Company Pensions

An Occupational Pension which is more commonly known as a Company Pension is setup under a Trust by an employer (company or individual) to provide retirement and/or death benefits for employees (including Directors) and has to be exempt approved by the Revenue. Company Pension arrangements can include any number of members from one upwards.

State pensions are not ignored in the design of Company Pensions and are generally taken into account when calculating the total pension paid. In most schemes, the State pension payable to an employee is deducted in whole or in part.

There are two basic types of occupational schemes are defined benefit and defined contribution.

 

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