Equilibrium Pensions

International Pensions

Some of the key features in the use of International Pension Schemes are:

  • There are minimal restrictions on the contributions that may be made.
  • There are minimal restrictions on the amount of benefits or age at which they can be taken.
  • They are tax neutral.
  • There is no requirement to purchase an annuity.

The flexibility of International Pensions Schemes means that there are many different circumstances in which they can provide a solution to the needs of a corporation or individual. These include:

Pension Schemes can be established for international companies whose workforces are in several jurisdictions and who wish to take advantage of the economies of scale and ability to have one pension scheme in one jurisdiction. Locating offshore pensions from many jurisdictions in one place, and for long periods by one well regarded and independent provider and administrator should lead to administrative cost savings, as well as providing stability.
Pension Schemes for small companies who wish to establish a bespoke occupational pension scheme for one or more of their key executives with the ability to direct that any surplus fund after death can be directed into a trust or other similar arrangements.
Pension Schemes for individuals who wish to establish a flexible bespoke pension in a well-regulated environment. There is no need for pension plans to follow the executive as he pursues his or her career in differing overseas localities for the same employer.

Both International Corporate and Personal Pensions have the following characteristics, which make them extremely attractive:

  • The Pension assets can become part of the deceased member's estate.
  • There is no upper limit to the size of the scheme.
  • There is considerable flexibility as to eligible assets/investments (in accordance with the Statement of Investment Principles).
  • The scheme will benefit from the gross roll up of assets.
  • It is well regulated, being located in the only offshore centre to have a dedicated pension regulator.
  • It is simple in operation.
  • The employee can decide where he or she is to retire without prejudicing his or her final retirement location, by his or her choice of pension.
  • The employee does not suffer additional tax charges beyond whatever is the norm in his or her choice of retirement country.
  • Retirement age is not prescribed.
  • The Pension is located in a Country with over 1,000 years of stable democratic Government, in a choice of currencies.