These are not pensions at all really, and are only needed if the Earnings
Cap is a problem, ( and you are fully funded up to the earnings cap with a suitable
pension). Key Features
Company deducts premium as an expense for tax purposes
Company is subject to NI charge
Employee is taxed in full as income ( as a benefit)
Fund normally held in trust, and investment growth and income subject to trusts tax regime.
Benefits normally provided as lump sum. No extra tax due at that time, (unless funds have been held offshore, in which case there may be a tax liability)..
