Cornerstone has teamed up with a leading Maritime Pension Provider based in the UK, Ensign, and is now able to offer pensions to crew employed on Cornerstone managed yachts. As Ensign point out, ... "Whether you’re actively planning for it or if it’s still on a distant horizon, it’s never too early (or too late) to get your pension affairs in order…"

Initially designed with the French Decree of 9 March 2017 which implemented Article 5551-1 of the French Transport Code (1 January 2018) in mind, pensions are growing in importance within the yachting industry and we believe the ability to offer access to an appropriate scheme helps us stand out in terms of our overall offering.

The benefits of an Ensign Pension Scheme for both Owners and Crew

Low cost, high end services

Low cost, high returns, slashed admin, friendly service, flexible member options, recently reduced management charges and a new income drawdown service

Hightened employee morale

Boosted employee morale by being valued with a sense of inclusivity

Fully portable

Fully portable between participating companies; crew can combine earlier pension pots

Tailored product

Tailored for the transient, seasonal nature of seafaring professionals and longer tenures alike

24-hour TargetPlan access

Members have 24-hour access to TargetPlan, an online portal where investments can be monitored and changed, personal details can be updated, contributions tracked and pension values can be found

Single pensions pot

As life and employment circumstances change, members can continue to pay into the same pension pot as they join, leave and return to employers without cost or admin for employers

Defined contribution scheme

The plan is a defined contribution (DC) scheme. This means each crew members’ retirement fund is determined by how much is contributed and any investment returns

Flexibility

As life and employment circumstances change, members can continue to pay into the same pension pot as they join, leave and return to employers without cost or admin for employers

Retirement choices

A range of flexible retirement choices are offered. Options include taking up to 25 per cent as a tax-free cash lump sum, buying an annuity, deciding to draw down income over time, or a combination of all three

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