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Welcome to RL360's

dedicated financial adviser website

For financial advisers only

Not to be distributed to, or relied on by, retail clients

Planning with Paragon

Paragon for retirement

One of the key benefits to taking out a pension in the UK is the tax relief associated with paying monies into it. However, if your client has left the UK and is resident internationally, those tax reliefs can be reduced dramatically. Take for example a SIPP. Your non-UK resident client will only benefit from tax relief up to GBP3,600 per year. SIPP members must also adhere to the annual and lifetime allowances in place with all UK pension schemes.

Enter Paragon. Paragon is the savings plan for clients who aren’t retiring about retiring. Unlike a pension, Paragon is flexible: your clients can pay in as much as they want, with no benefit reviews, and make withdrawals at any time after the initial allocation period. More importantly, there is no obligation to purchase an annuity at the end of the premium term. In addition Paragon can be wrapped inside one of our trusts free of charge which could prove beneficial for tax mitigation & inter-generational planning.

Using Paragon as a pension alternative for your client could help support them if they want to retire or partially retire before existing pension payments begin, and may need to fill the income gap. Or it may help them if they may want to start their retirement in style by taking the holiday of a lifetime, or buying a special place in the sun as a retirement gift to themselves.

Paragon for general saving

Some clients, with no pressing need to save, simply understand that it’s never a bad idea to accumulate wealth. Paragon offers them a disciplined saving routine which, in turn, can give them a warm glow. And, you might mention, this regular saving habit can also safeguard them against unexpected expenses such as medical bills. What’s more, Paragon is easily portable, and so ‘relocation-proof’.

We make it so easy for your clients to start to save. So we can all share in the satisfaction of a good job well done.

To find out more, visit the Paragon download section.