International Pension Plans In Bermuda

With its enviable reputation in offshore trusts, pensions and insurance, Bermuda is an ideal jurisdiction for employers wishing to establish international pension and employee benefit plans (IPPs).

Global organisations may consider establishing Bermuda IPPs for employees who work outside their home country or the home country of both the employees and employer. Advice should be obtained in the relevant home country jurisdictions prior to establishing a Bermuda IPP.

THE ADVANTAGES OF BERMUDA IPPS MAY INCLUDE:

• Less regulation of unregistered IPPs in Bermuda or IPPs registered under the Pension Trust Funds Act 1966 (PTFA) when compared to pension plans subject to home country regulations (for example, the Employee Retirement Income Security Act of 1974 (ERISA) in the United States and the Pension Act 1995 and Occupational Pension Schemes (Investment) Regulations 2005 in the United Kingdom).