We provide pension consultancy, trustee and administration services to corporations and individuals seeking independent advice and/or management of retirement and employee benefit schemes, particularly in the United Kingdom, Isle of Man, Gibraltar, Hong Kong and Bermuda.
Retirement benefit schemes are designed, documented and established by us to meet the exact needs of the client and the particular requirements of the controlling authorities in the chosen country or jurisdiction.
Our pension consultancy team has considerable expertise in assessing the value and suitability of transferring accumulated pension benefits between jurisdictions internationally, in obtaining official authorization and in implementing arrangements cost and tax efficiently.
Individuals moving to take up employment or retire overseas and international firms who provide employee benefits and set up overseas offices can usually benefit from the up-to-date pension law and practice knowledge ECS can provide.
Being neither brokers nor investment advisers or managers the professional services we provide are impartial and the clients' best interests are never compromised.
The ever increasing encouragement and benign concessions by Governments plus the mobility of workers universally gives retirement benefit consideration major importance in both personal and corporate financial planning.
An individual leaving the UK and taking up an overseas post with a new foreign employer will have to withdraw from his former UK pension scheme and his pension rights will be frozen in most cases.
If the individual emigrates after his Normal Retirement Date on pension, he will be liable to UK Income Tax at marginal rates on his pension unless he retires to a country which has a Double Tax Treaty with the UK. In this position, on application his pension can be paid gross from the UK but he will be subject to local taxes.
In each of these circumstances the setting up of an offshore pension scheme before taking ones pension at Normal Retirement Date will provide significant tax saving advantages.
ECS International is licensed by the Gibraltar Financial Services Commission - Licence No: FSC00094B
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.