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Overview
The Trustee Buy Out Plan (TBOP) acts as a ‘bulk section 32 buy out’. It gives employers and trustees a hassle-free way to wind-up a scheme, as well as security and peace of mind.
TBOP assists employers and trustees to discharge their liability on the winding-up of a company pension scheme. It offers them a straightforward process that requires no member consent and complies with the winding up regulations of the relevant legislation.
Features of the TBOP:
- Simple and compliant – removes trustee obligations and doesn’t require member consent
- Flexible – can operate as a standalone product or alongside another product for ongoing payments
- Earmarked benefits – members can have individual policies for their own benefits
- Potential Inheritance Tax (IHT) advantages - individual policies are written under trust, which means that the death benefit will not normally be liable to IHT
Literature
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button if you want to remove a document from the list. Product news
- New safeguarded flexible benefits warning – requirement to 'pause' some transactions for 2 weeks
30 March 2018 - FCA Policy Statement 18/6 – Advising on Pension Transfers
28 March 2018 - Regulatory PS17/12 – Prompts in the Annuity Market
06 March 2018 - Investing your Onshore Bond in the Distribution fund?
20 February 2018 - Contacting us on Wednesday 31 January
29 January 2018
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The information on this site is for qualified financial advisers and must not be relied on by anyone else. If you are not an adviser please go to our customer website for more information about our products and services.
