What benefits does a Section 615 International Retirement Benefit Scheme offer?
For the Employee
A Section 615 International Retirement Benefit Scheme offers for the first time, the following unrivaled combination of benefits:
* There is usually no tax liability to the employee.
* There are not usually any social security costs for the employer or employee.
* Pension rights may be taken entirely as a cash sum.
* 100% cash commutation by UK tax residents is tax-free.
* A minimum retirement age of 55, or earlier on leaving service.
* Individuals can select their own investment profile.
* Funds grow in a tax efficient, confidential environment.
* Employee contributions are permissible.
* Inheritance tax efficient.
* Continuity of pension contributions despite international relocation.
* Fund administration may be conducted by a number of sources.
* Generous contribution levels permitted by the Pension Scheme Office.
Most importantly of all, a section 615 International Retirement Benefit Scheme allows individuals to control and manage their exposure to local taxation and social security on their total remuneration package. |