Financial Advisor Meath

About Executive Pensions

An Executive Pension Plan is designed to cater for the retirement income of Business Owners, Directors and Senior Employees of a company.

We have over 30 years experience in managing Executive Pension Plans for Business Owners

Financial Advisor Meath

Both Employer and Employee involved in an Executive Pension Plan benefit from the scheme, as it enables the Employer to provide a tax deductible top up benefit for a key Employee(s), while simultaneously availing of the tax relief available to the business.

In Ireland, many SME businesses are also family owned, with members of the owner’s family fulfilling key roles in the company. In this instance, an Executive Pension plan can enable the Business Owner to provide for the retirement income of their family members / key employees while also taking full advantage of the generous tax benefits afforded by the scheme.

Generous Tax Savings and Benefits

Savings for Business Owners include:
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HIGHLY TAX EFFICIENT CONTRIBUTIONS

A contribution to an Executive Pension is a highly tax efficient method of converting company money into a private asset.

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A TAX EFFICIENT METHOD OF INCREASING REMUNERATION

A contribution to an Executive Pension is a highly tax efficient method of increasing an employee’s remuneration, as well as helping to provide for their retirement.

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TAX DEDUCTIBLE CONTRIBUTIONS

Contributions by the company are fully tax deductible expenses.

Employees can also avail of generous tax breaks including:
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GENEROUS TAX RELIEF

Tax Relief on contributions the employee makes to the plan

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INVESTMENT GROWTH IS TAX FREE

Tax Free Growth on the investments

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OPTIONAL LUMP SUM

Tax Free Lump Sum can be drawn down on retirement

Executive Pension Guidelines

An Executive Pension is effectively a legal trust and must therefore fulfil certain legal conditions

• There are (generous) Revenue Approved Limits to be adhered to

• Employer must contribute to the scheme

• Employees are not obliged to contribute but often do so in order to boost their retirement funds and avail of further tax benefits

Legal Requirement and Revenue Rules

A number of aspects of Executive Pension Plans must be managed carefully, such as:

• Qualification of the Director / Key Employee
• Revenue Approval /Limits for Employer and Employee
• Legal requirements that must be met

This process can be simplified by allowing the experts to arrange your Executive Pension Plan

The Importance of Financial Planning
Financial Advisor Meath

Our Advice

At Lifetime Financial Planning we have over 30 years experience in managing Executive Pension Plans for Business Owners.

If you own a company and wish to set up a plan for yourself or your key employees, please feel free to contact us.

We can assist you in ensuring that the plan meets Revenue Rules and Regulations and also help you to navigate the various legal requirements with a minimum of fuss. We also provide expert advice on the type of funds we feel would suit you and your key employees.

With access to a range of different Executive Pension product providers we can provide you with a broad choice of options tailored to suit your needs.

We are also happy to conduct reviews of existing schemes and provide our expert analysis on how any improvements could be made in the plan.

Financial Advisor Meath