Group Pension Schemes for International Companies

Companies in Dubai, UAE and similar Tax Havens

  • Employees and Employers in tax-havens pay little or no tax, so get no pension tax relief
  • Generally pension schemes do not exist in these jurisdictions for this reason
    • Yet employers will still generally wish to make pension provision
    • And the employees will also often wish to contribute
  • The answer is to have an International Pension Plan

International Companies with staff who frequently change location

  • Avoid the cost and hassle of running lots of different pensions in different countries
  • Have one scheme that employees staff a member of – whichever location they move to

    Benefits to Employers & Staff

    • There are very valuable tax benefits even though no tax relief is obtained at source
      • The funds / investments grow tax-free
      • There is usually no tax upon encashment
      • There is usually no tax payable upon death (no UK IHT)
      • The fund goes tax-free to your dependents, not an insurance company. if you die
      • 100% tax free cash can probably be taken when retiring or upon leaving the employment or on death
    • Variable retirement age from 50 (in some circumstances earlier) to 75
    • No requirement to ever buy an annuity
      • 100% of the fund can often be taken Tax-Free
    • Complete Self Investment flexibility – including residential property
      • You can allow staff to have any investments, or you can chose an investment range
    • Fully flexible contributions
      • Single, ad-hoc, annual or monthly premiums – whichever suits you best
    • Two types of scheme are available
      • International Group Pension Scheme (like a GPP)
      • International Occupational Pension Scheme (like a CIMP)
      • We will, of course, explain which type is likely to most suitable for you

    History

    • For years those UK Pension Companies which have offshore products, have been peddling high-charged offshore savings plans and pretending that they are offshore pensions.
    • Apart from huge international employers who could afford the cost of setting up an in-house plan from scratch, there was no true international pension arrangement available for companies.
    • The Group International Pension Plan allows all international employers to set up a true international scheme for their employees at an affordable cost.

    Notes for IFAs

    • Each case is unique and Brooklands Pensions will work with you and the client company to produce the optimum solution
    • Full marketing and technical data will be sent to you when you enquire.