Company Pension Planning
The Background
- Retail business owners – couple age c40 yrs
The Issues
- Successful retail business – ltd co – husband & wife team – early 40s
- Funding company pension for 8 years so out of early encashment penalty regime
- Old pension product costly and uncompetitive
- Funds growing and conscious of counterparty risk
The Solutions
- Re-broked pension in market
- Full risk profiling carried out
- Split funds between 3 different providers
- Funds diversified in asset allocation model
- Achieved better management charges on funds
- Initial uplift of c3% achieved for client on restructure (circa€18-20k benefit in fund value)
- Back into early encashment penalties for next 5/6 years but not a problem due to age profile