Jersey Self Invested Pension Plan Advice (JSIPP)
This structure effectively gives a much greater level of control over your pension fund, by establishing a company, a JSIPP can be established which can reduce income for tax purposes, currently premiums payable are deductible from a persons taxable income. Income received by the company is tax-free, the expenses incurred are transparent and known by the individual. There is the ability to transfer pensions from other providers into the pension fund. The pension is totally portable, in that it is not tied to any one provider.
Pegasus expert and qualified advisers can offer both individuals and companies independent JSIPP advice and how best to establish these ever more popular arrangements.
Retirement Annuity Trust Scheme Advice (RATS)
A RAT Scheme is suitable for either Self-employed, fee orientated professionals or Employees in Company Pension Schemes who wish to contribute more to a personal pension. The Scheme is ideal for those people who wish to invest either a significant lump sum, or regular contributions (subject to limits set by the Jersey Income Tax Law). You can transfer funds from previous registered pension arrangements, and you have the freedom to control the investments within your own fund. The RAT scheme offers an alternative to the restriction of investment decisions provided by insurance companies, and offers greater flexibility in the way you receive your benefit after retirement as you can either purchase a lifetime annuity, you can transfer your fund into an Approved Drawdown Contract, or you can receive an annuity equivalent from your pension fund paid as an income from the Trustees.
People now realise they can have a much greater involvement in planning for retirement without the need to involve insurance companies. Pegasus advise on the whole process, from establishment to fund selection and ongoing monitoring.
Please contact Pegasus Financial Services for independent RATS advice.