Midlands: Financial Planning for Company Directors

Midlands: Financial Planning for Company Directors

Four Directors of a PLC approached us as the Company Final Salary Scheme was about to go over to the Financial Assistance Scheme (FAS) as there were insufficient monies in the Scheme to maintain benefits.

We therefore compared the options of each of the Directors, with the benefits they could accrue with the Scheme as opposed to transferring those benefits into their own Self Invested Personal Pension Plan (SIPP).

In each case, it was agreed that they would be better off transferring the monies into their own SIPP with the monies therefore invested under the ASPL Wrap, using our Investment Process.

These transfers took place and the Directors now have their own SIPPs from which two of them are drawing an income and the other two do not need to use this capital for income purposes, and are therefore retaining the benefits untouched, as in the event of death they will be outside of their estate for inheritance tax purposes and this is therefore building up as an inheritance tax free arrangement.

This therefore gave each of the Directors control of their pension arrangements and the ability to draw on them as and when their overall financial situation required it.

NB. Whilst the Client names have been changed for Client privacy purposes, these case studies are actual ASPL Client case studies.

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...constant monitoring of a very volatile investment world. Mr H - Wales

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Adrian Smith

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