the Growth Phase and the Pre-Retirement Phase in the Lifestyle Strategies.

■ Control - Unlike the Lifestyle Strategies, you decide which investment funds are right for your circumstances at any given time. You can choose to invest in just one of the investment funds or in a number of them depending on what you believe works best for you.

■ Flexibility - You can switch in and out of any of the investment funds as often as you like and at any time that you like. Again, this is unlike the Lifestyle Strategies where the investment moves are pre-determined and happen at fixed dates during the year.

■ Tailored to you - If you decide to use ‘Self-Select’ instead of ‘Lifestyle’, the blend of investment funds you use will be completely personal to your own circumstances and risk attitude.

Key Features

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Self-Select Strategy These strategies might work for….

Give me full control investors

If you are a ‘Give me full Control’ investor, then there are a number of Self-Select Funds available. With the Self-Select Strategy, you can mix and match investment funds as you wish. Details of the self-select investment funds available to members are outlined below, and fund factsheets providing more detailed information on the asset mix and performance and the Annual management Charges (AMC’s) of each investment fund are available on the Plan website www.aonfocus.ie. The speedometers below are a quick reference for how risky each fund is in general.

Aon Growth Fund

Aon Diversified Growth Fund

High Risk

Invests in: Equities primarily. It may also invest in property and other growth type assets

May be suitable for you if:

■ You are more than 10-20 years from retirement age. ■ You are willing to ride out stock market risk to maximise potential long-term return. ■ You are willing to take the risks associated with investments in equities and other

growth-type assets. ■ You want the growth of your account to match or out-pace inflation over time.

Risk profile: This is a high risk investment fund. Values can go up and down substantially in the short-term.

Current Charges: Please refer to the Fund Factsheet for information on the Annual Management Charge (AMC).

Medium Risk

Invests in: A range of multi-asset funds, which provide exposure to a number of different types of assets at any one time.


■ You aim to spread your investments to help protect the value of your investments when markets are risky.

■ You want the growth of your account to match or out-pace inflation over time. ■ You plan to continue investing post retirement in an Approved Retirement Fund.

Risk profile:This is a medium risk investment fund. Values will fluctuate in line with market movements (and can go up and down) but will be less risky than an equity type investment. In periods of rising equity markets, this fund may not perform as strongly as equities as it invests across a range of asset classes (however, it shouldn’t fall as much as equities when equity markets are falling).

Current Charges: Please refer to the Fund Factsheet for information on the Annual Management Charge (AMC).

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A range of global equity and multi-asset funds, which provide exposure to a number of different types of assets at any one time.

■ You want exposure to stock markets to enhance long term return

■ also want to spread your investments to help protect the value of your investments when markets are volatile.

■ You want the growth of your account to match or out-pace inflation over time

■ You plan to continue your investments after retirement in an Approved Retirement Fund

■ You aim to spread your investments to help protect the value of your investments when markets are risky

This is a high risk investment fund. Values will fluctuate in line with market movements (and can go up and down) but will be less risky than an equity type investment. In periods of rising equity markets, this fund may not perform as strongly as equities as it invests across a range of asset classes.

Please refer to the Fund Factsheet for information on the Annual Management Charge (AMC).

Invests in:


Risk profile:

Current Charges:

Aon Balanced Fund

Medium/High Risk

Aon Cautious Growth Fund

Low Medium Risk

A range of funds which provide exposure to global fixed income strategies, currencies and money market instruments.

A range of bonds that reflect the broad char-acteristics of investments underlying the pricing of a typical level annuity product.

A range of euro-denominated deposits, short-dated bonds and money market instruments.

■ You are a conservative investor with a focus on preserving the value of your Retirement Account but are willing to take some risk in the expectation of achieving a modest return above cash.

■ You are approaching retirement and wish to reduce the level of risk that your savings are exposed to but would like to target a return above that avail-able on cash.

■ You are approaching Normal Retirement Date and intend to use a portion of your Retirement Account to purchase a pension.

■ You are close to retirement and want to avoid a sudden fall in value

■ You are funding for a cash lump sum at retirement.

■ You wish to protect a portion of the value you have built up in your account

This is a low-medium risk investment fund. Although the fund aims to exceed inflation and achieve a positive return, it is NOT a capital protection fund and hence the return from this fund could be negative.

