John W Wilson Research Consultant HSBC Actuaries and Consultants Limited discusses a welcome measure related to FURBS in the recent Finance Bill1
While the Finance Bill 2003 did not contain any real pension scheme surprises there was tucked away in the subsequent Inland Revenue press releases 2 a welcome (and long overdue) measure related to funded unapproved retirement benefit schemes (FURBS). This article provides a commentary on that measure after summarising the anomaly that it is intended to address.
When the earnings cap3 was introduced in 1989 FURBS were given a new lease of life as a means of providing retirement and death benefits for those with salaries in excess of it. Practitioners soon realised however that life cover under FURBS would have...
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John W Wilson Research Consultant HSBC Actuaries and Consultants Limited discusses a welcome measure related to FURBS in the recent Finance Bill1
While the Finance Bill 2003 did not contain any real pension scheme surprises there was tucked away in the subsequent Inland Revenue press releases 2 a welcome (and long overdue) measure related to funded unapproved retirement benefit schemes (FURBS). This article provides a commentary on that measure after summarising the anomaly that it is intended to address.
When the earnings cap3 was introduced in 1989 FURBS were given a new lease of life as a means of providing retirement and death benefits for those with salaries in excess of it. Practitioners soon realised however that life cover under FURBS would have...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
