Executive pensions are a tax efficient way of rewarding senior executives and, for business owners, extract value from the company. Despite the scope for pension contributions having been curtailed by successive governments, these remain an effective method of building up retirement provision independently of a business.
Many employers provide a comprehensive package of benefits to recruit and retain quality employees. Such benefits can include:
- Pension scheme
- Income protection
- Life assurance
- Critical illness cover
- Sickness and accident cover
- Private medical insurance
- Ancilliary benefits (eg nursery vouchers or gym membership)
- Flexible benefits
Depending on the complexity of the benefits package you wish to provide, a specialist employee benefits adviser can add value by managing the benefits programme and provide employee counselling.