Pension Planning for Business Owners and Directors

It’s most likely you are familiar with creating and developing business plans. Most successful business plans have many different dimensions for that business to develop successfully. The strategy for building the desired income in retirement is no different. Pension planning is something that all business personnel should carefully consider.

Part of the strategy should include taking advantage of the many tax benefits of company pension planning. These benefits include:

1. No Benefit in Kind on employer contributions


2. Corporation tax relief in the year the contribution is made


3. No PRSI payable on pension contributions


4. Tax effective retirement lump sums


5. No USC payable on pension contributions


6. Tax-free investment growth throughout (No Pension Levy in 2016)


7. Earnings cap for tax relief is not applicable to company contributions


8. Death benefits of up to 4 times salary plus annuity


9. Post-retirement flexibility and tax planning of the ARF option


10. Ability to backdate an AVC and retrieve tax

What’s your business plan for extracting the wealth from your company required to achieve the lifestyle you want for you and your family?

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