south african pensions Guernsey - The jurisdiction of choice
50 YEARS
ALMOST 100 PENSION PROVIDERS
THE GLOBAL PENSIONS SPECIALIST
A growing pool of pension firms has provided the breadth and depth of experienced professionals in pensions provision.
The jurisdiction is an established centre of excellence for international pensions and savings plans.
PENSION SCHEME RULES
A POPULAR JURISDICITON
In 2021 Guernsey became one of the first jurisdictions in the world to regulate pension providers.
In 2017 Guernsey became one of the few jurisdictions to introduce pension scheme rules, further enhancing member protection.
The island is the base for many retirement and employee savings plans for major multinational corporations.
SAFETY AND SECURITY
PRIVY COUNCIL ACCESS
A FORCE FOR GLOBAL GOOD
The island is politically and economically safe and secure, with 800 years of constitutional autonomy outside of the UK and EU.
The island has a right of appeal at the UK’s Privy Council, which sets it apart from many of its competitor jurisdictions
Guernsey is a leading jurisdiction of green and sustainable finance, and is a founding member of the UN FC4S Europe.
PROXIMITY TO LONDON
A LEADING CENTRE OF SUBSTANCE
FISCAL STRENGTH
A global finance centre with a 50-year tradition of providing specialist pension and savings schemes, both corporate and personal.
GLOBALLY RESPECTED REGULATION
The island is the closest global finance centre to the City of London, operating in the same time zone and with a flight time of one hour.
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Compliant with Moneyval and fully committed to the implementation of FATF and CFT recommendations
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As well as possessing an AA- credit rating by S&P, the island benefits from prudent public spending, bringing long-term financial stability.
Advantages of Guernsey personal pensions: WHY GUERNSEY FOR PERSONAL PENSIONS? Guernsey has a highly evolved pensions industry supported by specific pension legislation and regulation. The island’s income tax act specifically excludes non-resident members. These Retirement Annuity Trust Schemes – known as RATS – enable international retirement plans to make payments to South African citizens, and those who are internationally mobile, without the deduction of Guernsey tax. This means that South African investors’ assets are protected against double taxation, whilst the pension assets are internationalised removing the risk of one’s wealth eroding due to currency depreciation.
Flexible, able to accommodate a range of plan needs.
A 100% lump sum can be withdrawn at retirement.
No contribution limits.
Locating a personal pension in Guernsey provides members with the flexibility to move to another country in the future.
A range of multi-currency investment options.
Members of pensions in Guernsey have the protection of the Ombudsman, with depositor protection on all Guernsey-based bank deposits.
Advantages of the Guernsey 40(o): WHY GUERNSEY FOR OCCUPATIONAL SCHEMES?
Firms can take advantage of having a single, centralised retirement plan for employees in multiple locations.
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Significantly lowers operational risk.
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Reduces the number of counterparties and therefore the bureaucracy involved.
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Guernsey’s 40(o) pension plan is a well-trodden path to South African-based firms providing pensions for their international workforce, and for non-South African companies who have employees based in South Africa.