SIPTU LAPO Income Continuance Plan Summary Booklet - Prismic

 
SIPTU LAPO Income Continuance Plan Summary Booklet - Prismic
SIPTU LAPO
Income Continuance Plan
Summary Booklet
SIPTU LAPO Income Continuance Plan Summary Booklet - Prismic
2   The SIPTU LAPO Income Continuance Plan
The SIPTU LAPO Income
Continuance Plan
Key benefits include

      1
                                                                     A replacement income of up to 75% of
                   Disability Benefit                                your annual salary if you can’t work
                                                                     due to illness or injury*

     2
                                                                     A benefit of up to twice your annual
                   Death Benefit                                     salary in the event of the death of a
                                                                     member

                                                                     An advanced payment of 25% of the

     3             Terminal Illness
                   Benefit
                                                                     Death Benefit if you are diagnosed
                                                                     with a terminal illness with death
                                                                     expected within 12 months

     4             Accidental Death
                   Benefit
                                                                     An additional benefit of €15,000 paid
                                                                     in the event of an accidental death

     5
                                                                     A benefit of €4,000 paid in the event
                   Children’s Death                                  of the death of a child between age
                   Benefit                                           0 and 21

*Less any other income to which you may be entitled e.g. half pay, Ill Health Early Retirement Pension, Temporary Rehabilitation
Remuneration, State Illness or Invalidly Benefit.

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The Plan in Action
The SIPTU LAPO Income Continuance Plan delivers on its promise to members.

    Over                                            Over
    €2.3 million*                                   €173,000*
    paid in Disability Benefit                      paid in Disability Benefit to
    to date                                         members each year

    Over                                            Over
    €570,000*                                       91%*
    has been paid out in Death                      of Disability Benefit claims
    Benefit to members’ families                    have been paid since the
    to date                                         2013 review
*Source: Irish Life, January 2017.

Why is Income Continuance                        income to keep the important things
so vital?                                        in your life on track - like your bills, your
                                                 mortgage, and your savings for the future.
The reality is that if you are employed in
the Public Sector you have less paid sick        For more information on Public Sector
leave from your employer since 2014. If          Sick Pay Arrangements, see page 14.
you fall ill, it may leave you with half your
income or none at all, depending on              Who is Cornmarket?
your sick leave history.
                                                 We have been administering the SIPTU
Although many members think they                 LAPO Income Continuance Plan since
will never need Income Continuance,              2006. We work on behalf of members to:
sadly an unexpected illness or injury can        • Negotiate with the insurers (currently
happen to anyone, at any age.                      Irish Life) to get the best possible rate
                                                   and benefits for members
The SIPTU LAPO Income Continuance Plan           • Assist those who need to claim from
aims to provide you with a replacement             the Plan, by guiding them through
                                                   every stage of the claims process.
4       The SIPTU LAPO Income Continuance Plan
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How the Plan works

If you fall ill and are unable to work, the Plan
provides a replacement income up to 75% of
salary (less any other income to which you
may be entitled e.g. half pay, Ill Health Early
Retirement Pension, Temporary Rehabilitation
Remuneration, State Illness or Invalidity Benefit).

WITHOUT Income Continuance
D Rate PRSI Example                                                     A Rate PRSI Example

 100%                                                                    100%
               €962                                                                    €962
               p.w.                                                                    p.w.
    75%                                                                    75%

    50%                                                                   50%
                           €481                                                                    €481
    33%                                                                   37%                      p.w.
                           p.w.                                         of salary                                €198         €204
of salary                                €321         €321                                                       p.w.         p.w.
                                         p.w.         p.w.
                                                                                                                  €158        €158
                                                                                                                  p.w.        p.w.
    0%                                                                        0%
            First 13     After 13     After 26     After 2                          First 13     After 13     After 26     After 2
            weeks        weeks        weeks        years                            weeks        weeks        weeks        years
            of illness   of illness   of illness   sick leave                       of illness   of illness   of illness   sick leave

    Sick Pay              Temporary                      Ill Health Early             State Illness               State Invalidity
                           Rehabilitation                  Retirement                   Benefit                     Pension
                           Remuneration                    Pension

6       The SIPTU LAPO Income Continuance Plan
WITH Income Continuance
D Rate PRSI Example                                                     A Rate PRSI Example

 100%                                                                    100%
               €962                                                                    €962
               p.w.                                                                    p.w.
  75%                                                                     75%
of salary                                                               of salary                  €240
                             €240
                                                                                                   p.w.          €365        €359
                             p.w.          €400        €400
                                                                           50%                                   p.w.        p.w.
  50%                                      p.w.        p.w.

