TMF Group reaffirms its commitment to the International Pensions
market and Malta, by returning its pension business to a 100% owned
TMF Group, a leading provider of global business services, has
reaffirmed its commitment to the International Pensions market and
Malta, by returning its pension business to a 100% owned
subsidiary; TMF International Pensions.
Previously TMF Group and Custom House Global Fund Services Ltd
had been jointly running international pensions schemes from Malta
with Custom House operating, and being licensed by the Maltese
Regulator as the Corporate Trustee. Now the international pensions
business has been brought back solely under the TMF umbrella and
TMF Group has received a license from the Maltese Regulator to
operate the schemes.
Bethell Codrington, Global Head of Pensions at TMF
Group, commented: "This is a wonderful boost for our
pension fund business. Knowing that we are part of the largest
Trustee and Corporate Service provider globally, will give added
comfort to our clients and their intermediaries in the service that
we provide them. With smaller SIIP providers in the UK going out of
business and some international pension providers struggling to be
financially viable, the backing of a multi-million euro parent is
something more clients and advisers are looking for."
TMF International Pensions in Malta provides ROPS (Recognised
Overseas Pension Schemes), QNUPS (Qualifying non-UK Pension
Schemes), IORPS (Institutions for Occupational Retirement
Provision-EU) and other Employer Sponsored arrangements.
Bethell continued: "TMF International Pensions is well
established at the top end of the ROPS market and Malta, being a
full member of the European Union, has been the 'jurisdiction
of choice' for most advisers because of its well-regulated and
secure financial environment."
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The Turks and Caicos Islands ("TCI") are a British Overseas Territory. The territory's legal system is based on English common law supplemented by local statutes.
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