53 Finance Monthly. Bank i ng & F i nanc i a l Se r v i ce s when plans are written under contract as they understand the contract law framework, whereas trust law can cause difficulties such as adverse taxation to members, which often is avoided when written under contract. We have, as a result, developed several very popular employerbased pension solutions that meet the compulsory criteria while giving employers and employees the flexibility that has proved popular over the years. When people look to establish a pension plan for either themselves (personal arrangement) or a company it is important to consider several factors. These include: • Where you live and the countries in which you pay tax, as this can influence the type of structure you should use - for example, trust or contract. • Is the jurisdiction politically and financially stable? In other words, when you retire will your funds still be there? • Is there a good system of regulation and a system for independent review of a pension provider’s behaviour? For example, Guernsey has a financial services ombudsman that covers pension arrangements. • Has the jurisdiction got a choice of service providers and a long history of providing pension arrangements both domestically and internationally? • Do you want a formal regulated pension arrangement or a more flexible non-regulated arrangement? Guernsey offers both types of solutions under its tax law. All the above factors are important for people wishing to establish a pension arrangement. Unlike other financial planning needs, a pension is a long-term arrangement. You want the arrangement to be flexible enough to be with you in the early years, as you accumulate the funds in the plan, but also in the retirement years, as your goals and often the location of where you live will change. It can be costly to have to keep changing product or provider as fees inevitably will apply. This is one of the reasons Guernsey is often chosen. Guernsey plans are flexible to allow you to move around the world and live in different places while keeping the same arrangement. UAP & Concept Group are well placed to provide these pension services. Concept Group was established in 2003 and has more than 50 professionals. We have pension arrangements for employers and individuals that are portable and frequently written under contract, although trust arrangements do work well in certain circumstances. Concept has extensive multijurisdictional experience in pensions and other financial service areas. The company has a diverse Board of Directors who have more than 40 years of international pension and finance experience. “Guernsey has a long-standing and excellent reputation internationally for its regulation, stability and expertise in financial services and especially pensions.” Visit www.cgl.gg for more information
RkJQdWJsaXNoZXIy Mjk3Mzkz