                             €481                                                                  €481          €198         €204
   25%                                                                     25%                     p.w.          p.w.         p.w.
                             p.w.          €321         €321
                                           p.w.         p.w.                                                      €158        €158
                                                                                                                  p.w.        p.w.
    0%                                                                      0%
            First 13       After 13     After 26     After 2                        First 13     After 13     After 26     After 2
            weeks          weeks        weeks        years                          weeks        weeks        weeks        years
            of illness     of illness   of illness   sick leave                     of illness   of illness   of illness   sick leave

   Plan                  Sick Pay         Temporary              Ill Health Early          State Illness          State Invalidity
   Benefit                                 Rehabilitation          Retirement                Benefit                Pension
                                           Remuneration            Pension

This example is based on a Public Sector                                Arrangements (i.e. 13 weeks full pay in
employee, who is a member of the                                        one year, followed by 13 weeks half pay).
Superannuation Scheme with 20 years’                                    Extended paid sick leave under the
service. They are earning €50,000 per                                   Critical Illness Protocol does not apply
annum and are now unable to work due                                    and Ill Health Early Retirement Pension is
to illness or injury. This example is based                             granted after 2 years.
on the standard Public Sector Sick Leave

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Protection for you and
your family

1. Disability Benefit                         or Invalidity Benefit or Temporary
                                              Rehabilitation Remuneration for a
If you can’t work due to illness or injury,
                                              maximum of 2 years. In this instance as
the Plan aims to provide you with a
                                              no Ill Health Early Retirement Pension is
replacement income of up to 75% of
                                              being claimed, this amount will not be
annual salary, less any other income
                                              deducted from the amount of the Plan
to which you may be entitled (e.g. half
                                              benefit you receive.
pay, Ill Health Early Retirement Pension,
Temporary Rehabilitation Remuneration,
                                              If you do not apply for Ill Health Early
State Illness or Invalidity Benefit). The
                                              Retirement Pension after 2 years, Irish
maximum benefit is €100,000 per year.
                                              Life will deduct that pension amount,
                                              even if it is not being paid. If you
Disability Benefit is paid once your
                                              subsequently retire and the Ill Health
salary has reduced to half pay or
                                              Early Retirement Pension paid to you is
Temporary Rehabilitation Remuneration
                                              higher than the amount Irish Life was
is being paid and the insurer has
                                              deducting, then the additional amount
admitted your claim. Please see page
                                              of Disability Benefit paid since your early
16, Q7 How long will I be paid Disability
                                              retirement must be repaid to the insurer.
Benefit under the Plan? For more
information.
                                              2. Death Benefit
You may be entitled to an Ill Health Early    A benefit of typically twice your annual
Retirement Pension if you have more than      salary will be paid to your estate in the
5 years’ service and you are unable to        event of your death.
return to work due to an ongoing illness.
                                              This benefit is linked to your salary and
If you are making a claim from the Plan       changes each year in line with your salary.
and you do not apply for Ill Health Early
Retirement Pension (perhaps because           This is designed to provide financial
you intend to return to work), and Irish      support for your family at a difficult time;
Life agrees that there is a reasonable        as mortgage payments, day-to-day
expectation of you returning to work;         living expenses, household bills, and
then Irish Life may pay a benefit of          other expenses will still have to be paid
75% of salary less any State Illness          by those you have left behind.

