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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
For more target market and suitability information for this product download the statement of Target Market.
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Product news
- Capital Gains Tax changes to direct property investment held within Offshore Bonds
12 November 2019 - Brexit and potential changes to FSCS protection for International Bond clients
26 September 2019 - We’re sending some clients a Summary of Charges from 30 August 2019
29 August 2019 - Onshore Bonds investing in the Distribution fund
20 August 2019 - UK with profits bonus declaration – 1 August 2019
01 August 2019
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.