Specialist pension planning for business
Corporate pension solutions.
Running a pension scheme can be demanding for any business or organisation. Nelson Life are uniquely positioned to help organisations of all sizes meet their pension objectives.
Occupational pensions are now an integral part of an employees longer term financial health.
Our solutions are provided by the largest, strongest and most innovative global providers.
Executive Pensions.
Pensions are an essential part of your financial plans, both the tax relief and the long-term nature of a pension makes it one of the best retirement planning and wealth extraction tools available for business owners today.
Retirement planning is one of the biggest investment decisions you will make.
It is important that you choose a plan that fits your needs. At Nelson Life one of our key areas is longer-term retirement planning.
It is vital to base such a long-term plan upon up to date advice, accurate technical insight and with an advisor that has access to the broadest rage of options. For example, right now we have access to 11 different product providers for pension products.
The following are some of the benefits of retirement planning through your company:
Contributions made by the company to the plan can normally be fully offset against Corporation Tax
No benefit in kind (BIK) implications
Under current legislation, any growth earned by your pension fund is tax free
Tax free cash at retirement, subject to Revenue limits
….more benefits of retirement planning through your company:
Possibility of early retirement from age 50 – you will need to surrender shareholding and sever all links with the business
The company can usually make much higher contributions to a pension plan than an individual in their own right - subject to Revenue maximum funding limits
Employee contributions are tax deductible by up to 40%* of salary depending on age and subject to an earnings cap, currently EUR 115,000
* It is important to note that tax relief is not automatically granted; you must apply to and satisfy Revenue requirements. Revenue terms and conditions apply.
Contribution Options
The flexibility at the outset to choose the amount you and your company contribute
Life Cover Benefit
Life Cover can provide your family with a lump sum payment in the event of death before retirement.
An Executive Pension Term Assurance plan is a tax efficient way of providing this cover (Revenue limits apply).
Investment Options
Which allows you to tailor your investments to suit your individual attitude to risk.
Retirement Options - that suit your circumstances
When you retire, there is flexibility as to how the benefits can be taken.
This will depend on rules that are in place at the time you take your retirement. Your options may include:
• A tax free lump sum
• A taxable lump sum
• An income (pension) for your lifetime
• An income (pension) for your dependants on your death in retirement
• Investing in an Approved Retirement Fund (ARF) and/or Approved Minimum Retirement Fund (AMRF).
Executive Pensions for key employees.
Pensions are an essential part of your financial plans, both the tax relief and the long-term nature of a pension makes it one of the best retirement planning and wealth extraction tools available for business owners today.
Most businesses are created around a few vital individuals whose technical knowledge or experience make them a very valuable asset to the firm.
An Executive Pension is an excellent way to reward a key member of your staff and to encourage them to consider a long term future with your company. It can also be useful in attracting new staff as employee benefits are becoming increasingly more important in attracting and retaining the best people.
An Executive Pension is an ideal way to provide retirement benefits for your key employees. It’s a tax efficient savings plan that builds up a fund, which allows acompany to provide retirement benefits for its key employees.
An Executive Pension is flexible and can be designed to suit your own particular requirements including:
Contribution flexibility.
The level of company contributions can be decided by you – subject to Revenue limits.
Life insurance.
Life cover can also be provided through Pension Term Assurance or through a group death in service scheme.
Non-contributory.
The Plan can be non-contributory or you can arrange for part of the contributions to be paid by the employee.
Investment fund options.
Choose from default investment funds and lifestyle investment funds from the strongest global providers.
AVCs.
The employee can then pay Additional Voluntary Contributions (AVCs) to provide additional benefits for themselves.
Innovative technology.
Nelson Life have access to market leading and innovate technology to keep you and your employees informed.
Economies of scale and more efficient options - where you have a large number of key employees you may wish to consider the benefits of setting up a group pension scheme rather than a number of Executive Pensions. We can talk you through the benefits of each approach and help you determine which option is the right fit for your business.
Research has proven that those that engage with a professional advisor at least once a year are more financially confident.
More savings and investments
More likely to have a retirement plan
More financially protected in the event of illness, accident, diagnosis of a specified illness or even death
More secure and confident about their future