Pension Plans

Product overview

Our pension plans offer a range of solutions for clients wishing to plan for retirement. This can be achieved by making regular contributions to a new plan or, for clients with an existing UK frozen pension scheme, the ability to transfer and gain control of the pension pot.

Prestige regular contribution pension plans are offered through a British Virgin Islands Trust structure (Premier Trust) which provides asset protection, privacy and tax exemption on capital gains and estate planning advantages.  Premier Trust invests the net proceeds according to the investment directions given to the Trustee.  Accumulated savings are held in safe custody by the Union Bank of Switzerland (UBS) which has its headquarters in Switzerland and a presence in all major financial centres around the world.

For clients with an existing UK pension scheme we provide a range of solutions specifically designed to accept transfers from a UK registered pension scheme.  Individuals should obtain independent pension advice.

There are two main pension transfers options available. A Self Invested Pension Plan (SIPP) which is a UK Pension Scheme and a Recognised Overseas Pension Scheme (QROPS) which is an HM Revenue and Customs (HMRC) recognised pension transfer scheme based in a jurisdiction outside the UK which has equivalent standards to a UK pension.

Anyone who has ever been a member of a UK occupational pension scheme and now lives overseas, or is planning to leave the UK, can transfer their pension provisions into a SIPP or QROPS over which there is greater control and significantly improved benefits.

Key benefits of transferring a pension with PIMS

  • Consolidation of several UK pensions into one
  • Investment flexibility including private assets, offshore funds and stocks and bonds
  • Taking up to 30% of the pension fund as a tax-free lump sum
  • Possibility to allay UK income tax up to 45%
  • No inheritance tax liability after living outside the UK for five years
  • Avoid having to take an annuity
  • Pass on the pension to loved ones
  • Range of currency options

British expatriates are not the only people who can take advantage of these benefits. What is available can vary according to the country of residence, intended country of retirement, the scheme rules, marital status, how individuals and their beneficiaries take income/lump sums and how the tax rules work between the countries involved and the UK.  Individuals should obtain independent pension advice.

Prestige Provest Principal Protection is a medium to long-term, regular contribution plan with access to Stock Market investments and a series of minimum Principal Protected options at 10, 15, 20 and 25 year maturity dates.

  • A regular contribution plan offering a unique range of benefits
  • Principal Protection*
      • 125% of Contributions (year 10)
      • 140% of Contributions (year 15)
      • 150% of Contributions (year 20)
      • 160% of Contributions (year 25)
  • Annual returns linked to internationally recognised Stock Market indices
  • Selection of up to five equity indices for maximum diversification across the globe
  • Plans can be surrendered for full value at any time between 15 and 25 years*
  • Fixed term 10-year plan also available
  • Flexible premium payment methods: monthly, quarterly, half yearly, annually and the option to pay all plan contributions in advance
  • May be suitable for those saving for retirement
  • Plans can be denominated in USD, GBP or EUR
  • Loyalty bonuses* to help savings grow more quickly
  • Extra allocation bonuses to boost savings

* Subject to Terms and Conditions – please refer to the Premier Trust Brochure

  • Product Profile – Provest Principal Protection 25  (15 to 25-year term)*
  • Product Profile – Provest Principal Protection 10  (fixed 10-year term)

Prestige Provest Global Funds plan is a medium to long-term regular contribution programme which offers potential for growth while allowing adjustment to the investments to maximise investment opportunities and plan for life’s changing needs.

  • Wide choice of global investment funds allows flexibility to create a portfolio to match the risk profile
  • Access to leading fund managers:
    • Prestige Funds
    • Blackrock
    • Franklin Templeton
    • Investec
    • Morgan Stanley
    • MFS Meridian
    • State Street Global
    • Legg Mason
    • Alliance Bernstein
    • Invesco
    • Vanguard
    • Wisdom Tree
    • Shariah compliant funds
  • Online access with fund switching capability
  • Selection of up to five investment funds
  • Loyalty bonuses* to help savings grow more quickly
  • Extra allocation bonuses to boost savings
  • May be suitable for those saving for retirement
  • Low minimum investment
  • Flexible contributions

* Subject to terms and conditions, please refer to the Premier Trust Brochure

Product Profile