Additional Voluntary Life Assurance
The UCC Supplementary Life Assurance (“SLA”) Scheme is designed to give employees the opportunity to make financial provision against the possibility of premature death while employed with UCC. The objective of the plan is to provide an additional lump sum for the benefit of the staff members dependents and/or estate in the event of death while in the service of UCC.
With effect from 1st January 2021 the premium rate will reduce from 0.33% of salary to 0.26% of salary.
Both rates (ICP and SLA) will be guaranteed until 31st December 2023.
In addition to the reduction in premium rates, the benefit ceasing age for the Insured benefits on both plans will be extended from age 65 to age 66.
From July 2018, all staff are auto enroled into the Voluntary Life Scheme with premiums deducted from 1st January 2019. The Scheme remains voluntary and staff can opt out at any time by completing the Opt Out Form available from the link below and submitting it to Ms. Kathy O'Connell, Dept of Human Resources, Ground Floor, Block E, Food Science Building, UCC.
For further information, please contact Kathy O'Connell on ext 2674 or K.OConnell@ucc.ie