Alan Godbeer

Alan Godbeer
Sales Director

Two Controlling Directors run their own very successful, cash-rich design technology company.  Both are in their early 50s.

They have previously focused all their energies on building the business, thinking (not unreasonably) that they would have plenty of time to think about retirement provision later.  Consequently, they had no pension benefits other than through their membership of a workplace pension scheme.

By using the DB SSAS’s accelerated pension contribution potential, their company was able to put more than £500,000 into the scheme for each of them in the first year (utilising their available Carry Forward Annual Allowances) and get close to £1 million total funding each over the next 3 years.

At the same time, as the contributions from the company were in respect of Controlling Directors and offset against profits in the accounting period the contributions were made and there was a substantial Corporation Tax saving.