Retirement Planning

McDonald Associates Ltd is one of only a small number of companies in England that can be truly regarded as independent pension specialists, providing expert advice and administration in all aspects of retirement planning.

We are able to provide in-house, full administration, trustee and advisory services for Group Pension Schemes (including Deferred Benefit and Money Purchase Schemes), Small Self Administered Schemes and Self Invested Personal Pensions.

Group Pension Schemes

We provide services for both Defined Benefit and Money Purchase Schemes.

Our Defined Benefit and Money Purchase Schemes are administered using the P3 system. P3 has been developed at the leading edge of technology and provides a highly efficient system of pension administration. This allows us to provide a highly geared and cost effective service.

The main features of the P3 system are as follows:

* Defined benefit, defined contribution, Hybrid and CARE schemes

* Multi-currency and multi-lingual

* Based on modern technology (SQL)

* Ease of calculation, configuration and maintenance

* Powerful reporting, data extraction and document production - mailmerge, Excel, XML

* Data importing using TXT, CSV or Excel

* Access vial web for members and employers: data, calculations, on-line projections and modelling tools. * Integrated pensioner payroll * Integrated SMPI statements

* Integrated combined pension forecasts and retirement planning (PAS Integra)

* Integrated document management (Hummingbird DM)

* Integrated post allocation, checklist/taskbuilder and service level agreements (SAIL)

* Integrated automation software (A2

* Integrated actuarial valuations (Checkley Fisher)

Actuarial services for Defined Benefit Schemes are outsourced to quality independent actuaries. Presently, Geoff Foden of Foden Baynes provides services to many of our clients. Geoff is a Fellow of the Institute of Actuaries and has been known to us for many years.

Small Self Administered Schemes (SSAS)

We can provide the full range of administration, trustee and advisory services, or whatever of these clients require.

Regarded as one of the most tax efficient and flexible pension vehicles available to directors of limited companies. A particularly tax efficient and attractive feature of the SSAS is its ability to invest in commercial property and borrow and lend money, enabling company directors, through their SSAS, to act as landlord, tenant and bank manager. This can be particularly advantageous for companies looking to grow over the medium to long term.

Independent Trustee Services

Prior to 6 April 2006, the Inland Revenue required all SSASs to appoint a Pensioneer Trustee (PT) as one of the scheme trustees. The PT had to be a signatory of the scheme bank account and party to all investments held, including commercial property and equities.

Through our subsidiary, McDonald Trustees Ltd, we were able to provide full PT services in-house and, as a consequence, can provide identical services now as an Independent Trustee. With our thorough understanding of Inland Revenue practice, we are able to fully maximise the generous tax concessions afforded under a SSAS.

Self Invested Personal Pension (SIPP)

We operate our own SIPP, the McDonald Associates Personal Pension (MAP Pension), to which we can provide administration, trustee and advisory services, or whatever of these clients require.

The contract is available to the self employed, as well as employees and company directors. SIPPs are one of the fastest growing pension products providing a number of attractive options, in particular the ability to purchase commercial property, with fewer accounting and reporting issues than a SSAS.

SIPPs also provide a cost effective vehicle for those in retirement wishing to secure income on a draw-down basis with funds remaining invested. This enabling continued control of pension funds beyond retirement age.

Stakeholder Pensions

We can advise and arrange Stakeholder Pensions, either on an individual or group basis.

The Government introduced a number of significant changes to Personal Pensions in April 2001, in particular the creation of Stakeholder Pensions. Stakeholder Pensions are effectively Personal Pensions, except that, for a contract to be treated as Stakeholder, the Government imposes a cap on charges and sets out strict rules with regard to the terms and conditions of management. These terms make Stakeholder Pensions considerably more flexible and consumer friendly than many Personal Pensions previously available.

From 8th October 2001, new legislation states that all employers employing five or more employees must make available to their employees a suitable Stakeholder Pension Scheme (unless they have in place a Pension Scheme which carries an exemption). McDonald Associates Ltd firmly believe that Stakeholder Pensions are the future of retirement provision and feel that employers should embrace the new legislation. With assistance from ourselves, the implementation and issues surrounding the arrangement of a Stakeholder Scheme need not be onerous or expensive for employers.

Stakeholder Pensions are also available for parents and grandparents who wish to invest in a Stakeholder Pension for their children and grandchildren, and those people without net relevant earnings, such as home makers and carers (subject to a maximum contribution level of £3,600 per annum gross).

Overseas Pensions

Through BW Trustee Company, a joint venture trust company authorised by the Isle of Man tax authorities, we are able to export UK pension funds to the Isle of Man and provide administration, trustee and advisory services in Isle of Man. There are many generous tax concessions available in Isle of Man which are not available in UK. We also enjoy long standing relationships with pension companies in other countries such as, for example, Guernsey and Switzerland, through whom we can export pension funds