Definitions and Interpretation
These terms and conditions use certain specific terms (sometimes referred to as defined terms). You will know a defined term as the first letter is a capital letter. When these terms are used, they have a specific meaning. The meaning of these defined terms are as follows:
- Account Number
- means Your unique employee identification number which is required to access the Online Services;
- Employer ID
- means the employer security information for access to the Online Services;
- refers to Your pension fund;
- Willis HC&B Ireland
- means Willis HC&B Ireland Limited, the provider of the Online Services, an Irish limited company, having its place of business at Elm Park, Merrion Road, Dublin 4;
- Our, Us and We
- also refers to Willis HC&B Ireland;
- Online Services
- means the mobile app, (https://yourpension.willis.ie) (the "App") and or the member portal, (secure.pensco.ie) (the "Portal");
- means the personal identification code issued to You for the use of the Online Services;
- means Your pension plan;
- means Your pension scheme;
- Security Information
- means Your Account Number and PIN;
- means these terms and conditions;
- Trustees' means the trustees of Your Scheme;
- means You, the person using the Online Services. Like terms, such as "Your" also apply to You;
These Terms apply to the use of the Online Services. They apply from the date You commence using the Online Services. These Terms shall continue to apply unless terminated by Us. By using the Online Services You will be deemed to have accepted these Terms. You should also read the Privacy Statement, which applies to the Online Services.
What Online Services are provided to You
We provide You with the following Online Services.
Access. You can access details and information regarding Your Scheme that specifically relate to You. Some (but not all) of these features are:
- Viewing the total amount of Your contributions and the contributions of Your employer to the Scheme;
- Obtaining a copy of the pension booklet that relates to Your Scheme;
- Finding out about the total value of Your Fund, the performance of Your Fund, the expected amounts that You will receive on retirement and the manner in which Your Fund is allocated;
- Allowing You to estimate the financial viability of You retiring, what You will get in retirement and looking at ways to increase this.
Amend. By use of the Online Services, You can update Your personal details that relate to Your membership of the Scheme, such as contact details and dependents.
Projections. In addition to the projections that You may receive as part of Your annual benefit statement, the Online Services contain a feature which will allow You to generate projections regarding Your Plan. These projections are based on a number of assumptions and are for illustration purposes only.
Allocate. The Online Services allows You to determine the investment strategy associated with Your Fund. You may allocate all of Your Fund into one particular class of investments or spread Your Fund over a range of investments. Please note the extent and range of the investments that You can make have been determined in advance, for Your benefit, by the Trustees.
Conditions Regarding the Services
The Online Services are provided with certain conditions which are set out below:
No warranty is provided by Us as to the accuracy of the information appearing on the Online Services or related to Your plan. We also do not warrant that the Online Services or information supplied is suitable for Your intended purpose. We advise that You take care in using the Online Services after having carefully considered the information and exercising caution.
The projections provided do not in any way consist of or represent a guarantee or a promise that Your pension will be paid at the rates shown. Several factors may influence the final pension You obtain - for example, Your individual circumstances may change, Your or Your Employer’s contribution may vary, or the costs of purchasing benefits on retirement may be altered. We recommend that You review Your projections regularly.
We will act on all instructions (whether to amend Your details, in relation to investment strategies or otherwise) as We receive them. As the Online Services are offered on the App and the Portal through the Internet, interruptions may occur. We can only act on instructions that We receive and will not be held liable for any failure howsoever caused, to receive an instruction. You should only consider an instruction as received and acted on, when the change has occurred on the relevant page of the App and the Portal in respect of Your Plan.
Investment strategy instructions may not occur simultaneously, as instructions must be passed to the manager of the particular investment. You will be notified, on the relevant page of the Online Services if Your attempt to change an investment strategy is not possible, due to the fact that a previous instruction is currently being activated and processed. If more than one investment change for future contributions is received on the Online Services before the date of receipt of Your contribution, We will process the most recent instruction.
Persons appointed by Your employer, or Your employer, may, with the use of the Employer ID, access the Online Services, to perform services on behalf of Your employer or the Trustees.
How Much do These Services Cost?
There is no cost to You to use the Online Services. The fees for the Online Services are paid with agreement between Your Trustees and Us.
Security and Confidentiality
To use the Online Services, You must use the Account Number and the PIN issued to You. This Security Information must be kept strictly confidential by You and We advise that You memorise Your Security Information. If you write it down please do so in a manner that is secure and is not obvious. You agree to notify Us if You lose, or misplace Your Security Information or if You suspect that any unauthorised use of Your Security Information may be about to happen or may have happened. If You lose, misplace or cannot recall Your Security Information, please contact Us at +353 (0) 1 632 6921.
We warrant that the Online Services will be provided with due skill, care and diligence. While every effort is made by Us regarding the content of the information relating to Your Scheme and appearing through the Online Services, We do not provide any warranty regarding the accuracy, correctness or completeness of such information. We exclude all other implied conditions and warranties to the extent that such exclusion is legally valid or permissible.
