Guernsey Pensions

Guernsey is considered to be the leading jurisdiction for offshore pension planning, the Imperium team provides bespoke solutions for both UK resident and International clients who require effective retirement planning.

Offshore and international pensions plans are seen as an increasingly key component in any wealth planning process, these pension offerings can be utilised by individuals as well as corporates looking to provide a centralised pension offering for their employees. With the transient nature of workforces operating across jurisdictions, having one central pension provides advantages to both employer and employee.

QNUPS

Qualifying Non-UK Pension Schemes (QNUPS) were introduced by the UK Government in 2008 as a means to clarify a certain level of uncertainty that had previously surrounded the Inheritance Tax situation with regard to certain overseas pension schemes.

A QNUPS is a multi-member scheme governed by the master trust deed. A sub-fund is established for each individual, is separated from other members’ assets and held for the benefit of the designated member only.

A QNUPS is available to both resident and non-residents of Guernsey and benefits:

• UK inheritance tax mitigation and planning opportunities for UK domiciled and UK non-domiciled on assets held within the scheme;
• No limit on contributions or fund size;
• Member can borrow up to 30% of the fund value;
• Investment flexibility;
• No requirement to purchase an annuity on retirement;
• Efficient estate planning on the death of the member – with no requirement for the purchase of an annuity, assets can be passed to beneficiaries as part of the member’s estate.

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