INTERNATIONAL POOLING
International Pooling, also referred to as multinational pooling, is a way for international companies to manage their various employee group benefit plans worldwide through one single pool, thus reducing the costs of the company's international benefits programs and providing greater financial control. However, premiums and claims settlements are dealt with entirely at the local level. The international company and the network of participating insurers decide which benefits are to be included or excluded although most employer sponsored insurance benefits can be included in an International Pool such as:
- Medical Benefits
- Life Insurance
- Accidental Death and Dismemberment
- Long-term Disability
- Retirement Benefits
There are certain benefits that cannot be included in International Pools.
- Programs sponsored by the country
- Programs available through national security programs
- Programs that are part of national collective systems
- Programs that are more than 50% paid by the employee (outside of Canada)
International Pooling can provide a company that has significant operations in two or more countries with lower costs and improved benefits than would be available to them on an individual country by country basis.
Contact the Blevins Team for more information.
