An Executive Pension Plan is a retirement plan specifically for Company Directors. Unlike PAYE employees, Company Directors have control over their own benefits and so, must take matters into their own hands when planning for their own retirement.
When structured correctly, Executive Pensions are one of the most tax-efficient ways of moving company funds into personal wealth. Tax relief is available on contributions at the outset, funds are then allowed to grow tax-free throughout the life of the pension, and on retirement you can take a sizeable portion of the fund tax-free as a lump sum. There are then a number of options regarding the balance of the fund but in most scenarios it is taken as a regular income, which again, if structured correctly can be taken tax-free if within certain limits.
We will explain, in detail, the full range of options that are available to you and your business.
I would like to commend David Kinsella from Kinsella Financial for the outstanding customer service that my associate received from him in purchasing a house.
Ciaran Darcy on Behalf of Mortgage Client - May 2019