Executive Pensions

5. Getting Advice

Setting up a pension scheme is a long-term commitment. Good advice is essential.

5.1 Information on setting up any form of company scheme can be obtained from:

• The National Association of Pension Funds (020 7808 1300).
• The Association of Pensioneer Trustees (0141 248 7007).
• The Society of Pension Consultants (020 7353 1688).

5.2 Take professional advice if you are taking out any form of pension scheme.

• Fee-based advisers (who charge a fee and rebate the commission they would earn) may offer better value on large investments. Your employer may be willing to pay for advice. Pensions advice to an annual value of up to £150 can now be offered as a tax-free benefit, provided it is made available to all employees.

5.3 HM Revenue & Customs can give you:

• Guidance on setting up a scheme.
• Help with obtaining approval, so that contributions qualify for tax relief.