8    The SIPTU LAPO Income Continuance Plan
Important information regarding the                             Terminal illness means an advanced
payment of Death Benefit                                        or rapidly progressing incurable illness
Revenue rules permit the payment of a                           where a member’s life expectancy
tax-free lump sum cash payment of up to                         is no greater than 12 months (in the
four times salary in the event of death in                      opinion of an attending medical
service before retirement. In the majority                      consultant of a major hospital in
of cases, therefore, the full amount of the                     Ireland or the United Kingdom, and
benefit under this Plan will be payable in                      Irish Life’s Chief Medical Officer).
tax-free lump sum form.
                                                                Cover for Terminal Illness Benefit ends
Any tax-free lump sum death benefit will                        at age 62.
be payable by the Trustees of the Plan
to one or more Dependants* chosen                               4. Accidental Death Benefit
in accordance with the Plan Rules.
                                                                An additional benefit of €15,000 will
You may, however, wish to assist the
                                                                be paid to your estate in the event of
Trustees in exercising their discretion by
                                                                your Accidental Death; that is a death
indicating the person(s) to whom you
                                                                resulting from an injury caused by
would wish the tax-free lump sum to be
                                                                accidental, violent, external or visible
paid by completing a Letter of Wishes.
                                                                means and that is in no way linked to
*Dependant means your Spouse or Civil Partner or Child
                                                                a sickness, disease or physical disorder
or any other person, who, in the opinion of the Trustee , is    that you have suffered from.
wholly or substantially dependent upon you for the ordinary
necessaries of life, or was so dependent during the two years
immediately preceding the date of death.                        5. Children’s Death Benefit
Any balance of death benefits that                              A Death Benefit of €4,000 will be paid
cannot be paid as a tax-free lump sum                           on the death of a member’s child.
will be applied to provide a pension for                        Children’s Death Benefit applies to all
your surviving dependants, subject to                           natural or legally adopted children aged
certain restrictions.                                           0-18 years (or up to 21 years, if the child
                                                                is in full-time education). Your name
3. Terminal Illness Benefit                                    must appear as the child’s parent on
                                                                their birth certificate, unless the child
The Plan will make an advance payment
                                                                has been legally adopted.
of 25% of the Death Benefit, if you are
diagnosed with a terminal illness where
                                                                The benefit payable shall only be
death is expected within 12 months. The
                                                                payable once in respect of any child,
balance of the Death Benefit is payable
                                                                regardless of whether or not both the
on death.
                                                                child’s parents are insured persons under
                                                                this policy.

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The Cornmarket Retired
Members’ Life Cover Plan

Members of the SIPTU LAPO Income
Continuance Plan can apply to join the
Cornmarket Retired Members’ Life Cover Plan
(underwritten by Irish Life) when they retire,
which provides a tax-free lump sum to your
estate on your death.

This is an extremely important benefit
of membership, as the vast majority           For more information on the
of SIPTU LAPO members still need Life         Cornmarket Retired Members’ Life
Cover (Death Benefit) when they retire.       Cover Plan and the benefits that
                                              it provides, call us on
What’s more, you can apply to join with       (01) 470 8054 or email
no medical underwriting if you:               clientservices@cornmarket.ie.
• Are a member of the SIPTU LAPO
     Income Continuance Plan and
• Apply to join within 6 months of your
     retirement.

10   The SIPTU LAPO Income Continuance Plan
How much does the
Plan cost?
The Plan is designed to be affordable for                       Cost examples
every member. The rates and benefits                            After tax relief is applied, the average
are negotiated on a special ‘group basis’                       cost for members is between €11 and €15
for SIPTU LAPO members, to provide you                          per week:
with remarkably good value.
                                                                 Income           Gross            Net**
Tax relief!                                                      €55,000          €18.34          €11.00
The Plan cost is currently set at 1.74% of                       €65,000          €21.67          €13.01
gross salary. You can claim tax relief on                        €75,000          €25.01          €15.01
your premiums to the Plan, so the net cost
is just 1.04% for the higher rate tax payer.                    Method of Payment

Please see table below:                                         Deducted from salary
                                                                If you pay your Plan premiums through
 Benefit                           Gross          Net**         your salary, tax relief will be applied
 Disability Benefit                1.00%         0.60%          automatically by your employer so
 Death Benefit                     0.74%         0.44%          you don’t have to submit a Tax Relief
                                                                Claim Form.
 Medical Immunity                 0.00%          0.00%
 Benefit*                                                       Direct Debit
 Total                             1.74%         1.04%          If you pay your Plan premiums by Direct
                                                                Debit, you will have to submit a Tax Relief
The current premium may change after the next Plan review       Claim Form in order to claim. Please see
which is scheduled to take place on/after 1st October 2019.
The Plan cost includes the Government Insurance Levy of 1%.     revenue.ie for more information.
*Allows members to join Cornmarket’s Retired Members’
Life Cover Plan, without medical underwriting. Terms &
Conditions apply.
**Assuming you are paying income tax at 40%. If you are         Please note
paying income tax at 20% your net contribution will be 1.39%.
                                                                If you are paying by Direct Debit, it is
                                                                essential that you notify Cornmarket
Please remember it is your responsibility                       of any change in your salary. Your Plan
to make sure the correct deductions                             premiums and the benefit that you can
have been made and are cancelled if                             receive from the Plan are based on the
needed.                                                         latest salary that you notified us of.

