You can move directly to the service of your choice from the menu below.

Corporate Services 

·        Group Personal Pension Schemes

·        Group Defined Contribution Schemes

·        Key Person & Shareholder Protection Cover

 

Personal Services 

·        Executive Pension Plans

·        Self Invested Personal Pension Plans (SIPP)

·        Transfer of accrued pension benefits

·        Flexible Income in retirement

·        Income Protection

·        Life Cover

 

Additional Links to Some Helpful Information  

 

Group Personal Pension Plans & Group Defined Contribution Schemes 

As an employer you will be seeking to receive assistance in either establishing a new Group Personal Pension Scheme (GPP) or reviewing the arrangement you already have in place. Brook will provide a full audit of any existing arrangements and make recommendations to meet with the company’s objectives. This could include the financial considerations of having to move from a defined benefit scheme (final salary arrangement). It may possibly be the need to switch from a defined contribution scheme (money purchase) to GPP because of the concerns of the trustees in discharging their duties under the Pensions Act 1995 and the proposals currently under review. 

You will have access to additional services to complement the employee benefit programme you have in place or are seeking to implement. They include: -

·        Establishing the scheme with the product provider including completion of all documentation.

·        Manual of all internal procedures for your company to be compliant with the pension regulations.

·        Assisting with all member applications, especially for GPP schemes.

·        Management of the payment of scheme contributions to the product provider.

·        Communications and briefings to your employees and scheme members.

·        Workplace pension advice for prospective members.

·        Annual pension review presentations to members.

The services are normally offered on an agreed fee basis. Commission based pension products can be included as part of the agreement to cover the total charges for the services provided.

 

 

Key Person and Shareholder Protection 

Cover can be arranged to protect the business from the financial loss to the company of key persons from illness or death having identified the risk and quantifying the potential liability. The cover can include shareholder (or partnership) protection, which will facilitate the purchase of shares of a deceased director by the surviving directors (or partners). Brook will assist your company in recommending and implementing the most suitable arrangements to meet with the cover you are seeking and to also assist with obtaining approval from the Local Inspector of Taxes.

 

Executive Pension Plans and SIPP 

The company or you personally will be seeking to augment your existing pension arrangements or establishing your first pension plan. The services provided will cover a full audit of any existing arrangements, including former occupational pension arrangements. You will be advised on funding levels to meet with your retirement income objective, investment of the pension fund and any specialist requirements, for example property purchase. A recommendation will be made on the most suitable arrangement and on the implementation and future administration of the plan. The services are normally offered on a fee basis but the agreement can include commission from the product taken out as part of that agreement. 

 

Transfer of accrued pension benefits. 

Commonly known as a transfer value from a previous pension arrangement (occupational or personal plans) and you will be provided with a report and recommendations on the viability of making such a transfer. This can be to your new employer’s pension arrangement or to a private pension plan. This service is strictly fee based and you will have the option to request further services if you wish to proceed with the transfer to a personal pension plan.

 

Flexible income in retirement 

Sometimes also referred to as “income drawdown” and enabling you to take the level of pension income you decide from your accrued pension fund at retirement age and without the need to immediately purchase a guaranteed annuity for life. The level of income must be within laid down limits and you will receive full advice on the options depending on your personal circumstances. If you elect to proceed with such a plan further recommendations will be made on a suitable contract and in the implementation and future advice you will need in administering the arrangement. These service are offered on a strictly fee basis.

 

Income Protection and Life Cover 

You will be seeking advice on taking out cover or additional cover to meet with an identified financial liability. Choosing the most suitable policy and obtaining medical underwriting terms may be a long process and often the lowest premiums may not be the reason for recommending a product. Specialist services are available in income protection cover including advice on state benefits. A non refundable administrative fee is payable prior to making available the services you require.

 

	Helpful Information – just click on the topic

The following links to external websites are intended as a helpful addition to the Brook website, and are all valid at the time of publishing the site. We will monitor their validity from time to time, and it would be helpful to us if you would report any links which fail because the owner of the website has redesigned the site, or has removed the page or document.

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