Personal Pension (Retirement Trust Schemes)
The Vantage Personal Pension Plan is designed exclusively for Jersey residents and enables individuals to provide for retirement in a flexible and cost effective manner.
Established under a retirement trust, our personal pension plan offers a flexible, tax efficient solution for retirement planning. It can accept transfers from existing (or previous) pension schemes, including QROPS transfers** for UK pensions, and can be funded through contributions from the individual, their employer, or a combination of both.
Established under Jersey law and approved by the Jersey Comptroller of Income Tax, a retirement trust is a Jersey trust arrangement to allow local residents to save for their retirement as well as to receive an income when they retire. Pension contributions, as well as any transfers from previous pension plans, are held in trust by the trustees for the benefit of the member.
With full tax relief available on contributions*, a number of options available to take your pension at retirement and the ability to take a 30% tax free option after you reach age 50, a retirement trust offers a perfect solution for your retirement planning
*subject to a maximum limit as set by the Jersey Comptroller of Income Tax.
We accept direct client applications, subject to our criteria standards, who must prove they have the relevant experience, qualifications and knowledge to make their own decisions.
Qualifying Recognised Overseas Pension Schemes (“QROPS”)**
A QROPS allows individuals who live outside the UK, or are intending to leave the UK, to transfer their UK registered pension into an approved offshore pension scheme without deduction of UK tax. For those individuals that qualify for such a pension, a QROPS plan can provide greater flexibility, improved tax efficiency, and a wider choice of investment for retirement planning.
The Vantage QROPS Pension is written under a deed of trust subject to Jersey law and is available to Jersey residents only. It has tax approval from the Jersey Comptroller of Income Tax and is recognised by HMRC as a QROPS.