We've improved our PRSA

The preferred solution for your customers?

The Finance Act 2022 amendments changed the way PRSA are managed. This means that PRSAs are now a viable alternative for clients who might previously have been best served by an Executive Pension. You can find a full comparison of occupational pension schemes and PRSAs in this table. Another reason PRSAs may be preferable in many cases, is clients being able to preserve the standalone nature of the plan, while you maintain a direct, one-to-one relationship with them.

Finance Bill 2022

The Finance Act 2022 amendments have made the PRSA a comparable alternative to an Executive Pension. Some reasons to choose a PRSA include:

• Improved funding limits* for employees and company directors, and all employer contributions receive tax relief in the year they are paid
• Where an employee dies in service, the full PRSA fund is paid to their estate
• PRSA holders can drawdown their retirement benefits in stages, up to age 75, using multiple PRSAs

*subject to Standard Fund Threshold

The Synergy PRSA from Standard Life

One thing that hasn't changed is our commitment to you and your clients. We're here to offer excellent service, technical support and a wide range of PRSA investment choices, including self-directed options. 

We're also glad to show you our support. So we've introduced improved commission for regular PRSA contributions and enhanced bonus commission for single contributions and transfers from another pension provider. 
 

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