Pensions – The Offshore Option

Originally published in Ardel Newsletter, August 2011.

Martyn Russell, Director at Ardel Trust in Guernsey, looks at how QNUPS can potentially provide the most tax efficient and flexible solution for a UK resident and/or domiciled individual.

Pensions never seem far from the headlines nowadays, whether it's relating to closures of corporate schemes, public sector strikes, changing the age of retirement or the amendments to tax treatment of existing arrangements by HMRC.

The pension arena is a highly specialist and complex field and Guernsey continues to be recognised as one of the leading jurisdictions for international pension provision. The island's reputable trust sector administers a range of offshore structures, both corporate and individual, from EFRBS to QROPS and the more recently introduced QNUPS.