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Who is eligible to join?
You can apply to join the Plan if             Important:
you are:                                      • SIPTU LAPO members on paid or
1. A member of SIPTU LAPO (Local                unpaid maternity leave who meet
   Authority Professional Officers and          the eligibility criteria can apply to join
2. Under age 65 and                             the Plan.
3. Actively at work* and                      • SIPTU LAPO members who are job
4. Working 8 hours or more per week             sharing or work sharing and meet
   and                                          the eligibility criteria can apply to join
5. Employed under at least one of the           the Plan. The cost and benefits which
   following conditions:                        apply may be different to those for
   a) A permanent basis or                      permanent full-time members.
   b) A fixed-term contract of at least       • SIPTU LAPO members on a career
       12 months duration or                    break or any other unpaid leave
   c) Working continuously for the last         cannot apply to join the Plan, as they
       12 months                                do not meet the eligibility criteria.
6. In an employment grade of
   Professional Officer                       Important
                                              You must be a SIPTU LAPO member to
*Actively at work means that you:             be an eligible member of the Plan. If
• Are working your normal contracted         you leave SIPTU LAPO you must inform
   number of hours                            Cornmarket in writing, as you can no
• Have not received medical advice to        longer stay in the Plan and you will not
   refrain from work                          be able to claim from it.
• Can fully perform the normal duties
   associated with your job.
                                               How to join
                                               To apply to join the Plan, call
                                               Cornmarket on (01) 470 8054 or email
                                               clientservices@cornmarket.ie.

12   The SIPTU LAPO Income Continuance Plan
Here’s what o­ ther
­members have to
 say about Income
 Continuance
“I would recommend             “If I didn’t have Income Continuance,
                                 I wouldn’t have anything now – my home
 everyone to avail of            would be gone or I would be in very serious
                                 debt at this point. I never imagined I would
 the option to be in             need to claim from the Plan for something
                                 as simple as a fall and a broken arm.
 the Plan.”                      Because of my injury, I went from being in
                                 a full time job and in the gym three nights
                                 a week, to literally not being able to drive
Shelly Barron,
                                 or do anything on my own. Thanks to the
Cornmarket Income
                                 Plan, I could continue to pay my mortgage,
Continuance Plan Beneficiary.    my credit union loans, my grocery and
                                 mobile phone bills, and TV, electricity and
                                 broadband costs. The cost of the Plan is
                                 a very small price to pay to ensure that
                                 your home and your standard of living are
                                 protected. I would recommend everyone to
                                 avail of the option to be in the Plan.”

“I would recommend             “I was at work one day, went to take
                                 something off a shelf and just felt a
 joining Income                  pop. Then after a couple of days it just
                                 snowballed and I ended up not being able
 Continuance to                  to move my neck or shoulders. I realised I
                                 was going to be out of work for a while and
 everyone.“                      my pay was due to run out, so I contacted
                                 Cornmarket. I didn’t think I’d be out of work
                                 for as long as I have been and, thankfully,
Fiona Grace Purtill,
                                 the cover has continued. Cornmarket want
Cornmarket Income
                                 to ensure that you’re well and that when you
Continuance Plan Beneficiary.    go back to work you’re able to do your job
                                 long term. There’s no pressure put on you to
                                 go back before you’re ready. It really is such
                                 a relief! I would recommend joining Income
                                 Continuance to everyone.”
                                                          Visit cornmarket.ie 13
Public Sector Sick Leave
Arrangements
Standard Sick Leave                                              Temporary Rehabilitation Remuneration
Under Public Sector sick leave                                   This may be granted if there is a realistic
arrangements, you typically have                                 prospect of you returning to work.
access to paid sick leave of 13 weeks                            This is based on the accrued pension
(92 days) at full pay in one year,                               benefits which would have applied if
followed by 13 weeks (91 days) at half                           you retired on ill health grounds. Any
pay; this is subject to a maximum of                             added years arising from purchase of
26 weeks (183 days) in a rolling 4 year                          service arrangements are not taken into
period. If you exceed 183 days paid                              account, as no retirement has actually
sick leave you may receive Temporary                             taken place.
Rehabilitation Remuneration for a
further 18 months (548 days), subject                            Ill Health Early Retirement Pension
to the terms of the Public Sector sick                           Alternatively, if you retire on ill health
leave arrangements.                                              grounds you may be entitled to an Ill
                                                                 Health Early Retirement Pension. Even if
Extended Sick Leave for Critical Illness*                        you have many years of service, your Ill
Under the Public Sector sick leave                               Health Early Retirement Pension will only
arrangements, there is a Critical                                be a fraction of your salary. In addition,
Illness Protocol where you may be                                those paying PRSI at the ‘A’ rate may be
granted extended paid sick leave of                              entitled to a State Illness Benefit,
26 weeks (183 days) at full pay in one                           but at just €10,296 per year (2018 level),
year, followed by 26 weeks (182 days)                            the State Illness Benefit only provides a
at half pay, subject to a maximum of                             very small income.
52 weeks (365 days) in a rolling 4 year
period. If you exceed 365 days paid                              Any retirement other than Ill Health Early
sick leave, you may receive Temporary                            Retirement, will adversely affect your
Rehabilitation Remuneration for a                                claim.
further 12 months (365 days). Temporary
Rehabilitation Remuneration may be
extended for a further period up to a
maximum of 2 years (730 days).

