Executive Pension / Master Trust Kildare, Ireland
An Executive Pension is a pension set up by employers for executives or key employees of the company.
A Company pension scheme is one of the most important employee benefits that an employee can provide.
An Executive Pension is a pension set up by employers for executives or key employees of the company.
The pension is set up under a trust. With an Executive Pension both employees and employers can make contributions.
The ultimate value of your pension plan will depend on the contributions you and your employer have made over the years, and the investment returns the funds have achieved in your Executive Pension.
Not only does an Executive Pension provide you with a long-term plan for your retirement, but it is also a tax-efficient way for you to set aside money for when you retire as well as a tax-efficient way for your employer to provide you with employee benefits.
In addition to employer contributions, you may also contribute up to 40% of your income (depending on your age) into your Executive Pension and claim tax relief
| Age-related percentage limit for tax relief on pension contributions | |
| Age | Percentage limit |
| Under 30 | 15 % |
| 30-39 | 20 % |
| 40-49 | 25 % |
| 50-54 | 30 % |
| 55-59 | 35 % |
| 60 or over | 40 % |
We can talk to you about your expectations for retirement and your personal circumstances. In understanding what you hope to achieve. We can offer you helpful advice in deciding if an Executive Pension is a suitable plan for you. Master Trust is simply a company pension scheme set up under trust.
RETIREMENT OPTIONS FOR EXECUTIVE PENSION AND MASTER TRUST
What options do I have when I retire? First, after you have taken any of the tax-free cash that you are allowed to draw, the balance of the money will be used to provide you with a pension.
This can be arranged by using the money to buy what is called an ‘annuity’ – or investing it in an ‘approved retirement fund’, or a mixture of both.
25% tax free lump sum and the balance in invested in an Approved Retirement Fund (ARF)
OPTION 2
25% Tax Free Lump Sum and the balance to an annuity
OPTION 3
1.5 times salary tax free lump sum and the balance to either an arf or an annuity
Gwen Clarke Financial Services Ltd’s team of experts offers a wide range of services, including investments, pensions, corporate pensions, mortgages, and life protection. We understand that each of our clients has unique financial needs, which is why we tailor our services to meet your specific requirements. Our goal is to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in your Executive Pension Master Trust and in securing your financial future!
Frequently Asked Questions about Executive Pension / Master Trust
What are my benefits of an executive pension?
Choice: There is a wide range of investment options.
Flexibility: You can increase contributions, or make a once-off contribution.
If I get sick can I take my benefits early?
No, you can’t touch your pension pot till you reach retirement age.
I would recommend that you put a serious illness policy in place which would pay out in the event if you were to be diagnosed sick then this would pay out. We can look at the different options that are available.
I would also recommend you look at putting an income protection policy in place in the event that you become sick during your working life this policy would kick in and would pay a portion of your salary.
What happens if I die before I draw my pension?
It depends on the type of sign that you have. In some cases, you can leave your pension pot to your spouse or to your estate.
Am I making the right decision on my investment choice?
Before you make an investment choice or decision I’ll go through each option that you have we will also carry out a risk assessment which will also determine if you are risk-averse and this will help you make your decision it’s important you know you you’re making the right decision for yourself and I want you to be able to understand that.