RETIREMENT ANNUITY TRUSTS
Alexander Forbes Offshore has created its own Retirement Annuity Trust, called The Jersey Pension Investment Trust (JPIT) for the local market.
The JPIT is a discretionary trust which acts as a self administered private pension plan for individuals resident in Jersey. The JPIT is a flexible pension scheme approved by both Jersey Tax authorities. It is governed by an independent trustee to safeguard your retirement assets.
The JPIT is a structured vehicle for accumulating pension and investment assets and paying out capital and/or income to you, your spouse or estate in the event of your death. It is available to both self employed and employees in a company pension scheme who wish to make additional contributions to a personal pension. Payments can be regular or in the form of a lump sum up to a funding limit of £50,000 in any tax year, subject to your annual relevant earnings.
Transfers from existing plans can be made, but advice should be sought before doing so. The JPIT offers flexibility compared to traditional insurance company schemes through diverse investment options.
Benefits
- Access to prescribed portfolios designed by an independent fund analyst
- Flexible retirement options
- Tax efficient wealth preservation
- Transparent and cost effective charging structure
Who can have the Alexander Forbes JPIT?
- Anybody who lives in Jersey with earned income.
- Anybody who lives (or previously lived) in Jersey and has pension assets in Jersey.
- Any Jersey resident who has UK pension assets may also be eligible.
For further information download The Alexander Forbes Jersey Pension Investment Trust brochure or contact us.