Firms look to 'exotic' alternatives to pensions for top staff

Friends Provident says it has received enquiries from a number of FTSE 250 companies looking for more tax efficient alternatives to pensions. While vehicles such as Employer Financial Retirement Benefit Schemes (EFRBS), Employee Benefit Trusts (ETBs) and Maximum Investment Plans (MIPs) have been seen as exotic in the past, they will become increasingly common in the financial planning landscape in the coming years, according to Dominic Fryer. Fryer, UK Corporate Strategy Manager for Friends Provident, says alternative vehicles are becoming more popular due to restrictions on pension t...