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Everyone needs to plan for their future. Life expectancy is rising and people retiring today can expect to live well into their 80s. So, after you finish working you could spend up to 30 years or more in retirement and that’s a very long time if you’re no longer earning money. This is why it’s so important to plan ahead and ensure you have enough money to support a comfortable lifestyle during your retirement..
Executive Pensions
An Executive Pension is a pension plan that is specially designed for Company Directors and Owners, typically those with at least a 5% shareholding in the company. Executive Pensions are set up by the company who then usually make contributions to the plan.
Attractive tax reliefs for companies and individualsExecutive Pensions offer a full range of very attractive retirement benefits and tax reliefs:
Any contributions made by the company can be fully offset against corporation tax and do not attract personal income tax as a Benefit-in-Kind.
Any contributions you make to an Executive Pension are subject to tax relief at your marginal rate, up to a generous maximum limit.
A company can also offer a full Group Pension to other employees, subject to different retirement and tax benefits.
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest
PRSA’s
You enjoy tax relief on the contributions you make
The growth of your investment is tax free
You can take a tax-free lump sum upon retirement
Subject to conditions, a PRSA can also be used alongside a company pension to make Additional Voluntary Contributions
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates. Warning: If you invest in this product you may lose some or all of the money you invest.
Pension Transfer Bond
When people move from job to job many of them leave their pension behind them in their old company’s group pension scheme. Keeping track of different company pension schemes can be hard, and you might have very little say in how a scheme is managed once you have moved to new employment.
A Pension Transfer Bond (or Buy out Bond) is a personal pension bond into which you can place the pension fund you built up with former employers. The advantages of moving your fund to a Pension Transfer Bond is that you can keep a closer eye on how it is doing and decide for yourself where and how it is invested.
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.
Group Pensions
A Group Pensions or Occupational Pension Scheme is a savings account set up by a company designed to accept contributions from both the employee and employer. These contributions, then grow into a lump sum (pension fund) that will provide employees with pension benefits on retirement.
All employers are legally obliged to provide employees with access to some form of pension provision. A Group Pension is an efficient way of doing this, providing excellent benefits to both employer and employee alike.
Group Pensions offers the following key benefits:
A Defined Contribution Pension Scheme where employer and employee agree on the amount that is put into the scheme
Allows Additional Voluntary Contributions as well as transfers from other schemes
Provides a Tailored Default Investment Strategy for the scheme
If you are self-employed, or don’t have access to a Group Pension scheme, find out more about our Personal Pensions.
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.ose some or all of the money you invest.
Post-Retirement Options
These days, the average person retiring at age 65 can expect to live for at least another 20 years or more. Making the most of these retirement years involves careful financial planning.
The first part of this is choosing the right pension plan. The second part is choosing the right post-retirement options for your needs, including the following:
Approved Retirement Funds (ARF)
An ARF allows you to invest some or all of your maturing retirement fund into one or more of our funds. With an ARF you get to invest in funds which fit your investor profile and you get access to your capital.
Approved Minimum Retirement Fund (AMRF)
An AMRF is similar to an ARF but has some compulsory requirements that are intended to safeguard a portion of your retirement fund. These requirements are removed on your 75th birthday when your AMRF automatically becomes an ARF.
Annuities.
Before the introduction of ARFs and AMRFs, the traditional option upon retirement was to take a tax-free lump sum from your retirement fund and purchase an Annuity with the balance. The Annuity guaranteed you a regular pension income for the rest of your life.
Comprehensive post-retirement options offering both ARF and AMRF options
Choose from over 400 investment funds
Flexible, tailored plan to suit different types of investors
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.