Mike Morrison Pensions Strategy Manager

986 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
986
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Mike Morrison Pensions Strategy Manager

  1. 1. Mike Morrison Pensions Strategy Manager
  2. 2. Interactive session <ul><li>Would not have used it anyway </li></ul><ul><li>No longer a viable option </li></ul><ul><li>May have some use in limited cases </li></ul><ul><li>A very useful financial planning tool </li></ul>In light of the changes to the tax regime for ASP in the last budget, how do you view ASP? prepare to vote 10
  3. 3. Interactive session <ul><li> Would not have used it anyway </li></ul><ul><li> No longer a viable option </li></ul><ul><li> May have some use in limited cases </li></ul><ul><li> A very useful financial planning tool </li></ul>In light of the changes to the tax regime for ASP in the last budget, how do you view ASP?
  4. 4. Agenda <ul><li>Budget announcements on ASP/Scheme Pension </li></ul><ul><li>Protecting pension funds following the budget </li></ul><ul><li>SIPP regulation </li></ul><ul><li>Other retirement issues </li></ul>
  5. 5. Budget 2007 <ul><li>Unauthorised payment </li></ul><ul><li>Consultation on Scheme Pensions </li></ul><ul><li>Protecting pension funds </li></ul>
  6. 6. Introducing the clients
  7. 7. Introducing the clients
  8. 8. Introducing the clients
  9. 9. Introducing the clients
  10. 10. Introducing the clients Pension fund = £750,000 Pension fund = £750,000 Pension fund = £750,000 Pension fund = £750,000
  11. 11. Retirement planning Source: Annuity Bureau. Annuity Income – gross annual income for man aged 65 with pension fund of £100k. Income payable with 3% p.a. increase, 50% partner pension, guaranteed period of 5 years. Gilt Yield is FT Actuaries Govt Sec UK 15 Year Gilt Yield. Source: FT
  12. 12. Retirement planning
  13. 13. Retirement planning
  14. 14. Retirement planning
  15. 15. Retirement planning
  16. 16. Retirement planning
  17. 17. Retirement planning
  18. 18. Retirement planning <ul><li>Unsecured Pension </li></ul>
  19. 19. Retirement planning
  20. 20. Retirement planning Tax charge - 18%
  21. 21. Retirement planning tax charge - 18%
  22. 22. Retirement planning <ul><li>Alternatively Secured Pension </li></ul>
  23. 23. Retirement planning <ul><li>Alternatively Secured Pension </li></ul>
  24. 24. Retirement planning <ul><li>Annuity purchase eventually </li></ul>Alternatively Secured Pension
  25. 25. Retirement planning <ul><li>Detailed financial planning </li></ul>Alternatively Secured Pension Annuity purchase eventually
  26. 26. Retirement planning <ul><li>3 rd party contributions </li></ul>Alternatively Secured Pension Annuity purchase eventually Detailed financial planning
  27. 27. Scheme pensions <ul><li>Consultation paper out in budget </li></ul><ul><li>Unfavourable tax treatment </li></ul><ul><li>Likely to be treated as ASP </li></ul>
  28. 28. Other retirement issues <ul><li>Discretionary bypass trust </li></ul><ul><li>Protected rights </li></ul><ul><li>Recycling </li></ul><ul><li>Inflation </li></ul>
  29. 29. SIPP Regulation <ul><li>From 6 April 2007 </li></ul><ul><li>Cost comparison easier </li></ul><ul><li>Some providers not yet regulated </li></ul><ul><li>Orphan SIPPs </li></ul>
  30. 30. SIPP Regulation
  31. 31. Other issues we could have talked about <ul><li>Pension Term Assurance </li></ul><ul><li>Employer contributions </li></ul><ul><li>Transfers </li></ul><ul><li>Protecting pre-A-Day tax free cash </li></ul><ul><li>Personal accounts </li></ul>
  32. 32. Other issues we could have talked about <ul><li>Pension Term Assurance </li></ul><ul><li>Employer contributions </li></ul><ul><li>Transfers </li></ul><ul><li>Protecting pre-A-Day tax free cash </li></ul><ul><li>Personal accounts </li></ul><ul><li>… look out for future workshops </li></ul>
  33. 33. Interactive session <ul><li>Would not have used it anyway </li></ul><ul><li>No longer a viable option </li></ul><ul><li>May have some use in limited cases </li></ul><ul><li>A very useful financial planning tool </li></ul>prepare to vote 10 In light of the changes to the tax regime for ASP in the last budget, how do you view ASP?
  34. 34. Interactive session <ul><li>In light of the changes to the tax regime for ASP in the last budget, how do you view ASP? </li></ul><ul><li> Would not have used it anyway </li></ul><ul><li> No longer a viable option </li></ul><ul><li> May have some use in limited cases </li></ul><ul><li> A very useful financial planning tool </li></ul>

×