Annuities
The annuity service provided by our partner firms is designed
to find you the highest Open Market Option for your specific
circumstances. The service applies to pension annuities
for people retiring from ages of 50 to 75 as well as purchased
life and immediate needs annuities for long term care
where individuals can be aged in their 90s.
Many people can also qualify for enhanced rates because
they are a smoker of suffer from diabetes. If you suffer
from a more serious illness it is very likely our partner
firm can find an impaired rate that is significantly higher
than the one offered by your existing provider. All the
rates quoted include their fee for processing your annuity
and ensuring the pension fund is transferred to the receiving
scheme and any tax free cash is paid as quickly as possible.
Income
drawdown
Where your pension fund is over £100,000 and you
do not want an annuity but do want the tax free lump sum,
our partner firms offer an advice service for other options
including income drawdown. This includes recommending
the type of pension to use, provider and funds in relation
to your attitude to investment risk and the income you
intend to draw from the pension.
Any ongoing advice provided by our partner firm can be
given on an annual basis to monitor fund performance if
required and on a triennial basis to reapply the GAD rates
to the income drawdown plan.
Pensions on divorce
The defined benefit (final salary) pension scheme valuation service provided by our partner actuary firm provides an online pensions Actuarial Report that costs only £25 (Excl VAT) per pension scheme valued. If the scheme is associated with the police, fire & rescue, armed forces and prison services pension schemes where an appropriate valuation of 3 times the CETV value is not uncommon, there is an off-line Uniformed Services Report that costs only £50 (Excl VAT) per pension scheme valued.
This is the same price paid by family solicitors, IFAs and other professionals that use this service to value pensions on divorce and the online service takes as little as ten minutes to complete from start to finish whereas the off-line service takes only 2 working days to return the report. Both use a unique Express Pension Valuation system which is a quick and cost effective means of determining the value of a defined benefit (final salary) pension scheme. To use this service it is not necessary to contact the pensionholder or their pension scheme. The end result is a comprehensive report signed off by an accredited actuary that you can print out and discuss the findings of the report with your solicitor.
Pension
transfer
Our partner firms provide a service for people that want
to transfer from their existing occupational pension scheme
(such as final salary or money purchase) or private pension
(such as retirement annuity or personal pension). The
reason for this is usually poor financial strength or
fund performance with ten or more years before retirement.
Our partner firms service will advice on the merits of
transferring and the potential benefits that could be
lost as well as recommend a suitable pension arrangement,
provider and funds in relation to your attitude to investment
risk and duration to retirement.
Director
SSAS
Our partner firms offer services to a SSAS is to assist
the trustees in maintaining the SSAS including compliance,
regulatory and funding requirements. In addition for the
directors of the SSAS to actively reviewed and ensure
it continues to meet the needs of the members retirement
objects. By charging an annual fee payable quarterly in
advance this service will be cost effective for SSAS schemes
where the assets are valued at £300,000 or above
with regular contributions of £30,000 per annum
or more.
In particular our partner firms can assist the directors
in taking advantage of using a SSAS for corporation tax
relief and pre-retirement planning to maximise tax free
cash. The regular ongoing advice for a SSAS will therefore
benefit both the sponsoring company and members of the
scheme.
Where an
enquiry relates to a regulated product or service,
sharingPensions.com will forward this
request to a Partner Authorised Firm carefully chosen,
reputable and trustworthy third party that is an Independent
Financial Adviser (IFA) authorised directly or an appointed
representative regulated by the FSA and qualified to satisfy
your enquiry and to give advice.
Group
pensions
Our partner firms provide a comprehensive service to group
money purchase schemes that are currently operating, or
advise on establishing and operation of a new scheme.Depending
on the contribution level the employees may benefit from
a group occupational money purchase scheme where benefits
can be taken predominantly as tax fee cash or a group
personal pension or stakeholder.
For individuals, our holistic retirement planning service
to these employees makes the company pension scheme personal
to them. By fixing their intended retirement date, ideal
proportion of current salary as an income, attitude to
investment risk, and expected other assets that can contribute
to retirement planning such as other pensions, capital
from property and inheritance, it is possible to determine
the shortfall (if any) and the extra amount required to
be invested to the company money purchase scheme.
It is possible for the company to operate a combination
of schemes to suit various groups of employees depending
on the likely annual contributions.
We can advise the company regarding the various pension
options given the type of business activity such as office
or manufacturing companies or the needs of the employees
such an workers and managerial.
Group
life
For group life insurance our partner firms service is
designed to source the whole market for the best rate
on an annual basis. This applied whether the scheme is
applying for group life insurance for the first time or
re-broking of existing cover.
Life cover is an important benefit for your employee's
family in the event of death and can be provided at a
relatively low cost as a fixed amount for each employee
or as a multiple of salary. The cover provided can be
guaranteed for one or two years, however, it is always
worth conducting a re-broking exercise each year as rates
may have become more competitive.
Group
permanent health insurance
For group permanent health insurance (PHI) our our
partner firms service is designed to source the
whole market for the best rate on an annual basis. This
applied whether the scheme is applying for group life
insurance for the first time or re-broking of existing
cover. PHI is an important benefit for your employee and
can be used as a benefit for all employees or select groups
of employees.
It provides an income to the employee and their family
in the event of illness and accident and reduces the company's
exposure to paying a salary to absent employees. The cover
provided can be guaranteed for one or two years, however,
it is always worth conducting a re-broking exercise each
year as rates may have become more competitive.
Employee
annuity
Our partner firms service is for the human resource manager,
finance director or pension trustee of a company money
purchase scheme. Rather than conduct your own research,
their free broking service is designed to find the most
competitive provider for each employee whether they qualify
for a standard, enhanced or impaired health annuity.
When your employee decides to proceed with the highest
quote, our partner firm will then manage the administration
between providers and ensure that the annuity is established
on the basis required by your employee. This process reduces
the cost to the employer and adds a valuable benefit for
the company's employees. The annuity provider pays their
remuneration and this cost is incorporated in the annuity
product.
resources
our
services
marriage breakdown
private
pensions
pensions in
retirement
employer
pensions
pension audit
index
/ glossary
Disclaimer:
Information found on this site does not amount to financial advice or
legal advice. Every time you access the website you agree to be bound
by the Terms and Conditions.
If you do not agree to be bound by them, you should not use the sharingpensions.co.uk
website. Before taking any action regarding pensions, pension on divorce
or any other financial or legal matter you should seek professional
advice.
