International Savings Plans (ISP) were
introduced into Jersey law on 6th December 2018 pursuant to the
Finance (2019 Budget) (Jersey) Law 2018 which inserted article 118D
into the Income Tax (Jersey) Law 1961 (as amended). ISPs are an
innovation of Jersey designed to enable multi-national and
international companies to establish savings plans providing
benefits to employees resident outside of Jersey. This might
include a pay-out upon the end of employment or ill health.
Depending on requirements, an ISP can provide either an alternative
to or complement traditional benefits such as a pension scheme.
The Purpose of ISPs
Employee benefits are part of attracting and retaining
employees. Businesses traditionally offer a contributory pension
scheme, medical insurance, death-in-service insurance, bonuses and
possibly a share or share option plan. However, more businesses are
introducing shorter term benefits to accommodate specific
requirements for both the business and
