Pension Freedoms
14
@TheBusJourney #SMEJourney The Business Journey 16 February 2016
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Transcript of Pension Freedoms
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The Business Journey16 February 2016
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Business Journey Partners
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Sam Henderson
Pension FreedomsBuilding another Business
Control of your Money
Sam Henderson
Chartered Financial Planner
Pension FreedomsMuch More Flexibility:
Taking Benefits
Passing to Successors
Capital Gains Tax
COMPANY A
Income Tax
Corporation Tax
T A X
Company A
Company B
No Tax
No Tax Within
25% TFC
Pension
Marginal Rate
No IHT
Input How Much? (£40k pa) Carry forward last 3 years Only if qualifying pension
Investment choices: A) Insured pension - leave to adviser B) Platform - you choose shares/funds C) SIPP - commercial property/private shares D) SSAS – even more investment flexibility
Control
Age contributions are started £200 per month contribution
Fund value at age 65
£500 per month contribution
Fund value at age 65
25 £393,714.44 £984,286.10
35 £201,124.30 £502,810.60
45 £93,582.54 £233,956.36
55 £33,531.94 £83,829.86
Figures retrieved from https://www.unbiased.co.uk/cost-of-delayAssumptions below
Assumptions:
These figures are based on a Stakeholder Pension and assume a yearly growth rate of 7% with fund charges of 1% each year. Your pension plans may grow at a lower or higher rate than 7%.
We've assumed that your contributions are level and don't increase in line with inflation over the time that you save.
Tax rules can change. The value of an investment is not guaranteed and can go up as well as down depending on investment performance (and currency exchange rates where a fund invests overseas). You could get back less than you invested.
The value of an investment can fall as well as rise and you may get back less than you have invested.
The Financial Conduct Authority does not regulate taxation and trust advice. HM Revenue & Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
Sam Henderson07710 520 307
Henderson Stone & Co Ltd 0141 352 7800
www.hendersonstone.co.uk
Henderson Stone & Co Ltd is an appointed representative of Caerus Financial Limited, which is authorised and regulated by the Financial Conduct Authority. FCA Number 226516. Registered in Scotland SC291164.
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Sam Henderson Questions?