We cannot be held liable to You or any third parties and no liability is explicitly excluded:
- for any decision You make regarding Your investments or Your Scheme (You agree with Us that You are fully responsible for any investment or trading decision You make);
- in the event that You mislay, forget, or disclose Your Security Information;
- for Your refusal to follow Our instructions, those of Your employer or the Trustees, or the instructions on using the Online Services;
- for any negligence by You or anybody acting according to Your instructions or with Your permission;
- for any loss or damage caused by communications error, interruptions, a denial of service attack, any virus, logic bomb or harmful device, which is not caused by Our negligence; and/or
- for any negligence by any other person.
We collect and process personal information in the course of providing the Online Services. Please refer to the Privacy Notice for information on how we process personal information. Please ensure that the personal information you provide us in connection with the Online Services is accurate.
These Terms shall continue as long as You are a member of the Scheme and We continue to offer the Online Services to You unless terminated earlier by the Termination provisions set out below.
We may bring Terms to an end or suspend the Online Services where You are no longer a member of the Plan or Scheme, You become bankrupt, You breach these Terms or on 30 days written notice to You. In the event of termination or suspension You will no longer have access to Your information regarding the Scheme through the Online Services and Your Security Information will be deactivated. We shall make reasonable endeavours to ensure that any instructions You provided regarding Your membership of the Scheme prior to termination or suspension of the Online Services will be completed but we cannot guarantee that any instructions will be completed or executed.
Our understanding of Your investment objectives, is that You wish to make proper financial provision for Your retirement. You are restricted to the investment options selected by Your trustees.
The main business of Willis HC&B Ireland is the provision of pension services. Willis HC&B Ireland is a limited company with its registered address at Elm Park, Merrion Road, Dublin 4, having company registration number 403117. Willis HC&B Ireland’s VAT number is IE6423117I. Willis HC&B Ireland Limited, trading as Willis HC&B Ireland, is regulated by the Central Bank of Ireland. As You will be availing of the services immediately, no right of cancellation applies to this contract. The commercial purpose of these Terms is to provide to You information and other services related to Your membership of the Scheme. Willis HC&B Ireland can be contacted by email at firstname.lastname@example.org.
Amendment of Terms
These terms may be amended from time to time without notice to You and we strongly advise You to regularly review these terms.
Events Beyond Our Control
We cannot be held liable for any interruption or delay in receipt or transmission of any instruction of Yours by use of the Online Services. Nor shall We be responsible for any loss or damage or any failure or delay in performing the Online Services due to any event which is beyond Our reasonable control.
Willis HC&B Ireland is a member of the Investor Compensation Scheme established under the Investor Compensation Act 1998. The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances of compensation to certain clients (known as eligible investors) of authorised firms, as defined in that Act. Compensation may be payable where money or investment instruments owed or belonging to You and held, or in the case of investment instruments, administered or managed by Us, cannot be returned to You for the time being and there is no reasonable foreseeable opportunity of Us being able to do so. A right of compensation will arise if:
- You are an eligible investor as defined by the Investor Compensation Act, 1998;
- It transpires that We are not in a position to return to You money or investment instruments owed or belonging to You; and
- To the extent that Your loss is recognised for the purposes of the Investor Compensation Act 1998.
Where an entitlement to compensation is established, the compensation will be the lesser of: (a) 90% of the amount of Your loss which is recognised for the purposes of the Investor Compensation Act 1998 and (b) €20,000.
Conflicts of Interest
If it becomes apparent that We have a conflict of interest, our policy is to advise You of the nature of the conflict and to explain our procedures for dealing with it. We would then seek Your written consent before proceeding with the business in question.
All complaints must be addressed to Willis HC&B Ireland, Elm Park, Merrion Road, Dublin 4 or call +353 (0) 1 632 6921. We will acknowledge in writing a complaint within 5 business days of receipt. Unless further information is required, We will use our reasonable endeavours to ensure that all written complaints are dealt with within 2 weeks of receipt. Where an investigation is required, resolution of the complaint may take longer, but We will endeavour to update You regularly regarding the complaint, and at least every 20 business days. Within 5 business days of completion of an investigation we shall advise You of the outcome. Where You are not satisfied with the outcome of a complaint, You may appeal to the Managing Director of Willis HC&B Ireland, outlining your complaint in writing, and the reasons as to why You are not satisfied with the response received. Appeal decisions shall be provided to You within one month of receipt. If You are still not satisfied and it is appropriate in the circumstances of Your complaint, You may write to the Financial Services Ombudsman (3rd Floor, Lincoln House, Lincoln Place, Dublin 2) or the Pensions Ombudsman (36, Upper Mount Street, Dublin 2), as appropriate.
These terms are governed by the laws of Ireland and the courts of Ireland shall be the appropriate forum for any dispute between us. We shall communicate with you in the English language.
Willis HC&B Ireland Limited, is regulated by the Central Bank of Ireland.