Executive Pension Plan Advisers

Navigating the complexities of Executive Pension Plans (EPPs) requires specialised knowledge. As your trusted EPP adviser, serving clients in Beverley, Hull, and the surrounding areas, we help you and your company make the most of these tax-efficient savings plans. Designed primarily for key employees and directors, EPPs offer a range of benefits, including tax-free cash and pension income at retirement. Our role is to guide you through the intricacies, from contributions to retirement options, ensuring that your EPP aligns with both your personal and business financial goals.

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. Additionally, there are financial benefits as contributions are allowable business expenses and can 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 from age of 57) or to work well past the company’s normal retirement date.

!

THE VALUE OF PENSIONS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.

Ready to maximise your retirement savings through an Executive Pension Plan? We serve clients in Beverley, Hull and the surrounding areas. Contact us today for expert retirement savings advice. 
 

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01482 427246
The Hive,
Minster House,
23 Flemingate, Beverley HU17 0NP.

mail@ashleyphillips.co.uk