*There are certain criteria used to determine whether an
illness qualifies for extended paid sick leave. Please contact
your HR Department for more information.

14     The SIPTU LAPO Income Continuance Plan
Frequently Asked
Questions

1. When does my membership                               • h
                                                            is/her average monthly earnings are, in the
                                                           opinion of Irish Life, reduced as a result of his/
begin?                                                     her partial disability to an amount less than
Your membership begins from the date Irish                 his/ her average monthly earnings during the
Life accepts your application. You will receive            twelve months immediately before the period
a letter from Cornmarket to confirm you have               of disability.
been accepted as a member of the Plan. In
some cases, medical evidence may be required             3. What is the Deferred Period?
before your membership can be confirmed.
This evidence can be gathered by telephone               The Deferred Period is the waiting period before
or through a medical examination, at Irish               you can claim Disability Benefit from the Plan.
Life’s expense.                                          The Deferred Periods for this Plan are as follows:

                                                         i. For Standard Sick Leave
2. How disabled do I have to be                             13 weeks (92 days) in a 12 month period or
to qualify for Disability Benefit                           26 weeks (183 days) in a rolling 4 year period.
under the Plan?
                                                         ii. For Extended Sick Leave
To qualify for Disability Benefit, Irish Life must be
                                                             26 weeks (183 days) in a 12 month period or
satisfied that you are totally unable to carry out the
                                                             52 weeks (365 days) in a rolling 4 year period.
duties of your normal occupation because of illness
or injury, and that you are not engaged in any
                                                         Please refer to page 14 for an explanation on
other occupation for profit, reward or remuneration.
                                                         standard and extended sick leave.
Definition of disablement
                                                         Please note
A member is disabled if, in the opinion of Irish
                                                         Any sick leave accrued before you became
Life, he/she is totally unable to engage in the
                                                         a member of the Plan will not be used when
duties of his/her normal job due to bodily injury
                                                         calculating the Deferred Period.
sustained or from sickness or illness contracted
and is not engaged in any other gainful job on a
full-time or part-time basis. Disability shall have
a corresponding meaning.                                 4. What is the definition of
                                                         salary?
Partial disablement shall be deemed to exist
                                                         For the purpose of this policy, salary is defined
where the member:
                                                         as:
• remains partially disabled due to illness or
   injury following payment of Disability Benefit        If you are a member of the Superannuation
   and                                                   Scheme
• undertakes a new job or his/her normal job for        Your basic gross annual salary plus an average
   profit or reward, with the consent of Irish Life      of any other payments in the 3 years prior to the
   and                                                   claim date*, which are taken into account for
                                                         sick pay and Superannuation purposes.