This is a medium-high risk fund but should provide a close match to annuity prices for those intending to purchase a pension at retirement. It should be noted that increases in bond yields will result in capital value losses. However, such a fall in value will not reduce the pension purchas-ing power of the remaining fund, in broad terms, as annuity prices will typically fall by the same margin. This fund may not keep pace with inflation.

This is a low risk investment. Fluctuations in value should be minor. The fund is likely to deliver very low or no return and unlikely to keep pace with inflation (so the ‘real’ value of your investment may be eroded over time). This is NOT a capital protection fund. The return from this fund could be negative while deposit interest rates are low or negative.




Aon Pre-Retirement Bond Fund

Aon Cash Fund

Low RiskMedium Risk

Note on Annual Management Charges (AMCs)

The AMCs, which cover the costs and fees of investment management and investment consultancy (including delegated consultancy where relevant), are calculated and deducted from each fund on a daily basis. AMCs will vary according to the mix of managers and investments underlying a particular fund. For example, if a manager is replaced the AMC may rise or fall depending on the revised selection of investment managers and investment funds. You should refer to the Aon Fund Factsheets, which will be issued quarterly (via the Scheme website www.aonfocus.ie), for up-to-date information on each fund’s underlying investments. Any changes to the AMCs for each of the available funds will be updated separately in the AMC Factsheet on the Scheme website (www.aonfocus.ie).

Investment Warnings

This booklet is intended for information purposes only and does not constitute investment advice. Investment in any particular fund or funds described in the booklet may not be suitable for all members. You may wish to obtain independent financial advice prior to choosing which funds to invest in.

Although great care has been taken in selecting the investment funds made available to members, you should be aware that you bear the risk of incurring a loss due to the performance of the funds you are invested in (whether the Trustees have followed your direction or, in the absence of such direction, you have been invested in the default option), and the Trustees will not be liable for any such loss.

Any objective or target will be treated as a target only and should not be considered as an assurance or guarantee of performance of an investment fund or any part of it. An investment fund’s objectives and policies include a guide to the main investments to which the investment fund is likely to be exposed but the investment fund is not necessarily restricted to holding these investments only. Subject to an investment fund’s objectives, the investment fund may hold any investment and utilise any investment fund techniques, including the use of external insurance funds, securities lending and derivatives, permitted under the current regulatory rules by which investment of the fund is governed.

Some funds invest in a particular market, with the investment manager for that fund choosing the assets. You may only want to choose specialist funds like this if you are familiar with investing (and the risks it involves), or if you are familiar with that market or how the fund might behave.

If you invest in overseas funds, changes in currency exchange rates may affect the value of your investments. Some funds in regions where markets are still developing (often called ‘emerging markets’) may be especially volatile, with dramatic falls and rises in value.

Some funds have the ability to use derivatives in order to reduce risk or to manage the fund more efficiently. For example, derivatives may be used to gain exposure to specific asset classes or securities. Derivatives’ exposure is managed by the underlying managers to avoid excessive exposure to any single issuer. Some cash or deposit funds may invest in different types of short term debt securities and commercial paper. As a result, these funds can be more volatile than ordinary cash investments and may rise and fall in value. This means the value of your capital - the original amount you invested - is not guaranteed.

Warning: The value of your investment may go down as well as up, is not guaranteed and you could get back less than you have invested.

Warning: These funds may be affected by changes in currency exchange rates.

Warning: Past performance is not a reliable guide to future performance.

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Glossary of Useful TermsActive Management - Active management aims for returns that are higher than a particular market index. To try and achieve this, the investment manager carries out research (of a specific company, for example) before deciding whether or not to buy individual shares or other types of assets. So active management allows the investment manager to pick and choose the investments they think will perform well. Actively managed funds offer the potential for higher-than-average returns, but with the risk of a return below the market index.

Asset Class - a group of investments that have similar characteristics. Common asset classes are equities, bonds, property, cash etc.

Bond - a security issued by a government or company that provides regular interest payments and a return of the initial capital on a fixed date or dates.

Capital Growth - this is an increase in the market price of an asset.

