The HFM team recently had the pleasure of having a Technical Update session provided by Clive Slattery, Pensions Technical Advisor. This workshop highlighted a number of valuable pension topical issues we wish to bring to your attention:

Defined Benefit Schemes The number of active fully funded schemes continues to decrease and most are closed for new numbers. Clients with deferred benefits from a defined benefit scheme should consider whether or not to seek a transfer.
Auto Enrollment The Government is committed to introducing a compulsory scheme for all employees. Clients who already have a pension scheme will not be impacted. Employers who don’t have a scheme at the moment need to consider the pros and cons of participating in auto enrolment as compared to setting up a scheme under the current rules.
What happens to your pension fund if you die pre-retirement? In most cases a lump sum of 4 times salary may be paid to the deceased’s estate and the balance of the fund must be used to buy a dependant’s annuity. We reviewed some planning opportunities that may facilitate payment of the full fund to the estate.
Does your company have a rental property? Revenue rules allow a company to pay a salary to a director who manages a property. Any amount allowed as a deduction for salary may be pensioned.
Other topics discussed included maximising employer pension contributions prior to retirement, backdating relief for personal pension contributions, and revisiting benefits after retirement.

Should you wish to discuss any of the above or need any further information or advice, please do not hesitate to contact us at or alternatively you can call the office directly on 01 4972544.