In one of the four webinars inclusive in 2014 Law Management Section membership, Howard Hackney argues that pensions have an unfairly maligned reputation within law firms and can actually bring many advantages to your business

Howard Hackney

Speaker: Howard Hackney

Pensions have a poor reputation - for complexity, for legislative change and for under-performing investment returns amongst others. Mention of the word “pension” is often seen as an immediate turn off and the most boring of subjects. The presenter of this webinar - Howard Hackney - begs to differ and sees the opportunities they present as really quite exciting whilst acknowledging that they do have downsides. In this webinar he will address the following issues in the context of how they apply to law firms:

  • Establishing the fund
  • A strong preference for the flexibility of self-administered arrangements
  • The difference between a SIPP and a SSAS
  • The income tax and inheritance tax benefits
  • Role of the investment manager and SIPP administrator
  • ISAs v. pensions
  • Bankruptcy protection
  • Carry forward relief to maximise the contributions
  • Building the fund
  • Purchase of (your own) commercial premises
  • Investment flexibility
  • Loan back arrangements
  • The new lifetime and annual limits and the protection regime
  • Drawing on the fund
  • Phased retirement or income drawdown
  • Impact of GAD rates
  • Decisions to take on taking benefits before age 75
  • Decisions to take at age 75
  • Guaranteed annuity options
  • Avoiding buying an annuity

This webinar was recorded on 5th March 2014. You can now view a recorded version.

Speakers

Howard Hackney, partner, Howard Hackney LLP

Howard left Grant Thornton UK LLP in 2008 where he had been a partner for over 25 years to establish his own boutique practice. During his time at Grant Thornton he was head of professional practices for the North West and head of family businesses for the UK. At Grant Thornton he had a variety of roles including office managing partner, North West regional marketing partner and membership of the partners appointments panel. Howard specialises in advising mid market professional practices and family businesses. In 2002 he won the CBI’s national award as “Best Business Adviser”.

Howard’s current focus is providing “special projects” advice to firms with up to 20 partners. His experience extends from highly profitable sole practitioners to advising 3 of the top 100 law firms. Recent assignments have included sales of law firms, partnership disputes, fund raising, LLP and limited company conversion, ABS conversions and acquisitions. He has presented a number of webinars for the Law Society on topics including buying and selling a personal injury practice, managing your partner resource, and LLP or limited company?