Alan Godbeer

Alan Godbeer
Sales Director

A family-run business consisting of dad, mum and two adult children.

The dad has a SIPP with a fund of nearly £1 million, most tied up in a single commercial property.

The mum has a smaller SIPP worth about £100,000.

The two adult children have little pension provision.

The dad is confident that he can obtain Planning Permission which, if granted, would allow him to sell the property to a Developer for around double the current value.

By setting up a DB SSAS and transferring the SIPP (including the property in-specie) to it before applying for Planning Permission, the subsequent considerable upturn in value would sit as a large surplus within the DB SSAS.

By distributing this DB pension surplus over time to the wife and children, what would have then (before it was abolished) been a significant Lifetime Allowance issue for the dad was avoided and, as importantly, the pension wealth of the family as a whole could be spread more evenly, helping the children to have a great kick-start to their pension journey and helping to maximise Tax Free Cash and tax-free Death Benefits for the dad.