EXECTUIVE PLANNING

The changes to pension legislation at 6 April 2006 have put the benefits for executives under the microscope. New limits on pensions and the potential tax penalties for over funding pension benefits bring the need for executive planning.

Executive planning covers:

1. Pension benefits

1. Remuneration packages

1. Type of pension scheme

1. Investment choices and possible control

1. Greater flexibility on when benefits are taken and how

1. Specialist advice regarding taxation, investment and benefits

1. Employers need to reconsider their benefits package for their executives

1. If executives breach or may reach the new funding limit for pensions, they need specialist advice to mitigate their potential tax liability. This could also lead to them wishing to renegotiate their benefits package

1. As an employer have you considered offering a different type of pension scheme for senior executives? This may be an occupational pension scheme or it could be a contract based scheme which allows the individual to control the pension plan and the investment strategy. It will also afford the executive greater flexibility in how and when they take their pension benefits

1. If an executive has a pension funding issue, as an employer will you or do you need to review the benefits package so that it meets the need of the executive but, still within budget.
   

Regent can help you with issues on executive planning.