A certificate of membership is produced and sent to the company for distribution to participating members. This is an official confirmation of plan membership and it also confirms the investment choice upon joining.

Amounts paid by the company in respect of individual participants are determined by the company. These payments can be linked to a percentage of payroll, bonus payments or simply in accordance with the company's individual contract with the employee. Therefore, the company is able to take into account the member's location, occupation or category and/or length of service with the company. The contribution amounts can be regular or include ex-gratia payments and vary from month to month.

The employer determines whether member contributions are permitted under the plan and sets the limits as to what members are allowed to pay in. These amounts are deducted from the payroll and paid to Generali Worldwide at the agreed contribution frequency.

The employer decides whether or not to allow 'Transfer-Ins' from other plans. It should be noted that it is the member's responsibility to check that such a transfer is permitted by their local regulatory authorities.

The fund choices offered to members are determined by the employer and the split between the funds chosen can be set by the employer or can be left up to the member. The investment fund chosen for employer contributions can be set by the employer.

Contributions will buy units at the price ruling at the next valuation, following receipt of premium. At any given time the value of the liability due to the member will be equal to the number of units owned by that member, multiplied by the price of the fund ruling on that particular day, less any unvested amount or charges in accordance with the plan rules.

At a frequency agreed, Generali Worldwide will supply transaction statements and the employer will distribute them to each member, showing the movements on their account and a valuation statement.

Payment is made according to the plan rules as per the instructions provided by the member on a 'Discharge Form', validated by the employer. A leaver statement and final transaction statement is then sent as confirmation that the payment has been made.

In the event of death-in-service, the employer will be required to complete a 'Discharge Form on Death' document. This will confirm the beneficiary details, which were indicated on the member's beneficiary form provided to Human Resources upon joining the plan.

Should a member decide to leave their funds offshore when they move on to new employment or are retiring from employment, Generali Worldwide offers a continuation option (Momentum) specially designed for the international employee, which is available on favourable terms for existing plan members looking to transfer their funds. More information can be found under the Continuation Option section of this website.

Under current Guernsey tax law, payments are made without liability to Guernsey taxes. It is the individual member's responsibility to declare the payment of their benefits in their local country.

All the points above can be presented in a customised employee booklet to promote the plan and to help the employee understand the benefits offered and procedures to follow.