The Retired Platinum membership category is our way of recognising and rewarding your valued participation in the Accounting profession.
If you are thinking about, or have already started your second job in your retirement years, you will still need to ensure that you are covered with Professional Indemnity (PI) insurance. For example, your second job may involve working as an experienced Consultant with an Accounting practice, for family and friends, or providing assistance to a community group. In this case, you may be at risk if you are not insured.
We require a member who provides any type of accounting advice or service to have PI insurance.
Also, you will need some level of PI insurance if you are earning less than $18,200 per annum from private, honorary Pro bono work for a charity, amateur or not-for-profit community organisations, or providing educational training and mentoring services to an accounting firm.
When you, as an individual, provide advice or related accounting services, the fact that a fee is charged or not charged for that service or advice does not change or reduce your liability in connection with that service or advice. You are liable for such advice/services and your own personal assets may be at risk should a claim be made against you for a financial loss as a result of such advice/service.
Due to the above circumstances we have arranged a "Limited Policy" available to retired members, allowing you to conitnue working part-time.
- Cover for up to $250,000
- Networking opportunities - facility to network with Practices in order to work for them on a part-time or casual basis.
- Tailored CPD sessions - access to tailored Continuing Professional Development sessions to keep you informed and updated on regulatory; changes in the profession.
- Member offers - receive discounts and special rates on a range of services and products.
- Professional recognition - recognition as a valued and experienced professional Accountant of the IPA.
The Retired Platinum insurance policy won't provide cover in the following cases.
- If you promote your business to the public.
- If you hold a public practice certificate or limited public practice certificate or are operating a public practice.
- For any work undertaken or involved with Public companies (listed or unlisted).
- For receivership, insolvency, and or reconstruction services.
- For business valuations, mergers or acquisitions.
- For financial planning or investment advice, including stockbroking/securities dealings.
- For run-off for any work done in a public practice or by a public practice.
- For forensic Accounting.
- For any breach of IPA By-Laws.
The Retired Platinum membership category fee is $335.00 (incl GST) and inclusive of the PI insurance premium.
If you wish to take up this offer, apply now.
If you have any questions on the Retired Platinum membership category, please contact your local division on 1800 625 625.