Participation in an International Retirement Fund
UK pension structures represent a tax effective environment within which to save for domestic retirement. However, depending on your circumstances, and particularly if you intend to pursue a long, highly mobile expatriate career, it may be very beneficial for you, and/or your employer, to consider participation in an International Retirement Plan.
The benefits of participation in an International Retirement Plan typically include:
- Investment earnings being generated in a low, or no tax, regime.
- Portability, with expatriates having the ability to remain members of a single fund throughout their working life in a wide variety of locations.
- The flexibility to allow the expatriate to choose their own investment funds, or for an employer to appoint an investment manager.
- Relatively simple, outsourced, online administration for employers which still allows them to determine vesting and retirement guidelines.
Before deciding to pursue such an option it is absolutely essential however that you receive experienced professional advice to ensure that there is an appropriate fit for your circumstances. The reason why the structures might be preferred to relatively simple offshore investment account lies with the potential tax planning advantages associated with pension funds in a number of jurisdictions.
In general, the need for advice and relative complexity means that these sorts of funds are only really suitable in circumstances where the pension fund balance is reasonably large in size. For access to professional advice in relation to participation in an international retirement fund please complete the inquiry form below.