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Pensions have never been more complex than now.

Pensions Case Study


How moving to a QROPS saved £330,000

Mrs Jones, a 68 year old widow, had lived and been resident for tax purposes in Spain for the previous 13 years. ...

Self-Invested Personal Pensions (SIPP)

A SIPP is one of the most popular ways to take control of your pension as this provides much greater freedom in terms of choice of investment than is often available through a more conventional pension.

It also allows greater control over the administration, death benefits and income available from your pension. SIPPs have been around for more than 25 years and whilst they were once considered the preserve of the very wealthy they are now much more mainstream.

The benefits of technology mean you can be as actively involved as you wish to be – with online 24/7 access which could enable you to make individual investment decisions. Alternatively you might choose to leave the investment decisions to your appointed Investment Manager and review these regularly online.

The most important aspect is that a SIPP puts you in control allowing you to decide who will carry out the administration of your pension, who will invest your SIPP fund and even in what currency your pension income is paid.

Richmond Wealth can help you decide what pension is right for you as well as provide advice on whether it would be appropriate for you to have a SIPP.

Small Self-administered Schemes (SSAS)

A SSAS would be regarded as quite a specialised type of pension arrangement and is generally intended for more than one member although not more than twelve. The collective nature of this type of plan means that those involved in the scheme would normally have some form of relationship – for example they could be business partners or maybe each other’s spouse.

A SSAS could allow partners in a firm to bring their pension arrangements together to purchase a property for use by the business. Rent is then paid to the SSAS pension plan and could be used to repay a mortgage that part financed the property purchase.

There are specific rules that relate to the payment of income from a SSAS that can also make them attractive for family members.

Pension rules can be very complex, especially when more options are available than with say a personal pension plan. Richmond Wealth can provide you with advice and help in determining the right type of pension for your specific circumstances.

Company Pension Plans

Whether you are a small business or a medium sized enterprise you will probably be coming to terms with the need to operate a Company Pension Plan. As with all things pensions, this can be complex as there are very specific rules around what has to be done and when. The onset of Auto-Enrolment means there are large fines for getting some of these things wrong.

With many years experience in establishing, operating and providing advice on pensions to employers of all sizes we can help by taking over some of the work involved with your pension.

We can provide fully bundled solutions linking directly with your payroll that will involve minimal staff time, allowing you to focus on what you need to do in running your business. We can provide a fully comprehensive range of benefits as well as pensions including Death in Service cover, Spouses’ pensions, healthcare etc.

For employers and staff that wish to have more active involvement in their pension arrangements we can provide support and guidance to ensure they get things right.

We can provide an initial assessment of your current pension arrangements and benchmark these against industry standards, regulatory requirements or your peer group to ensure you are attracting and retaining staff with provision of the right level of benefits.

Visit our dedicated Auto-Enrolment section to find more details on the help available if you are approaching your staging date and need to know what to do. Our fully automated web based auto-enrolment solution will allow you to meet your employer responsibilities with minimal disruption and inconvenience.


This is the biggest change in UK pensions in a generation and you could hardly have missed the television advertising of “I’m in”. For both employers and employees the whole process of complying with the requirements of auto-enrolment can be quite unsettling.

It is important to understand that providing a pension is only a small part of an employers responsibility under the new Auto Enrolment rules. The most onerous aspects are the record keeping, ongoing assessment of your staff at each pay reference period and ensuring the correct contributions have been paid on time.

We have a great deal of experience in scheme design, A/E implementation as well as default investment strategy recommendations and investment reviews.

The new pension freedom rules have made good scheme design ever more important and we already have an excellent track record of increasing employee engagement.

Whether you are establishing a scheme for the first time or wondering if you should expand your current pension plan we can help.


Qualifying Recognised Overseas Pension Schemes (QROPS) might not be what you expect. Most people believe these are only for those living overseas or those who have retired to warmer climates.

These specialist plans are somewhat unique as being classified as an overseas pension arrangement whilst still being available to UK residents. This specific residency exemption means that some of the tax advantages normally enjoyed by those based abroad can be enjoyed by a UK resident.

Individual advice is recommended and if you still have a UK pension whilst living abroad, then advice is essential.



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