                                                                                     Visit cornmarket.ie     15
If you are not a member of the Superannuation                  occupation**. Disability Benefit payments will
Scheme                                                         stop at the earliest of the following:
Your basic gross annual salary plus an average                 • Y ou recover or
of any other payments in the 3 years prior to the              • Y  ou resign or
claim date*, which would be taken into account                 • Y   ou retire (except if you are claiming from
for sick pay and Superannuation purposes if you                     the Plan and retire on an Ill Health Early
were a member of the Superannuation Scheme.                         Retirement Pension) or
                                                               • You return to work or
*Claim date for Disability Benefit: end date of the Deferred
Period. Claim date for Death Benefit: date of death.
                                                               • Irish Life determines (based on medical
                                                                    evidence) that you are fit to return to work or
                                                               • You reach your 65th birthday or
5. When does my membership                                     • You die.
end?
                                                               **In certain cases, a proportionate benefit may be paid
Membership of the Plan ends on the earliest of                 where you return to work but at a reduced level of earnings
the following:                                                 due to partial disability.
• You reach your 65th birthday or
• You retire (except if you are claiming from                 Notice period if claim is ended
   the Plan and retire on an Ill Health Early                  For claimants receiving continuous payment for
   Retirement Pension) or                                      12 months or more, Irish Life will give 3 months’
• You resign or                                               notice before ending the payment of benefit; if
• You leave SIPTU LAPO or                                     the medical evidence indicates that the member
• You no longer fulfil the Plan eligibility criteria or       is fit to return to work on a full-time basis.
• Your premiums to the SIPTU LAPO Plan cease or
• You die.
                                                               8. What will happen if my
Important if you plan to retire                                Disability Claim is declined?
Please notify Cornmarket 10 weeks in advance                   If you claim is declined, the insurer will inform you
of your retirement date so that we can facilitate              of the reasons for the decision in writing. You
your application to join the Cornmarket Retired                may appeal the decision by sending additional
Members’ Life Cover Plan.                                      evidence supporting the fact that your claim
                                                               should be admitted to the Chief Medical Officer
                                                               of the Insurer. You must do this within 3 months
6. When does Disability Payment                                of the declined decision being made. The review
under the Plan begin?                                          of their decision may require you to attend
Once Irish Life accepts your claim (and you                    further Independent Medical Examinations.
have completed the relevant Deferred Period),
payment of benefit will begin. Please remember                 If you do not appeal, premiums must continue
it can take around 3 months to process your                    or restart in order for you to remain a member of
claim. Please see page 19, How to Claim from                   the Plan.
the Plan for more information.
                                                               If your appeal with the insurer is unsuccessful,
                                                               you may bring your case to the Financial
7. How long will I be paid                                     Services and Pensions Ombudsman.
Disability Benefit under
the Plan?
The Plan will continue to pay you for as long
as you are unable to carry out your normal
occupation (due to disability from illness or
injury), and you are not engaged in any other

16     The SIPTU LAPO Income Continuance Plan
9. What if I take a career break,                    11. What if I travel abroad?
take unpaid leave or change my                       As long as you remain resident within Ireland,
working hours?                                       you are covered wherever you travel in the world
If you plan to take a career break, unpaid leave     for holiday purposes. However, if you decide to
or change your working hours please contact          reside abroad or work abroad temporarily, you
Cornmarket on (01) 408 4195 to discuss the           must notify Cornmarket immediately as Irish Life
options that may be available to you or email us     reserve the right to change your premiums or
at spsadmin@cornmarket.ie.                           benefits, or cancel membership of the Plan.

If you wish to avail of the career break options     If you claim from the Plan, Irish Life will pay
you must apply within 4 months of taking a           benefit for a maximum of 6 months to a member
Career Break. Otherwise your membership of           living anywhere in the world. After 6 months the
the Plan will cease.                                 member must reside in Ireland or the U.K.

If you wish to avail of the Unpaid Leave options
                                                     12. What benefits do members
you must notify us at least 4 weeks in advance
of the commencement of unpaid leave.                 on a temporary contract get?
                                                     A claim from a member on a temporary contract
10. Are there any exclusions                         is treated in the same way as other members,
under the Plan?                                      please see page 19, How to Claim from the
                                                     Plan for more information. If a member cannot
Exclusions to Disability Benefit when:               work due to illness or injury and their contract
• C onditions are caused by self-inflicted injury   expires before the end of the Deferred Period
   or illness or                                     (13 weeks in any 12 month period), their claim will
• Disablement arising directly or indirectly from   be considered subject to the normal medical
   the breach of any law by the member, and          evidence requirement. For example, if a member
   where as a result they are sentenced by the       suffers an illness with 3 months or less remaining
   Courts to a term of imprisonment of 12 months     on their contract, and remains disabled to the
   or more, whether suspended or not.                end of the Deferred Period, their claim will be
                                                     considered in the normal manner.
Please note
In some cases individual members may be
accepted into the Plan subject to exclusions in
                                                     13. What if I have unearned
respect of specific conditions. Once an exclusion    income?
is applied, sick leave due to the excluded           In most cases, investment and rental income
condition, including the calculation of the          will not be taken into account when making a
Deferred Period, cannot be included in relation      claim under the Plan. However, benefit from any
to any aspect of the claim.                          accident or sickness policy will be taken into
                                                     account, except once-off lump sum benefits
Exclusions apply to the Accidental Death
                                                     paid under a critical/serious illness policy.
Benefit where death is caused directly or
                                                     Income from other sources, such as another
indirectly by:
                                                     employment, will be taken into consideration
• Taking part in any criminal act or                 when calculating the amount of benefit payable
• Taking drugs (other than under the direction       under the Plan.
  of his/her own or any other registered medical
  practitioner) or alcohol or
• Taking part in aviation (other than as a
  fare-paying passenger) or in motor car or
  motor cycle racing or
• That Insured Person’s deliberate act.

