A Stand-Alone Pension Plan (“SAPP”) is created specifically for large corporates who wish to maintain control and ownership of their own formal pension plan.
A SAPP is usually established as a Trust constituting of a minimum of 3 trustees on the Board of Trustees.
At Enwealth, we work closely with the sponsor to design a suitable scheme and draft constitutive documents that meet all regulatory requirements within the country of operation. The sponsor determines the contribution rates, pension terms and appoints preferred service providers.
For corporates with an existing SAPP, Enwealth provides support administration regarding reviewing the scheme’s governance framework, drafting the strategic plan, liaising with service providers and data reconciliation services.
Enwealth provides administration services for SAPPs including overseeing of the daily operations of the scheme. As part of our services, we provide quarterly administration reports to the trustees. Members can view their capital accounts in real time using our online portal. Click here to access our online portal.
For group of companies that have a presence in various jurisdictions, Enwealth provides administration services in line with the governing regulatory regimes.