International Savings Plans (ISPs) are income tax exempt,
flexible, savings plans aimed at benefitting employees of
multinational and international companies.
Participants can benefit from ISPs before the normal minimum
pension age (usually 50 or upwards) upon termination of employment
and other major life events such as ill-health, redundancy or
divorce, amongst others.
ISPs can be established in Jersey from 1 January 2019 and were
designed by the Jersey Pensions Association with the backing of
Jersey Finance.
The Law:
• The Income Tax (Jersey) Law 1961 (the Income Tax Law) was
amended to enact new provisions under Article 118D, providing for
ISPs.
• Much like tax-approved pensions in Jersey, ISPs will be
managed under rules set by the Comptroller of Taxes, through
accompanying guidance notes.
