The PIE option is valid until 5pm on December 8th, 2021.

If you are interested in the PIE option, you will need to register your interest by returning the Expression of Interest form either by e-mail to ie.mondelez.pie@willistowerswatson.com or by post to: Cadbury PIE, Willis Towers Watson Life and Pensions Limited, Elm Park , Merrion Road, Dublin 4, D04 P231 or by clicking here.

You should express your interest as soon as possible, but not later than October 21st. A meeting will then be scheduled with a financial advisor. You will receive an Acceptance Form after your financial advice meeting.

If you decide to accept the offer, you will need to complete and return the Acceptance Form at the latest, by 5pm on December 8th.

Some State benefits, such as the Medical Card, are means-tested and should you take the option to exchange your pension increases for a higher pension, your entitlement to these means-tested benefits may be affected.

If you are in receipt of such benefits, you should raise this during your financial advice meeting so that the financial advisor can explain the impact.

Under the Nursing Homes Support Scheme (“Fair Deal”) a percentage of your income and assets can be contributed towards nursing home care which may otherwise be prohibitively expensive.

The contribution from an individual towards the cost of care will depend on their level of income and the value of their assets. If you require care at some point in the future and elect to take the PIE option, then your contribution to the cost of care under this scheme would be based on your increased pension.

This contribution may be higher or lower than that had you not accepted the option, depending on the age at which you enter care. The concept of “cross-over age” set out in this guide and in your Personal Statement may help you to consider this further. Further information on the Fair Deal Scheme be found at: www.hse.ie/eng/services/list/4/olderpeople/nhss

If financial, economic or legislative circumstances change significantly, the Company reserves the right, as a matter of ordinary business prudence, to withdraw this offer before any amendment is made to your pension.

This exercise will have no impact on your Contributory State Pension under the current rules. Further information on the State pension can be found at: www.welfare.ie

If you have a means-tested state benefit, this may be affected, and you should raise this at your financial advice meeting.

If you accept the PIE option and die before 1st January 2022, the option will still take effect and apply to your benefits and to any benefits payable to your spouse or eligible dependant.

This guide and the Personal Letter and Statement you received provide detailed information in relation to the PIE option. You may also access the pages on this website to learn more about the PIE.

If you have a general question in relation to the PIE throughout the offer period, you can contact the Pensions Team in Coolock.

The Company has engaged an impartial financial advisor Willis Towers Watson Life & Pensions to provide you with advice in relation to the PIE, at no cost to you. It is essential that you fully understand the potential consequences of the PIE option prior to accepting the offer. For this reason, members will be required to take financial advice before they can avail of the PIE option.

No. Speaking to the financial advisor does not oblige you to take up the option.

No. It is entirely your decision whether you decide to accept the PIE. You may still decide to retain your current increasing pension even if the financial advisor recommends that you accept the PIE.

Similarly, you may decide to accept the PIE even if the financial advisor recommends that you reject.

You may also take advice from your own financial advisor if you wish, but this will be at your own expense. If you do use your own financial advisor, you should check whether your financial advisor is a pension specialist and is fully qualified to deliver the advice you require.

Yes, this will be facilitated. Due to restrictions in place as a result of Covid-19, it is likely that the financial advice meeting will need to be conducted by phone or video call.

Yes, members may bring their spouse to their individual meeting.

If you are a resident outside the Republic of Ireland, Willis Towers Watson Life & Pensions are unable to provide you with a recommendation, but they can meet with you to explain the option and provide guidance.

Pensions are taxed as earned income. To the extent there is an immediate increase in your pension, there will be an immediate increase in your income and so you may pay more tax. The financial advisor can talk you through any specific tax implications, but, in broad terms, you are likely to pay a higher rate of tax if your higher pension income moves you into a higher income tax band.

For members with very large pension amounts, you may pay additional tax if the increase brings you above the Standard Fund Threshold (SFT). The financial advisor can advise on this once they receive details of all of your pension benefits. We expect that there will be very few members impacted by the SFT.

The Company currently has no plans to make the option available again to current pensioners. The Company is considering introducing a similar option for members when they retire.

If you do nothing, your pension will be payable on the same terms as it currently and this option will no longer be available to you.

The offer provides for a 14 day ‘cooling off’ period from the date you accept the offer, during which time you can change your mind. You may not change your mind after this period has elapsed.

The PIE option described in this guide is being offered by the Company. The Company has discussed the option with the Trustee. The Trustee has reviewed the option and is satisfied that it is appropriate to offer the option to members. The Trustee cannot comment on whether the option is right for you.

A full actuarial review of the Scheme was completed as at 31 December 2020 and the Company is currently paying the contributions recommended following that review. As at the valuation date, there was a surplus on the Trustee funding basis. The Trustee has powers to require additional funding if a deficit emerges in the future.

Further information on the position of the Scheme can be obtained from the most recent Trustee Annual Report which members can request a copy of at any time.