Pensions

Defined Benefit Pensions - DB pensions were employer sponsored pensions that we based on earnings and length of service. Usually these schemes were designed that you got a deferred 1/60th of your final salary for each year that you worked at the company. Why are clients taking advice on DB pensions: Investment Flexibility, Lifetime allowance tax planning, Succession Planning , Currency Control, Generous transfer values being offered by schemes
Defined Contribution Pensions - DC pensions are usually employer pension schemes but can also be privately held pensions. Why are clients taking advice on DC pensions: Investment Flexibility, Lifetime allowance tax planning, Succession Planning, Currency Control, Consolidation
Self Invested Personal Pensions - Similar scheme particulars to defined contribution scheme a SIPP allows individuals wider and more flexible investment choice
Qualifiying Recognised Overseas Pensions Schemes (QROPS) - A qualifying recognised overseas pension scheme (QROPS) is a pension scheme based in another country. Why are clients taking advice on QROPS: Lifetime allowance: Once inside a ROPs non-UK resident individuals are protected from further lifetime allowance tests, Succession Planning: Often individuals will use a ROPS to plan for death as UK pensions take a charge on death after age 75. Investment Flexibility, Currency Control, Consolidation