Director's Pensions
Director's and other senior management may want to look at alternative pension strategies for their pension funds to give them more flexibility and greater potential for growth.
There are a number of different types of scheme which can provide this and these include:
Self Invested Personal Pensions (SIPPs):
These schemes allow you to use your pension funds to invest in a very wide range of investments. This can range from shares to commercial property. A common use for a SIPP is to purchase a commercial property with your pension funds and let it to your company. This provides you with a tax efficient way to own your commercial property and provides secure tenents. SIPPs are usually more suitable for people with larger pension funds in order to make them cost effective.
Personal Pensions through Wrap Accounts:
For most people, using a SIPP is not the most suitable option for saving for retirement unless you want to own a commercial property or other physical property allowable under a SIPP. Personal pensions through wrap providers can give you access to direct equities, unit trusts, OEICs, and offshore funds allowing you a very large amount of flexibility in a more cost effective manner than using a SIPP. Wrap accounts will also allow you to hold other investments under the same umbrella. This can include ISAs and share portfolios
Other Personal Pensions and Stakeholder Pensions:
If you do not require the flexibility that the above schemes provide, you may find that using a standard personal pension or stakeholder pension may be more cost effective for you, especially if you have not yet built up a pension fund.
At Kilkee Financial Services we are able to help you plan for your retirement and provide independent advice about the most suitable vehicle for doing this.
