PROFESSIONAL BOXERS' AFFILIATION PENSION SCHEME (PBAPS)
Financial security is extremely important to professional boxers, who will find their earnings will inevitably fluctuate throughout the year. With the help of Cartlidge Morland, we hope to establish a pension scheme for our members, making sure they get something back from the sport they dedicate their lives to.
HOW DOES IT WORK?
The Professional Boxers' Affiliation Pension Scheme (PBAPS) will provide financial security for professional boxers in retirement, in a sport that has so much uncertainty, this scheme will help many boxers have a secure and stable future. The PBAPS will act as a trust scheme, governed by a board of trustees who will be boxers, active and retired, as well as representatives of the sport. The scheme will be funded directly by the funding the PBA receives from broadcasting revenue.
Acting as the 'pool' of money, the PBAPS will then delegate money into the boxer's individual personal pension plans (PPPs), where their contribution will be based on how many scheduled rounds they have competed in (e.g. if you have completed a 12 round fight in 4 rounds, your pension contribution will equal to 12 rounds). The pension contribution will differ based on how many scheduled rounds that boxer has written down for them, so a 6 round scheduled fight will be half the contribution of a 12 round scheduled fight.
Acting of the advice of our pension consultants, Cartlidge Mortland, they will decide what PPPs will best suit the boxers, and inform the board of trustees.