An EPP is a tax-efficient savings scheme designed especially for Directors, Senior Executives and people who have their own businesses.
EPP’s allow payments from an employer to be paid into a pension fund that is set up under trust. Trustees must be appointed to run them, and they’re responsible for day-to-day administration, such as ensuring contributions are paid regularly and benefits are paid out promptly. The individual employee can also pay additional contributions if they wish.
An EPP has the following advantages:
• It allows you to be flexible in when and how you retire.
• It can form the core of benefits package to attract, motivate and reward key employees.
SSAS’s are private pension schemes that operate as private, self-administered trusts.
A SSAS's main advantage over more conventional types of pension arrangement is that the Directors (the trustees) take control of the scheme's assets at all times, in contrast to normal pension arrangements where a scheme’s assets are held and controlled by an insurance company. Furthermore, the trustees of the SSAS have a wide range of investment options that allow the funds to be invested in company shares, gilts and bonds, bank and building society deposit accounts, commercial property, and so on.
For more information, please do not hesitate to contact us.