The Income Tax (Jersey) Law 1961 allows individuals, who are capable of doing so, to look after their own pension arrangements, giving significant flexibility regarding investment choice and responsibility.
These arrangements are also more commonly known as a Self-Invested Personal Pensions or SIPPs.
The arrangement requires an individual to enter into a ‘contract’ with a purposely formed Jersey holding company into which the individual (known as the ‘Annuitant’) is be able to make payments as either ‘pension contributions’ or ‘pension transfers’ from other approved pension schemes. The holding company can be controlled by the individual, acting in the capacity as company director, to then manage the pension fund investments. To qualify for recognition for tax purposes, the Retirement Annuity Contract must be approved by the Comptroller of Taxes.
Fairway Pension Trustees Limited is able to establish the entire structure, secure approval from the Comptroller of Taxes and also administer the pension holding company.
For further information, please contact us via firstname.lastname@example.org or download our
RAC Guidance Notes PDF