Retirement:
Executive pension schemes
An executive pension scheme is a particular form of money purchase occupational pension scheme, meaning it is a pension scheme arranged by an employer for their employees and the benefits at retirement depend on how much has been contributed to the scheme up to the retirement date. As all members of the scheme now need to be trustees to be able to loan money, Executive Pension Plans have become obsolete and, as such, few if any companies offer this contract for new schemes. Existing schemes now operate like Defined Contribution Schemes.
Where next?
Within Pensions provided by your employer…
- Defined benefit schemes
- Defined contribution schemes
- Group personal pension scheme
- Small Self Administered Scheme (SSAS)
- Funded Unapproved Retirement Benefit Schemes (FURBS) and Unfunded Unapproved Retirement Benefit Schemes (UURBS)
- Overview of pensions
- The state pension
- Pensions you arrange yourself
- Your pension questions answered
- Glossary of commonly used terms
- The new rules effective from April 2006
General…
