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Company Pensions

I am a Company Director

Company directors can fund for their retirement through Executive Pension plans or Self-Administered schemes. These schemes provide a tax-efficient environment in which a company’s profits can be invested to provide retirement benefits for directors. As the fund grows it can work for the member and still be free from creditors should the company go into liquidation.

This gives company directors the opportunity to maximise their pension funds prior to retirement by giving them control over their investments.

 

I am an employee

If you are an employee of a company you may be able to join the company pension scheme.

If your employer does not have a pension scheme, or you are not eligible to join their scheme, you can set up a Personal Retirement Savings Account (PRSA) which is an individual policy in your own name. Contributions can be made through your payroll and tax relief applied at source.

 

I am leaving employment

Your pension options on leaving employment will depend on whether you are a member of a Defined Benefit or Defined Contribution scheme or if you have been contributing to a PRSA scheme.

You may have the option to:

  • allow your benefits to accumulate where they are,
  • to transfer them to your new employers scheme, or
  • to transfer these to a PRSA or a Personal Retirement Bond (PRB). A PRB is a ring fenced fund which gives you full control over your pension policy and allows you to decide on the investment profile going forward.

The decision on what to do with your pension will depend on your own individual circumstances and we can help you make the right choice.

 

Previous pension policies

You may have pension benefits held in a previous employer’s pension scheme, personal pensions or PRSAs that you took out a number of years ago. You may also have had pension policies from employment overseas or in the UK.

It is  important to review these policies and look at what options may be available now.  Some older policies may have higher charging structures and unsuitable fund choices so we can help advise you on the best options available to you.