Our range of personal pension plans caters for individuals who already have existing overseas pensions or for those who wish to start funding a supplementary pension for their retirement.
We offer personal retirement plans from our offices in Guernsey as contract-based plans which can offer significant advantages for individuals who are, or intend to become, resident in civil law jurisdictions or jurisdictions that subject foreign trusts to adverse tax treatment. All of our personal pension plans can purchase any of our annuity contracts in line with the individual needs of the member.
We do not provide any form of financial or tax advice and each potential member must seek independent advice on their individual profile to ensure compatibility with the selected plan
A Qualifying Non-UK Pension Scheme (QNUPS) is a non-UK pension scheme open to UK residents or expatriates who are looking for a supplementary or standalone pension that is not subject to UK annual or lifetime allowance restrictions but can still offer a streamlined provision of retirement benefits. As a non-UK pension scheme, contributions do not obtain any UK tax relief however QNUPS can be highly beneficial for individuals who have retained, or will obtain, UK domicile for UK inheritance tax purposes. However, applicants and members should always seek independent tax advice.
Retirement benefits can be taken from age 55 when members can draw up to 30% of the total value. It may also possible to take a fully commercial loan from the QNUPS at an earlier age if needed.
All retirement benefits are paid under Guernsey's domestic tax laws and are therefore not subject to any withholding tax in Guernsey*, however the member will need to declare the payments to the relevant tax authorities where necessary. All payments made to annuitants will be declared in accordance with CRS and/or FATCA reporting obligations.
The QNUPS can be used to invest in a wide variety of investment classes, including property, provided that a general level of investment diversification is applied in keeping with the Regulations.
There are no maximum or minimum funding limitations imposed on QNUPS, however any contribution should conform with the Member's pension requirements. For further information, please contact our support team or speak with your financial advisor.
*except for Guernsey tax resident individuals.