Pension plans are an important component of all wealth planning. Sovereign offer a range of retirement savings solutions and pension plans including Qualifying Recognised Overseas Pension Scheme (QROPS), Qualifying Non-UK Pension Scheme (QNUPS) and other retirement savings options.
Under UK legislation, effective from April 2006, expatriates or UK residents who have a demonstrable intention to move overseas may transfer the value of their UK pension rights to a non–UK pension scheme and thus potentially avoid exposure to UK tax and many of the UK pension fund restrictions. Sovereign has developed a market-leading range of HMRC-recognised QROPS and QNUPS in Gibraltar, the Isle of Man and Malta, which are world’s leading jurisdictions for pension transfers.
An international retirement savings plan is a low cost, highly efficient method to plan your retirement and long-term future. It enables you to accumulate wealth to fit your financial circumstances as they change. There is no need for a regular fixed monthly commitment as assets can be added to the plan at any time. Free from income or capital gains tax, retirement fund growth will be maximised from the outset. International retirement savings plans can be established as individual plans, joint plans for spouses or as multi-member plans.
Go to our Group Pensions Services for more details