Executive Pension Plan
Your Prudential Executive Pension Plan is a tax-efficient company pension scheme designed primarily for directors, executives and key employees. It is a money purchase pension scheme.
With average life expectancy increasing, topping up your plan can help build up a larger fund for when you retire and therefore a potentially higher level of income. Read about the benefits of topping up.
- Possible range of funds - your pension contributions may be invested in a choice of funds. The funds actually available to you may depend on the particular scheme you join. Note that the value of your fund may fluctuate and you may not get back your original investment.
- Flexibility - change your regular payments at any time, top up your plan with additional contributions, or take a payment break. Note that any changes to your contributions will impact on your benefits at retirement.
- Tax-efficient saving* - Your contributions qualify for tax relief, and you can take a tax-free cash lump sum on retirement. Read more about the tax benefits. Note that pensions in payment are taxed as earned income.
*The above is based on our understanding, as at May 2014, of current taxation, legislation and HM Revenue & Customs practice, all of which are liable to change without notice. The impact of taxation (and any tax relief) depends on individual circumstances.