Willis Group Holdings has launched a group self invested personal pension (Sipp) for its UK-based associates.
Staff who participate in the firm’s sharesave schemes and other stock plans can transfer their assets in to the group Sipp when they vest and enjoy a tax break. This will allow staff to transfer shares into the scheme with no exposure to market or currency movements at the time of the sale and repurchase.
Richard Bostock, pensions director, said: “We have a significant proportion of associates who hold shares or invest in our sharesave schemes. This Sipp provides an excellent incentive for them to use these shares to help fund their retirement.”
Willis was assisted in the design of the scheme by its employee benefits division, Willis Employee Benefits.