A look at Section 615 schemes, which provide retirement
benefits for employees of UK companies working abroad.
Section 615(6) Trust schemes are UK-based retirement benefits
schemes established under trust law for the purpose of providing
bona fide retirement benefits for employees of UK companies working
overseas. They are not approved pension schemes, so they do not
attract exactly the same tax status as approved schemes –
but this does not make them any less attractive. They do however
have to be established for the sole purpose of providing
superannuation benefits.
Section 615 schemes can be set up easily and both the employer
and employee can contribute. The level of contributions is not
capped and it is possible for employees to contribute through
salary sacrifice which may mitigate tax and social security in the
country they are working in. Money invested grows tax free, is
outside the employee's estate for IHT and beneficiaries can be
nominated. The
