The Pensioneer Trustee Company (Guernsey) Limited

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QNUPS (Qualifying Non-UK Pension Scheme)

January 10, 2013

A Qualifying Non-UK Pension Scheme (QNUPS) is a retirement planning vehicle that offers flexibility and the potential for substantial growth in order to provide for both your future and that of your family.

A QNUPS is an unapproved non-UK pension scheme. This does not mean that QNUPS are not recognised by HMRC; they are in fact defined by UK legislation and a UK taxation treatment of these schemes has been set out by law. Unapproved instead means that the usual taxation benefits attached to approved pension schemes are not in place. For example, contributions to approved UK pensions are subject to tax relief while contributions to QNUPS are not. The positive side to being unapproved (and the side that would make someone interested in investing in a QNUPS) is that there are no limits on the contributions that can be made, and very little limitation on what investments the QNUPS can make.

A QNUPS is able to invest in residential and commercial property both in the UK and overseas, shares in unquoted and personal companies, classic cars, or any other asset that the trustees feel offers suitable investment potential. This represents the real benefit of a QNUPS; when compared with an approved pension scheme making restricted investments with limited funds, a QNUPS allows a sophisticated investor the chance to produce substantially greater returns.

A QNUPS also offers an investor the chance to contribute directly to the growth of their own pension fund. Since a QNUPS can invest in private trading companies, it could acquire shares in a beneficiary’s private trading company, meaning that any growth in value of the company and any dividend payments relating to those shares would directly benefit the pension fund. Many people feel that they will be able to outperform a broad portfolio of shares of the type in which standard pensions might invest. The transfer of shares to the QNUPS should allow post-corporation tax profits to be paid to the QNUPS without additional tax allowing you to use those profits to grow your retirement fund.

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The Pensioneer Trustee Company (Guernsey) Limited is licensed by the Guernsey Financial Services Commission under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 and subject to The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No.2) 2017.