Capital Value Risk - this is the risk that your capital (the money you have invested) will fall in value and you will get back less than you put in.

Default Fund - A default fund is the fund that the scheme trustee has chosen for scheme members who don’t make an active fund or strategy choice. Any members who don’t choose a fund or strategy will be automatically put into this Lifestyle Fund/Strategy. The Trustee has chosen this default fund as they believe this can suit ‘most’ members of the scheme but it may not suit your particular circumstances. If you’re in any doubt about whether a particular strategy or fund is suitable for you, you may want to talk to an independent financial adviser.

Diversification - spreading your Retirement Account across multiple asset classes.

Equities - are shares in the ownership of a company.

Inflation - is the rise in the general level of prices of goods and services in an economy over a period of time. Lifestyle Strategy - this is an investment strategy that automatically changes the asset classes it invests in depending on how close the member is to Normal Retirement Date.

Normal Retirement Date - The date when you are scheduled to retire and start receiving your retirement benefits.

Passive Management - Passive management aims for returns that are in line with a particular market index. To try and achieve this, the investment manager invests in broadly the same investments as the market, and in the same proportions, rather than selecting specific shares or securities that may or may not perform better.

Plan Administrator - Aon.

Retirement Account - Your retirement savings made up of all contributions paid by you and the employer and invested in line with your choices from the investment funds available.

Returns - the investment return is the percentage change in value of the investment over a given period of time. Positive returns increase the amount in your Retirement Account, negative returns will reduce it.

Risk - refers to the potential drawbacks of different types of investment.

Trustees - An individual or a company which alone or jointly becomes the legal owner of assets to be administered for the benefit of someone else (the beneficiaries), in accordance with the provisions of the document creating the trust and the provisions of trust law generally and the Pensions Act.

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Aon Delegated DC ServicesAon Delegated DC Services are provided through Hewitt Risk Management Services Ltd. (HRMSL) in conjunction with Aon Hewitt (Ireland) Limited and Aon Hewitt Limited IRL Investment Branch. Within this framework, HRMSL select and monitor the performance of the underlying funds and investment managers and take the necessary actions with the aim of ensuring that the construction of each of the investment funds offered is ‘best in class’.

Aon Delegated DC Investment Services provides DC pension trustees with access to what these parties consider to be superior investment expertise and stronger governance structures along with enhancing the level of support for members in helping secure financial stability and better retirement out-comes.

Using a robust governance model, Aon Delegated DC Services provides a range of white labelled self-select investment funds and DC lifestyle strategy designed to suit members’ needs, incorporating:

■ Access to best-in-class investment managers and a broader range of investment options

■ Better diversification of asset class and of manager risk ■ Access to an expertly designed lifestyle strategy ■ Potential for lower investment management fees through

bulk buying power ■ Continuous innovation and “future proofing” of proposition ■ Operational efficiency through investing in one fund platform

(currently through Irish Life Assurance plc) ■ Speed of action when implementing changes ■ Simple clear effective communication material, focussed on

clearly defined objectives and risk,culminating in a superior member experience.

Effective Communication

Potential for lower costs

Broader range of investment

options

More diversification

Operational Efficiency

DC future- proofing

Strong governance strucutres

Best-in-class asset managers

Speed of action

Greater access to investment

expertise

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ContactsFor information about the Plan or any queries please contact Aon.

[email protected]

1850 80 42 57

Plan website: https://www.aonfocus.ie

Aon, Building 5200, Hibernian House, Cork Airport Business Park, Co. Cork.

For help logging on, navigating the Plan website or submitting your benefit choices, please contact Aon by email or by telephone as detailed above.

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About Aon

Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: http://aon.mediaroom.com/.

Aon Hewitt (Ireland) Limited trading as Aon is regulated by the Central Bank of Ireland. Registered in Ireland No. 356441 Registered office: Block D | Iveagh Court | Harcourt Road | Dublin 2, | D02 VH94 | Ireland

Copyright © 2019 Aon Hewitt (Ireland) Limited. All rights reserved.

Nothing in this document should be treated as an authoritative statement of the law on any particular aspect or in any specific case.

basf ireland limited defined contribution plan · 2019-06-05 · post retirement investment these...

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