Retirement Planning South Africa

About Retirement Planning

Saving for retirement is an essential part of wealth management. Sovereign Trust provides investors with a selection of international retirement planning products and solutions that are designed to enable members to build and hold their retirement savings safely and efficiently.

It is never too early to start saving. With increasing international mobility, many people find themselves working in several different countries and perhaps retiring in yet another, adding to the complexity of saving for retirement under different pension and tax regimes and then drawing funds tax efficiently in retirement.

For British citizens living overseas, the UK government introduced Qualifying Recognised Overseas Pension Schemes (QROPS) and Qualifying Non-UK Pension Schemes (QNUPS) to assist this market and enable the transfer of UK pensions benefits abroad.

Sovereign Pensions provides a wide range of QROPS and QNUPS retirement options from Gibraltar, Guernsey, the Isle of Man and Malta. The best fit will depend on the double tax agreements between these locations and the countries where you live or work. There is no ‘one size fits all’ solution.

Retirement Planning Products

The Conservo International Retirement Plan

For individuals looking at offshore retirement solutions outside their country of residence, Sovereign has developed a retirement product called the Conservo International Retirement Plan.

The Conservo is a Guernsey-based multi-member Guernsey-based Retirement Annuity Trust Scheme (RATS), which is open only to non-Guernsey residents and is designed with four entry levels that are tiered to suit a variety of retirement planning budgets.

The primary benefit of contributions made into a RATS, whether they originate from an existing pension or from new contributions, is that retirement benefits can be paid to non-resident members without triggering income tax in Guernsey, because they are not liable to Income Tax in Guernsey.

International pensions plan (IPP)

International pensions plan (IPP)

Portable international pensions plans (IPPs) can be set up on an individual or group basis. These trust-based retirement solutions are ideal for internationally mobile employees and also permit investment into more exotic assets alongside conventional investment funds.

Companies can also take advantage of the flexibility of IPPs to top up existing retirement savings, particularly for senior employees or for expatriates working in locations where retirement plans are mandatory, and benefits may be lower than any home-country plan.

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12874