These exclusions do not apply to the main
Death Benefit element of the Plan.
                                                                                Visit cornmarket.ie   17
14. Under what circumstances
can the Plan be amended?
The next review of the Plan is scheduled to take
place on/after 1st October 2019.

These reviews provide Cornmarket with an
opportunity to canvass the market and secure
the best deal for members.

At these reviews, Irish Life can also change the
terms of the Plan, premium cost and the benefit
levels for all members in the Plan or terminate
the Plan altogether.

SIPTU LAPO represents the interests of members
in the Plan and any decisions made by SIPTU
LAPO will be binding on all members.

15. Who administers and insures
the Plan?
The Plan is administered by Cornmarket Group
Financial Services Ltd. and is underwritten by
Irish Life.

16. What commission does
Cornmarket receive?
 Initial charge
                                      €275
 (paid by Irish Life to Cornmarket)

 Deduction at source charge (DAS)     1%

 Renewal charge
                                      12.5%
 (paid by Irish Life to Cornmarket)

18    The SIPTU LAPO Income Continuance Plan
How to Claim from the
Plan - a step-by-step
guide
Our Income Continuance Claims Team are                 access to all of the information related to your
knowledgeable in guiding members through               claim; including medical and financial details.
the claims process. We are here to talk you            However, they cannot make changes to your
through the claims process and explain the             policy or cancel your policy.
documentation you need to provide.
                                                       Your nominated person will only be able to deal
1. Contact Cornmarket                                  with Cornmarket regarding your claim. They will
                                                       not be able to deal directly with the insurance
We are not automatically notified of your              company.
absence from work due to illness. Therefore
you should let us know as soon as you become
                                                       2. Your claims pack
aware that, due to illness or injury, your salary is
likely to reduce to half pay or cease altogether.      Once you have informed us that you wish to
                                                       make a claim, we will send you out a claim form
Therefore, we should be informed about 10-12           and tell you what information is required for Irish
weeks in advance to allow Irish Life to assess         Life to assess your claim.
your claim and gather the relevant medical
and employer information. If it is not possible to     The information required depends on the type of
contact us within this timeframe, Irish Life may not   claim you are submitting.
be able to pay your benefit at the time your salary
reduces or ceases. If your claim is subsequently       3. Processing your claim
admitted, then your benefit will be backdated.
                                                       Once we receive your completed claim form
You can contact us by:                                 we will send the details to Irish Life, so an
                                                       assessment of your claim can begin immediately.
Phone:     (01) 408 4018                               We will send on all documents as we receive
Post:      PS Claims Department, Cornmarket
           S                                           them from you and we will liaise between you
           Group Financial Services Ltd.,              and Irish Life throughout the claims process.
           Christchurch Square, Dublin 8.
                                                       It takes time to gather the necessary documents
Email:     spsclaims@cornmarket.ie                     to assess the amount of benefit to be paid
                                                       if your claim is admitted. Some of these
If you are making a claim, you may wish to             documents include:
nominate someone to contact Cornmarket on              • M edical evidence to determine disablement
your behalf to assist you with your claim, such as        (e.g. GP & specialist medical evidence and/or
your spouse or next of kin. If you wish to do this,       independent medical evidence) and
please send Cornmarket a letter, signed and            • Employer information (e.g. salary, sick leave,
dated by you, outlining the name, address and             half and off pay dates, State Illness Benefit,
date of birth of your nominated person.                   Temporary Rehabilitation Remuneration (TRR),
Please be aware that if you nominate someone              Ill Health Early Retirement Pension).
to assist you with your claim, they will have

