Trustee Buy Out Plan

Full Support

Full support

- Innovative range of investment options
- UK based admin and support teams
- Insight driven employee communications
- Secure online servicing
- Market-leading technology

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

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