Employee benefits and executive mobility
Companies with global employee mobility programmes find that providing financial education and individual financial advice can add significant value to both the company and employees.
Making international programmes successful requires well thought-out solutions and excellent management. When executives are well informed of the personal benefits and pitfalls of working abroad, the assignment is likely to be more successful for everyone.
 

 Overview

 
For those considering, or having accepted, an assignment, our advice services include:

UK executives working overseas

  • the financial opportunities surrounding the assignment
  • pre-departure planning
  • interpreting company packages
  • what to do about the family home
  • what to do about pensions
  • cross-border investment strategies
  • planning a return to the UK

Foreign national executives

  • financial planning opportunities in the UK
  • financial considerations before you arrive
  • cross-border pension planning
  • cross-border investment strategies
  • protection and healthcare benefits in the UK
  • preparing to return home

Healthcare and protection for foreign national executives

Punter Southall’s Health & Protection consulting practice specialise in advising employers on international benefit programs, including: life assurance; income protection; and specialist medical insurance policies.

In addition to traditional insurance, we specialise in advising clients on setting up and managing multinational pooling arrangements.

The Health & Protection practice is part of the Asinta Network, enabling us to help our clients source English-speaking benefit experts around the globe and carry out full global benefit inventories. Asinta is a real advantage when international operations need support with local employee plans.
 
 

 Insights and views

 
    PSDCC Pensions Bulletin - February 2012
    20 February 2012
    In this issue
     
    • Clearing of the in-trays
    • Clearing of the in-trays: speed read
    • QROPS
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     
    Download a copy
    Read more
    Pensions Bulletin - January 2012
    10 January 2012
    In this issue
     
    • Clearing of the in-trays
    • Clearing of the in-trays: speed read
    • Behind the scenes
    • Other recent developments
    • Publications round-up
    • Dates for your diary

    Download a copy
    Read more
    High Earners & Contributors: Survival Guide
    2 January 2012
    Update: January 2012
     
    We are now producing additional survival guides on some of the more technical aspects of the new taxation regime. If you would like to see any of these notes, please contact Sarah Tolson for a copy.

    11: Using pension benefits to pay the annual allowance charge: scheme pays in practice
    10: HMRC provides further detail on fixed protection
    9: HMRC revises its interpretation of the carry-forward rules
     
    Further notes will cover topics such as on the ‘carve-out’ from the annual allowance for deferred members, the valuation of benefits for the purpose of the annual allowance and the new ‘scheme pays’ provisions.
    -------------------------------------------------------------------------------------------------------------
    In the 2009 Budget, the Government announced fundamental changes to the way that pensions will be taxed from 2011 for high earners and introduced immediate measures designed to prevent individuals increasing their pension savings in anticipation of these changes.

    These changes will affect not just high earning individuals but also companies, trustees and pensions managers. At the Punter Southall Group, we can draw on a range of expertise to enable us to provide advice to all of these parties. We can ensure that:
    • companies have the right remuneration strategy in place for their key staff;
    • individuals make the right decisions on their pension based on their circumstances; and
    • trustees can implement the new information and administration requirements effectively.
    We are now launching our “High Earners & Contributors: Survival Guide”. Through a series of straightforward and focused briefing notes, we will help you to develop an understanding of the changes ahead and keep you up to date with developments as they occur.
     
    Note 6: What do the annual allowance changes mean for pension schemes?
     
    Note 5: More detail on the tax changes emerges
     
    Note 4: Annual allowance approach confirmed  
     
    Note 3: HM Treasury consults on alternative approach  
     
    Note 2: Annual allowance: an alternative universe 
     
    Note 1: High earners: five key tax changes – will you be ready?
     

     

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    Will the ‘holistic balance sheet’ prove to be Solvency II by the back door?
    23 November 2011
    On 25 October 2011, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on its draft advice to the European Commission (EC) to help the EC’s review of the Institutions for Occupational Retirement Provision (IORP) directive. This review could have very significant implications for the funding of UK defined benefit (DB) pension schemes if it results in a funding regime similar to the Solvency II directive regime for insurers.

    View the briefing note
    Read more
    Pensions bulletin - October 2011
    13 October 2011
    In this issue
     
    • Back to work for the Pensions Minister
    • Back to work: speed read
    • Behind the scenes
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     
    Download a copy
    Read more
    Pensions bulletin - July 2011
    1 July 2011
    In this issue:
     
    • Policy focus: one year on from the Coalition’s first Budget
    •  Policy focus: speed read
    •  Behind the scenes
    •  Other recent developments
    •  Publications round-up
    •  Dates for your diary
     
    Download a copy 
     
    Read more
    EC calls for advice on review of IORP directive
    27 May 2011
    In April 2011, the European Commission (EC) issued a Call for Advice from the European Insurance and Occupational Pensions Authority (EIOPA) to prepare for the Commission’s planned review of the Institutions for Occupational Retirement Provision (IORP) directive.
     
    View the briefing note
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    Test-Achats: are the days now numbered for sex-specific actuarial factors?
    1 April 2011
    On 1 March 2011, the European Court of Justice (ECJ) passed judgment on the Test-Achats case. This case was widely reported in the press for its impact on insurance premiums which will need to be equal for men and women from 21 December 2012. Although it concerned insurance contracts, the case could also potentially affect UK occupational pension schemes.
     
    View the briefing note

     

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    High Earners & Contributors Survey
    1 October 2010

    In April 2009, the then Chancellor of the Exchequer, Alistair Darling, announced that tax relief on pension contributions was to be restricted for high earners. Since then, it has been a long journey for employers, trustees and affected individuals, with details of the proposals being slow to emerge and a complete change of direction being announced in June 2010: the original plans for a charge affecting only those with incomes over £130,000 are now almost certain to be replaced by an approach based on a reduced annual allowance.

    During July and August 2010, we asked our clients and contacts to let us know how they felt about the changes and the impact they would have on their pension schemes and remuneration strategies. We have set out our findings in this report. We also included some of the preliminary findings in our response to HM Treasury and HM Revenue and Customs on their recent consultation on a possible reduced annual allowance approach. There were over 130 respondents to the survey, who together have given us a cross-section of the views of the pensions industry. The respondents include finance directors, trustees and pensions managers, with backgrounds ranging from charities to FTSE 100 businesses.

    Download a copy

     

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    Visit the Industry Insights page for news and views on the latest industry developments
 

 Events

 
    Speak to us
    Speak direct to our specialists in this area
    Julia Whittle
    Head of International, London
    Email Julia
    Or call us on
    020 7839 8600