                                                                                   Visit cornmarket.ie    19
For this reason, claims typically take around          In some cases, benefit may be paid where you
3 months to process from the date the claim            return to work at a reduced level of earnings due
form is received until the decision is made. Irish     to partial disability.
Life endeavour to assess and process claims as
quickly as possible.                                   If your Income Continuance claim is admitted
                                                       and you were paying your premiums by Direct
4. Medical examination                                 Debit, the benefit payable will be based on
                                                       the salary that you were receiving from your
The medical evidence you and your doctors              employer at the time the claim arises; assuming
provide will be assessed by Irish Life. In some        that you were paying the correct premium for
cases they will request that you attend an             this level of cover.`
independent medical examination (at Irish Life’s
expense) to help determine if you are able to
                                                       Short-term claims: As a result of the 2014
carry out the duties of your normal occupation
                                                       changes to Public Sector sick pay arrangements
because of your illness or injury.
                                                       there has been an increase in short-term claims.
                                                       With some short-term claims, the medical
5. Additional medical evidence                         evidence required may not be as detailed as
Depending on the complexity of your condition,         that required for a long-term claim.
in some cases Irish Life may require additional        Late notification of claims: It is often not
medical evidence from your doctors and/or              possible to assess the validity of a claim
specialists. You may be requested to attend            where a significant period of time has passed
a further medical examination (at Irish Life’s         (approximately 3 months) since your salary
expense).                                              reduced or ceased. For this reason, it is vital that
                                                       you register your claim promptly (10-12 weeks
                                                       before your salary reduces to half pay or ceases
6. Decision on your claim                              altogether). In the case of a late notification of a
Once all the medical evidence and                      claim, cases will be assessed on individual merit
documentation has been received, Irish Life will       and the insurer reserves the right to decline to
make a decision on your claim (please see page         assess the claim.
16, Q6, When does disability payment under the
Plan begin? for more information).

7. Your benefit
Once a claim is accepted, payment of the
benefit is made by Irish Life monthly in arrears.
Benefit payments are subject to income tax.

Your benefit will continue to be paid for as long
as you remain unfit to carry out your normal
occupation due to disability from illness or injury.

Please see page 16 Q7; How long will I be paid
Disability Benefit under the Plan? for more
information.

20    The SIPTU LAPO Income Continuance Plan
SIPTU LAPO Income Continuance Plan
This booklet outlines the main benefits of the     Consolidation Act 1997 and is established under
SIPTU LAPO Income Continuance Plan as of           Trust with formal Rules. All benefits payable under
September 2018. It is issued subject to the        the Plan are provided by means of one or more
provisions of the policy and does not create or    insurance policies with Irish Life Assurance plc.
confer any legal rights.
                                                   If there is any conflict between this document
The information contained in this booklet is       and the Policy Document, the Policy Document
based on our current understanding of Revenue      will prevail.
law and practice as at September 2018. The
SIPTU LAPO Income Continuance Plan is              Cornmarket is committed to providing a high
governed by the master Policy Document No.         level of service and has a complaint handling
21320 issued by Irish Life. Members of the Plan    procedure in place. If you feel that you have
may request a copy of the Policy Document from     not received a satisfactory level of service,
the Head Office of SIPTU LAPO or Cornmarket        please write in the first instance to Compliance
Group Financial Services Ltd.                      Department, Cornmarket Group Financial
                                                   Services Ltd, Christchurch Square, Dublin 8.
The Death Benefit is provided under Group
Life Assurance Plan No. 21320 issued by Irish      If you are dissatisfied with the outcome of your
Life. This is a Defined Contribution Scheme        complaint through Cornmarket, you may also
for the purposes of the Pensions Act 1990. It is   contact the Financial Services and Pensions
designed to qualify as an exempt, approved         Ombudsman at fspo.ie.
Scheme under Chapter 1 of Part 30 of the Taxes

                                                                               Visit cornmarket.ie    21
Notes

22   The SIPTU LAPO Income Continuance Plan
Visit cornmarket.ie   23
Join the Plan: Call us on (01) 470 8054
or email clientservices@cornmarket.ie

For general Plan queries: Call us on (01) 408 4195
or email spsadmin@cornmarket.ie
To make a claim: Call us on (01) 408 4018
or email spsclaims@cornmarket.ie
or visit cornmarket.ie

Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland.
A member of the Irish Life Group Ltd. which is part of the Great-West Lifeco Group of
companies. Telephone calls may be recorded for quality control and training purposes.
Irish Life Assurance plc is regulated by the Central Bank of Ireland.

24       The
12210 SIPTU   SIPTU
            LAPO      LAPO Income
                 ICP Summary           Continuance Plan
                             Booklet 09-18
You can also read
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