Call Us Now
01923 842 282
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.
I want to take this opportunity to thank you profusely for all your work, time and support in steering me through this process. I have felt very confident that I was in good hands from the outset and appreciated your patience and proactivity in seeking out an alternative provider when the original lender turned me down.
We are completed impressed with the professionalism of Capital Financial Services and their outstanding service.
Colin & Chrissy were extremely helpful in assisting us in arranging our first mortgage. As daunted first time buyers who knew nothing about the process, it made things much easier having them there along the way to answer questions, arrange everything we needed and deal with much of the paperwork on our behalf. They always got back to us promptly and took the time to explain what we needed to do and why. They made the process so much easier for us, so many thanks to them both! We wouldn't hesitate to recommend their services.
Colin and the team at CFS arranged our mortgage and life cover. They did an excellent job of talking us through the different options available and explained everything thoroughly, so we fully understood our obligations before proceeding. They were courteous and helpful at all times and we will definitely use them again.
We didn’t fully understand the implications of Inheritance tax, which Colin explained to our family in an easy to understand manner. As a result, we are now secure in the knowledge that the family estate is protected.
After the birth of our first child, we decided to review our finances and contacted Capital Finances Services for independent advice. They were brilliant in advising us on what our priorities should be. It really put everything into perspective and has made us much more aware of our finances. We started with protection plans for our family and are about to make some ISA investments. The fact that the advice was independent really made a difference as the options are much greater and we are comfortable that we have the right plans in place for our needs.
Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules ...
Read moreWhen someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments ...
Read moreA mortgage is a ‘secured’ loan, which means that the loan is secured against the value of the property being purchased until the mortgage is paid off. ...
Read moreThe main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. ...
Read moreProfessional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you ...
Read moreIf you're over the age of 55, equity release offers you a way to use the value of your home to raise money. There is a range of equity release schemes available on the market offered by ...
Read moreA great many considerations need to be given to the growing need for providing Long Term Care to the elderly. In the United Kingdom we are set for an explosion in the number of the population ...
Read moreWhen you die, it is likely that you would wish to leave as much as possible for your loved ones. Unfortunately this is often not as simple as you might believe. ...
Read moreCONTACT US
Capital Financial Services
Argyle House
Third Floor, Suite 3K
Joel Street
Northwood Hills
Middlesex
HA6 1NW
T: 01923 842 282
F: 01923 840882
Email Us
Principal: Colin Baldock
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS BASED IN THE UK.
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. CAPITAL FINANCIAL SERVICES IS ENTERED ON THE FCA REGISTER (WWW.REGISTER.FCA.ORG.UK) UNDER REFERENCE 977595.
Further information about the Financial Ombudsman Service (FOS) is available from their website www.financial-ombudsman.org.uk
© Copyright 2024 - Adviser Pro - All Rights Reserved
Design and Developed by Adviser Pro © 2024