Who is eligible to join?
All members of the AHCPS under age 65 who are employed in permanent pensionable employment.
What if I leave the AHCPS?
In such circumstances you are no longer eligible for membership of the Plan. You should therefore write to Cornmarket to cancel your membership. Cornmarket may, depending on your circumstances, be able to offer you an individual policy providing similar cover.
When will the benefit commence?
After 26 weeks of illness in any 12 month period the Plan pays you an income of 25% of the pensionable salary you were earning before you fell ill topping up your sick pay to 75%.
Once you have been ill for a full 52 weeks in total over a 4 year period, the Plan will pay out a full 75% of pensionable salary less any Early Retirement/Pension rate of pay and/or Social Welfare Disability to which you are entitled.
Does the Income Benefit remain static?
The benefit paid to you by the Plan increases by 5% each year or the rate of increase in the Consumer Price Index if lower. This helps ensure the benefit you receive remains realistic despite the effect of inflation.
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How much does the Plan cost?
0.65% of salary.
What tax relief is available?
Your contributions qualify for tax and PRSI relief up to 47%. This means that the net cost to a higher-band taxpayer is only 0.51% of salary (assuming 41% tax and PRSI at the D1/B1 rate of 2.9%). Based on a salary of €75,000 per annum, this would equate to €14.65 per fortnight.
Why should I join now?
New AHCPS members will be accepted into the AHCPS Plan on application, if they can satisfactorily complete the application form (current members of any similar scheme in force for Civil or Public Servants have a preferential arrangement for joining the AHCPS Plan)
How do I join the Scheme?
Simply complete the application form (PDF, 2MB) and submit to Cornmarket Group Financial Services Ltd. Christchurch Square, Dublin 8.
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