Employee Benefits

Pensions

Whether a pension scheme for directors or employees, John Eames Limited can guide you through the maze and advise on the action that should be taken.

A corporate pension scheme provides benefits in retirement through a flexible and tax efficient tool.  Such schemes include:-

• Group Stakeholder or Group Personal Pension Plans;
• SIPPs; 
• Executive Pension Plans;
• Small Self-administered schemes (SSAS).

The government is to introduce pension reform legislation, which is scheduled to start in October 2012. Our advice will take into account these proposed changes.

Death in Service Benefits

Death in service benefits normally take the form of an employer sponsored Group Life Assurance scheme.  They are usually designed to pay a lump sum and/or widow's/widower's/registered civil partner's pension on the death of an employee.

The following tax privileges apply to these schemes:-

• Employer contributions qualify for corporation tax relief;
• Contributions are not treated as an employee taxable benefit; 
• No additional employer or employee National Insurance;
• The lump sum on death will normally be free of inheritance tax. 

Group Income Protection

Group Income Protection is also known as Group Permanent Health Insurance.

Many employers will continue to pay employees after the onset of long-term sickness or incapacity.  However, in the current economic climate employers cannot afford the cost.

Group Income Protection is an insurance that is designed to provide employees with a continuing income in the event of incapacity arising out of an accident or illness. The benefit continues until the employee recovers, dies or reaches the agreed ceasing age of the policy, which is often normal retirement age.

The following tax privileges apply to these schemes:-

• Employer contributions qualify for corporation tax relief;
• Contributions are not treated as an employee taxable benefit; 
• No additional employer or employee National Insurance.

 We are also experienced in providing advice on the following:- 

• KEYMAN INSURANCE 
• DIRECTOR'S SHAREHOLDER PROTECTION COVER 
• PARTNERSHIP PROTECTION

For assistance with Employee Benefits please contact us.