In conjunction with local pension specialists qualified to give
pension advice, Fairbairn Private Bank can arrange suitable and
cost-effective pension structures. Our range of discretionary
investment strategies can be held within any of these pension
structures.
UK pension structure (SIPP) - available to UK
residents
As a result of legislative changes in the UK pension
environment, individuals now have greater flexibility in how they
plan for their retirement. Therefore, we can arrange a
self-invested personal pension (SIPP), which is a popular planning
tool due to its wider scope for genuine investment choice.
A SIPP is essentially a pension wrapper that is capable of
holding investments and providing tax efficient savings for
retirement. As a form of personal pension scheme, it offers freedom
to choose and manage your own investments, offering considerable
flexibility.
An onshore SIPP may be suitable for UK residents under the age
of 75. Fairbairn Private Bank, in conjunction with specialist
pension providers in the UK, can arrange a SIPP structure for
you.
Offshore pension structure (QROPS) - available to non-UK
residents
A qualifying recognised overseas pension scheme (QROPS) is any
scheme recognised by HMRC as meeting the standards and conditions
equivalent to a UK pension. This approval process allows anyone
with a UK registered pension who is living outside the UK, or
is intending to leave the UK, to transfer their UK registered
pensions offshore. A QROPS can also be referred to as an offshore
self invested personal pension (SIPP).
Fairbairn Private Bank, in conjunction with specialist pension
providers, can arrange a QROPS structure for you.
Offshore pension structure option
If you are resident in the Isle of Man or
Jersey, or are an international expatriate, you may wish to
hold your self-managed or discretionary managed investments within
an approved pension structure. For Isle of Man and Jersey
residents, such a structure offers the benefits of tax relief on
contributions. International expatriates may not qualify for Isle
of Man or Jersey tax relief, but they are able to share in many of
the other benefits that include:
- being able to play an active role in determining the
composition of your pension portfolio
- flexibility of contributions
- total transparency of assets
- succession planning where assets can be passed onto whomever
you wish in the event of death
- avoidance of the need for probate
- an effective means of asset protection
- flexibility to determine your retirement age
- No requirement to purchase an annuity.
Should you wish to discuss any of the above
services in greater detail, please contact our client services team
on +44 (0) 1624 645000.