Service Description

A 2-day training program on Understanding UK Pensions, covering various aspects such as types of pensions, tax implications, pension options for individuals and businesses, regulations, and compliance. Day 1: Understanding UK Pensions • Introduction to UK Pension Systems. • Types of UK Pensions: • State Pension • Workplace Pensions • Personal Pensions • Self-Invested Personal Pensions (SIPPs) • Pension Jargon Decoded: Key Terminology. • Tax Implications of Pensions: • Tax Relief on Contributions • Tax-Free Lump Sums • Taxation of Pension Income • Lifetime Allowance and Annual Allowance. • Case Studies and Tax Calculation Exercises. Day 2: Pension Options for Individuals and Businesses • Regulations and Compliance in UK Pensions: • The Pensions Regulator • Auto-Enrollment Requirements • Contribution Rules and Limits • Record-keeping and Reporting. • Rules for Organisations Operating Company Pension Schemes. • Stakeholder Pension Options for Employers: • Setting Up a Stakeholder Pension • Employee Contributions and Matching • Benefits and Risks. • Options Available on Retirement: • Annuities vs. Drawdown • Tax-Free Cash Options • Inheritance and Legacy Planning. • Retirement Planning Exercises and Case Studies. Throughout the training, participants will engage in discussions, Q&A sessions, and practical exercises to enhance their understanding of UK pension systems. They will also receive guidance on how to make informed decisions about pension options, considering tax implications and compliance requirements. Additionally, participants will gain insights into retirement planning and the various choices available when accessing their pension savings. At the end of the program, participants will receive a certificate of completion, recognising their knowledge of UK pension regulations and options.