“The work that has been done has been delivered beyond expectations.”
“I found the trustee training really beneficial, highly recommended. I am not a trustee, I represent the employer and I think it will be valuable for me in future, having a better understanding of the trustees' perspective.”
“Excellent service - as expected and why PSGS was chosen.”
“Ian has added more value than we thought he would at the start… which shows it pays to go with someone who is doing the job of a professional trustee as their bread and butter.”
“We are extremely pleased with the appointment we made. The way Ian reacts to us and works with us is brilliant. We are very happy.”
“Ann and her team are very knowledgeable and proactive, liaise well with our other advisers and provide the Trustees with an invaluable secretarial service.”
The benefits of using the PSGS excepted life assurance master trust are clear:
A senior employee dies in active employment before drawing any pension benefits. They have:
With no lifetime allowance protection, the full DC pension savings of £750,000 and £480,000 lump sum death benefit are tested against the lifetime allowance. In the 2018/19 tax year, this means the lifetime allowance is exceeded by £200,000 and a 55% tax charge of £110,000 must be paid by the beneficiaries of the employee’s death benefits.
If the employee’s £480,000 death benefit had been insured under an excepted life trust:
As well the tax saving for an employee’s beneficiaries, the PSGS Excepted Life Master Trust also helps employers manage the risk of making improper decisions - in the same way as our - and ensure compliance to avoid being faced with periodic tax or exit tax charges.
To learn more about how the PSGS excepted life mastertrust could help you with providing death benefits to some of your most valuable employees, please contact us or download our service flyer: PSGS excepted life master trust