Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Gibraltar QROPS for ‘smaller pension pots’ launched

Global Banking And Finance 1 News

In response to strong market demand from individuals with pension assets of less than £75,000, Castle Trust Group has introduced a second Qualifying Recognised Overseas Pension Scheme (QROPS), the Equus Silver Retirement Annuity Trust Scheme registered in and managed from Gibraltar.

Equus Silver has been added by the UK HMRC tax authority to its official list of recognised QROPS, and offers a market low set-up cost of £299 and the same level of annual management fee to appeal to those with smaller pension pots.

Steven Knight, Castle Trust Group Chairman explains: “This new QROPS aims to make the management of pensions as simple and inexpensive as possible without compromising on investment choice.” Equus Silver provides maximum flexibility,offering over 1000 funds in seven currencies.

“It will particularly benefit the many people who have lower value portfolios that otherwise would adversely suffer from high minimum professional charges on the management of their pension. At this level, Equus Silver is directly comparable with the cost of providing a UK SIPP”, he said.

A number of investment bonds, particularly suitable for pension portfolios of this level, can be utilised, including those issued by Skandia, Royal London 360, Generali and Friends Provident International, maintains Castle Trust.

Castle Trust’s initial Equus Retirement Annuity Trust Scheme, launched in 2009, is one of Gibraltar’s oldest HMRC listed QROPS.

Knight, who is also chairman of the Gibraltar Association of Pension Fund Administrators (GAPFA), remarks: “Our members have seen strong demand across the board for QROPS managed from Gibraltar, which gives the certainty of a low 2.5 per cent tax rate and a pragmatic approach to determining fair distribution levels using bespoke actuarial input.

Gibraltar QROPS for ‘smaller pension pots’ launched continued…

“Gibraltar-based QROPS offer a powerful proposition. The whole of the Gibraltar pensions sector aims to ensure its reputation is retained at the highest level internationally,” Knight adds.

Issued by Castle Trust & Management Services Limited
on behalf of the Castle Trust Group
Company No 46030—Regulated and authorised by the Gibraltar Financial Services Commission
(FSC) No 00229B

932 Europort, Gibraltar
Tel: +350 200 40466.Fax: +350 200 43370. email: [email protected]
www.castletrustgroup.com

 

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post