Retirement planning
Small self-administered pension schemes
Company directors' pension arrangements should take account of the advantages of executive schemes. In times of trouble, or opportunity, they can provide an additional bank account.
Not only can pension funds be used for commercial property purchase, but they are also permitted to make loans to companies, within certain limits.
It need not be necessary for the company to make excessive premium payments, as a main objective would be to have such schemes running in the background, available in case of need.
That said, it should not be overlooked that, despite the tax and other financial advantages, the main purpose of setting up pension arrangements is to provide for members' retirement.
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