Income protection calculations.

[TeslaTim]

A family member just claimed income protection through there employment a pharma multinational .
It is 66% of basic less illness benefit.
Pension contributions is to continue to be paid.
Question 1.
Is the pension contributions taking from the 66% or plus the 66% normally ?

2.
Is it linked to her salary for example if that increases by say 3% should the 66% increase by 3% too.or should it be indexed linked.

3.
Is it possible to get a statement direct from the insurance company even if the payment is paid through payroll.

 

[Bluefin]

A family member just claimed income protection through there employment a pharma multinational .
It is 66% of basic less illness benefit.
Pension contributions is to continue to be paid.
Question 1.
Is the pension contributions taking from the 66% or plus the 66% normally ?

2.
Is it linked to her salary for example if that increases by say 3% should the 66% increase by 3% too.or should it be indexed linked.

3.
Is it possible to get a statement direct from the insurance company even if the payment is paid through payroll.

1. Pension contributions is separate to income payment

2. No. Even if her salary was to increase over time (if she returned part time) her income protection benefit would be fixed to the date of her first claim . Her income payment will be linked to inflation up to max 4%..

3. Yes.. Payroll should be able to get that