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INTERNATIONAL PERSONAL PENSION SCHEMES (IPPs)

An International Personal Pension Scheme offers a tax neutral convenient and cost effective method of retaining funds in a secure well regulated environment.

The flexibility of International Pension 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 the option of having 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 ensure that any surplus funds after death are transferred into a trust or other similar arrangement.
• 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 career in differing overseas localities for the same employer.
• Pensions fall outside the scope of the EU Savings Directive and because there are no limits to the contributions made into a scheme, assets already possessed may be transferred into such a scheme.
• Suitable for Companies employing highly qualified expatriates in low tax environments-such as the Oil and Gas Industry.
• Suitable for airlines operating from the Middle East.

For more information on the IPP/ICP please follow the links below to our Knowledge Base:

Isle of Man Legislation