AHCPS Salary Protection Scheme
Although many AHCPS members feel that they will never need the protection the Plan provides, sadly our experience has been that even the healthiest person can suffer unexpected illness or, indeed, have a serious accident. This is why membership of the Plan is so vital for every member as it’s designed to dovetail with your sick pay entitlements.
What happens to your salary if you fall ill?
If you fall ill for more than 92 days in any 12 month period, your pay is cut by half for a further 91 days. A maximum of 183 days in any rolling 4 year period is allowed before you are taken off the payroll altogether. Details of the sick leave arrangements can be found here.
If at this point you are forced to retire on grounds of ill health, you may be entitled to an Early Retirement Pension (ERP). Even if you have many years of service, your ill health Early Retirement Pension will only be a fraction of your pre-disability salary. If you do not retire, you will receive no income from your employer and only a small minority of AHCPS members who are paying PRSI at the higher ‘A1’ rate will be entitled to State Illness Benefit; but at just €9,776 (2015 level), this provides a subsistence level of income only.
How the Income Continuance Plan helps you
In return for a modest contribution from salary this Plan helps provide you with an income of up to 75% of your pre-disability salary in the event that you fall ill. It does this by topping up your Early Retirement Pension (ERP) and/or State Illness Benefit to 75% of your pre-disability salary. Claims under the Plan will be paid if New Ireland, the Plan’s insurer, is satisfied that because of injury or illness you are unable to carry out your normal job, and you are not involved in any other remunerative occupation.
Other benefits of the Plan include:
- Special arrangements for members going job sharing, taking a career break, unpaid parental or adoptive leave, unpaid maternity leave and unpaid leave.
- Payment of disability benefits will continue until you recover, go back to work, are deemed fit to return to work, die, or right up to age 65, if you remain unable to engage in your duties.
- An extra three months’ benefit paid after the death of a claimant – if a claimant who is receiving benefit from the Plan dies, New Ireland have agreed to pay an extra three months’ benefit to the member’s estate.
If you are a new member to the ICP or Transferring from FORSA scheme link to ICP Application Form
The policy is underwritten by New Ireland Assurance Company plc and the brokers are Cornmarket Group Financial Services Ltd.
For more information on financial products and services offered to AHCPS members by Cornmarket log on to www.cornmarket.ie
Christchurch Square, Dublin 8
Phone: (01) 408 4000
The Executive Committee and the Association accept no legal responsibility for the services provided to members under the various schemes and arrangements in operation