At McCarthy Insurance Group, we understand that you value your staff and want to do the right thing for them. We can help you to do this by ensuring that you have the right pension scheme in place for your employees.
No matter what size your business is, we will help you to set your employees up for the future with employee pension plans. Read more about what we can provide below and get in touch to see how we can help you!
Generally suitable for the self employed and employees, these are funds held in an individual’s own name. Both regular and once-off premiums can be paid to these plans and contributions qualify for tax relief which is claimed through an individual’s tax return at the end of each financial year. Employers can contribute to PRSAs but cannot pay into personal pensions.
Generally arranged for company directors and employees, these schemes are paid by employers with employee contributions made by salary deduction. As contributions are made by the employer, the tax relief is deducted at source.
These schemes are set up by employers on behalf of their employees, with employee contributions made through salary deduction, and contributions qualify for tax relief for both the employee and the employer.
Normally, either the employer acts as trustee on the scheme or an independent professional trustee is appointed to ensure that the scheme is run in line with the regulations and guidelines set down by the Pensions Board.
This is a pension plan into which you can transfer your pension benefits from a former employer’s company scheme, therefore removing the former employer’s connection with the pension. You would then have the freedom to choose the types of funds you wish to invest in and the provider that you would like to manage your funds.
You can talk to a member of our expert team Monday – Friday, 9am-5pm
