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Home    Executive Pension Plan

Related Topics

  • Stakeholder
  • State Pension
  • Income Drawdown
  • Occupational Pensions / Auto Enrolment
  • Retirement Planning
  • Personal
  • SIPP
  • Annuities
  • SSAS
  • National Employment Savings Trust (NEST)

Executive Pension Plan

Director / Executive Pension Plan (EPP)

Executive Pension Plans (EPP) are tax-efficient savings plans set up by the company for key employees. The employer (and sometimes the employee) pays into the plan, to build a tax-efficient fund, which is used at retirement to provide tax free cash and a pension income. In effect, EPPs are money purchase occupational pension schemes and operate for the most part like any other pension scheme.

EPPs are normally established by company directors or other valued employees for their own benefit, though only the favoured can expect to be given the levels of investment that these schemes offer.

From an employer’s perspective, an EPP can form the core of a benefits package to attract, motivate and reward key executives, plus the financial benefits of contributions being allowable as a business expense and able to be set against taxable profits. Furthermore, there is no NIC liability and so extra pension contributions into an EPP can be made instead of salary increases.

The pension fund is set up under trust, with the trustees responsible for the trust’s day-to-day administration, such as ensuring contributions are paid regularly and benefits are paid out promptly.

For the individual, there is flexibility of retirement, allowing the person to retire early and hand over to others (although benefits can only be taken currently from age 55 (rising to 57 from 2028), unless a protected pension age exists which allows benefits to be taken earlier) or to work well past the company’s normal retirement date.

EXECUTIVE PENSION PLANS ARE REGULATED BY THE PENSIONS REGULATOR

A PENSION IS A LONG TERM INVESTMENT, THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND UPON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.

PENSION ENQUIRY FORM

Your Address

Planning and Retirement

Employment

Existing Pension

Yes
No
Yes
No

Marketing Information

Sensitive Personal Data

We may need to collect sensitive personal data including information about your health, ethnic origin, or criminal prosecutions from third parties such as employers and credit reference agencies, fraud prevention agencies and other similar organisations in order to provide you with the services, for example where you require advice on annuity or protection products.

If you consent to us obtaining your sensitive personal data from third parties referred to above for the purpose of providing you with the services, and sharing it with third party providers to obtain quotes on your behalf, for example where we are providing you with annuity or protection advice as part of our services, please tick this box.

Submit your Information

From time to time, we would like to contact you about our products and services which we think you might be interested in. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you.

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

Director / Executive Pension Plan (EPP)

Executive Pension Plans (EPP) are tax-efficient savings plans set up by the company for key employees. The employer (and sometimes the employee) pays into the plan, to build a tax-efficient fund, which is used at retirement to provide tax free cash and a pension income. In effect, EPPs are money purchase occupational pension schemes and operate for the most part like any other pension scheme.

EPPs are normally established by company directors or other valued employees for their own benefit, though only the favoured can expect to be given the levels of investment that these schemes offer.

From an employer’s perspective, an EPP can form the core of a benefits package to attract, motivate and reward key executives, plus the financial benefits of contributions being allowable as a business expense and able to be set against taxable profits. Furthermore, there is no NIC liability and so extra pension contributions into an EPP can be made instead of salary increases.

The pension fund is set up under trust, with the trustees responsible for the trust’s day-to-day administration, such as ensuring contributions are paid regularly and benefits are paid out promptly.

For the individual, there is flexibility of retirement, allowing the person to retire early and hand over to others (although benefits can only be taken currently from age 55 (rising to 57 from 2028), unless a protected pension age exists which allows benefits to be taken earlier) or to work well past the company’s normal retirement date.

EXECUTIVE PENSION PLANS ARE REGULATED BY THE PENSIONS REGULATOR

A PENSION IS A LONG TERM INVESTMENT, THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND UPON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.

PENSION ENQUIRY FORM

Your Address

Planning and Retirement

Employment

Existing Pension

Yes
No
Yes
No

Marketing Information

Sensitive Personal Data

We may need to collect sensitive personal data including information about your health, ethnic origin, or criminal prosecutions from third parties such as employers and credit reference agencies, fraud prevention agencies and other similar organisations in order to provide you with the services, for example where you require advice on annuity or protection products.

If you consent to us obtaining your sensitive personal data from third parties referred to above for the purpose of providing you with the services, and sharing it with third party providers to obtain quotes on your behalf, for example where we are providing you with annuity or protection advice as part of our services, please tick this box.

Submit your Information

From time to time, we would like to contact you about our products and services which we think you might be interested in. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you.

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

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Registered Office: Regency House, Mere Park, Dedmere Road, Marlow, Buckinghamshire. SL7 1FJ
Registered in: England

RBS Associates is authorised and regulated by the Financial Conduct Authority.

RBS Associates is entered on the Financial Services Register (www.fca.org.uk/register) under reference 457658.

The Financial Conduct Authority does not regulate all forms of the products or services we provide.

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