Wider pension provision for spouses

Many sole traders and partnerships use their spouses to assist in the support of their business operations. Where there is a bona fide employee relationship, the spouse commonly receives remuneration that falls just below the levels on which National Insurance and income tax is payable. Historically, this low level of earnings has severely hampered the levels of private pension provision they can independently create. Because of this restriction, the funding of an executive pension style of contract offered the business owner the greatest opportunity to pay significant contributions on wh...