Royal London Ireland chief executive Noel Freeley said the move illustrated the company’s “long-term commitment to the Irish broker market”, after entering Irish pensions with its approved retirement fund and personal retirement bond offering.
However, the Finance Bill 2025, signed into law earlier this month, has placed a limit on employer contributions from a BIK-exemption perspective to 100 per cent of income drawn from the business in the same year. Royal London, the first big life and pensions firm to enter this segment of the market in about a decade, estimates the market will grow even more strongly this year. Financial advisers had warned business owners to use a short window between the unveiling of Budget 2025 in early October and the Finance Act was signed into law on November 12th, to up contributions to maximise tax-efficient payments.