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OFFSHORE SAVINGS
PLAN FEATURES |
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Offshore savings plans offer a
flexible way for expatriates to save for
the retirement
because of
the following features.
The plans move with you
Offshore savings plans go with you
wherever you choose to live and work and
allow you to continue to contribute to
your plan so your pension planning
doesn't need to be put on hold.
Multi purpose
You can use offshore
savings
plans to
save for more than one reason for
example you could combine your pension
and children’s education savings.
Contribution flexibility
Offshore
savings
plans provide the
flexibility to take contribution
holidays or reduce premiums subject to
the terms and conditions and allow you
to increase your premiums and add lump
sums. You can make monthly, quarterly,
six monthly or annual contributions by
bank standing order, visa and master
card.
Investment flexibility
Offshore
savings
plans offer a wide
range of funds and provide the freedom
to easily switch between funds giving
you the ability to tailor your fund
selection to suit your ongoing savings
requirements and attitude to risk. The
investment flexibility also enables you
as you near your chosen retirement date
to switch to low risk fund options to
preserve gains.
Withdrawals
Offshore
savings
plans allow you to make
partial withdraws and withdraw the full
amount as a lump sum when you retire.
Security
Offshore
savings
plans provide a high
level of client protection and
confidentiality because your plan will
be established in a highly regulated
offshore centre.
Tax
Offshore
savings
plan funds enjoy tax
free growth and any growth in your
investments will be added to your plan
without any deduction of tax (with some
exceptions in jurisdictions where
withholding taxes imposed on dividends
are not recoverable). You will also
receive the proceeds of your plan, or
any partial withdrawals, without the
deduction of tax by the offshore
company.
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