Executive Pension Plan

NordicNoir

I am helping my sister to go through her assorted pensions to check charges, options and possible consolidation.

She has a plan with Old Mutual Wealth, started in 1997, and no additional contributions have been added for 15 years. She had a limited company for while and the plan appears to be split between a personal pension and an executive pension. I presume that it was set up this way because employer payments could not be made to a personal pension?

Do these types of plan still exist for new business and what would be their benefit over a SIPP (which I understand can take employer contributions).

xylophone

http://www.financialadvice.net/executive_pension_plans_epp/zone/647

may be worth a read.

Your sister may wish to take advice tailored to her circumstances.

https://directory.moneyadviceservice.org.uk/en

NordicNoir

Thanks xylophone, I had read that link already and decided that we need to check further regarding the 2006 changes and the possibility of the higher tax free lump sum.

The adviser that is linked to her account has gone AWOL, so we are waiting to hear back from Old Mutual about the way forward.

I was intrigued whether these type of plans are still available, or that with the 2006 changes, they are now considered 'old hat' !