Gibraltar Occupational Pension Schemes

Local Expertise

Sovereign Gibraltar is the head office of the Sovereign Group which began in Gibraltar in 1987 and has since grown into one of the largest independent providers of corporate, private client, retirement planning, insurance and tax services, with a network of 23 offices globally.

Simplicity

We understand that you are busy running a business and, as a partner, we pride ourselves on keeping things simple. Whether you’re looking to upgrade an existing occupational pension scheme or starting a new scheme from scratch, our experienced team will assist you to select a scheme that meets the requirements under the ‘auto-enrolment’ regime and that matches the size of your operations. We will then deliver that scheme as swiftly and efficiently as possible.

Affordability

Sovereign’s occupational pension schemes can be tailored to suit your company’s budget. Corporate pensions or savings provision are a vital consideration for any employer that wishes to maintain a loyal and committed workforce. Our aim is to minimise the cost and administrative burden, while helping you to attract and retain the best talent, fulfil your duty of care, and help your employees build for the future.

Easy administration

Our online control centre puts Gibraltar employers in instant control of all aspects of an occupational pension plan. It also provides plan members (employees) with the freedom to engage directly with their account within a secure environment and gain a clear and concise overview of their position.

Our association with EasyPay means payroll and pensions can be administered with ease and in the same place.

Scalability

Sovereign’s occupational pension schemes can easily expand alongside your business. We have developed a model that makes compliance with both the Private Sector Pensions Act and Institutions for Occupational Retirement Provision (IORP) regimes fully scalable for employers and their employees with minimal cost and disruption.

Asset Security

Sovereign provides trust-based occupational pension schemes in which the assets of the plan are held in trust for the beneficiaries (the employees). This ensures the legal separation of the plan’s assets from those of the sponsoring employer and protects the plan from any party seeking to lay claim to the assets of the business.

Employee Protection

The Gibraltar Private Sector Pensions Act appoints the Financial Services Ombudsman to deal with any complaints and he/she is empowered to “investigate, facilitate, mediate, propose or determine solutions to a dispute arising from the provisions of this Act and submitted by or on behalf of an employee or other beneficiary of a pension provided pursuant to this Act.”

Investment

Investments lie at the heart of any good savings plans. We offer a range of funds from leading investment managers to suit a variety of different risk appetites. Sustainability is also central to our investment ethos – allowing employees to balance growth and ethics in their savings provision.

Employee engagement

Mandatory access to workplace pensions has increased the need for effective, proactive engagement with scheme members. We cannot expect everyone to be a financial expert. Our ‘Knowledge Hub’ empowers your staff to get to grips with this complex subject and to understand their rights and responsibilities.

Local account management

Complying with Gibraltar’s new ‘auto enrolment’ regime is not just about pensions. It also involves business planning, integrating new processes and the engagement of employers and employees alike. Sovereign has established itself as a market leader in pensions’ provision through substantial investment in our staff, systems and infrastructure. As a local provider, we will always be on hand to assist you and your employees in person.