Pension options in 2021: Addressing your pension client needs

Technical Summit 2020

Join Liam and Jemma in this session as they cover:  

• Pension decisions for 2020/21 under the Temporarily Reduced Minimum Pension Payments Covid-19 relief;
• Assessing client’s income needs;
• Assessing opportunities to reduce Taxable components and reduce TBAR balance;
• Income options where there is only 1 pension account per member;
• Income options where there are more than one Pension Accounts;
• Income options where there are Pension and Accumulation Accounts;
• Which is preferred TBAR Debit v using Accumulation;
• Minutes to facilitate decisions;
• Consideration of Reversionary v Non-Lapsing Binding Death Benefit Nominations, and;
• Transition to retirement – Accumulation Phase, are they still worthwhile?

At the end of the session, you will be able to:

• Understand how to meet client’s income needs for 2020. Understanding the options available to optimise the client’s tax components and TBAR and what documents are needed to implement decisions;
• Understand the options of Reversionary v Non-Lapsing Binding Death Benefit Nominations, and;
• Understand strategies using a Transition to Retirement pension – Accumulation Phase.