Retirement Planning

Retirement Trust Scheme

A Retirement Trust Scheme (RTS) is a personal pension fund held under trust by JFSC regulated Corporate Trustees.  The objective is to enable individuals to save for their retirement in a flexible and cost effective manner.

It can accept transfers from existing or previous pension schemes, including QROPS* transfers from UK pensions, and can be funded through contributions from the individual, their employer or a combination of both.

The main difference between a more traditional and insured personal pension and a RTS is that there is no compulsory requirement to purchase an insurance company annuity at retirement. Instead, the trustees can pay you an Annuity Equivalent from your pension fund.

You also have a greater flexibility of investment strategy and investment manager.

Personal Pension

Personal Pensions have previously been offered by Insurance companies and are known as defined contribution or money purchase schemes. They are no longer available to Jersey residents. However, if you do have a personal pension and would like us to discuss the options with you, please contact us.

Personal Annuities

One of the options at retirement is to buy an annuity.  An Annuity is an insurance product which converts your pension savings into a regular pension, giving you a guaranteed income for life specified period. There are different types of annuities depending on the type of pension income you require with various ancillary benefits available to suit your personal situation.

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