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Planning — Pensions for High Earners

Speed Read: The pension tax changes brought in last year have removed much of the incentive to save in the form of pensions for higher earners. Receiving an increased cash award may now and in the future prove more attractive to some than traditional pension contributions. Making additional cash awards though is not the only solution available to replace pension contributions. Employers could consider alternative solutions to pension contributions such as setting up an 'Employer Funded Retirement Benefit Scheme' or perhaps establishing a platform which facilitates direct participation in capital investments which can be both more flexible than a pension and more financially compelling.
There may be a silver lining to the 'pension changes' cloud. Recognising the distorting effects of the traditional tax model have gone allows us to reflect on whether that...

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