Superyacht Corporate Pension Plans
What is the International Pension Plan?
It is a flexible and more budget-friendly pension planning option that is well suited to the retirement needs of marine industry employees, in particular for superyachts. This type of plan is also called a money purchase arrangement, which means that all the contributions paid into the Plan are allocated to individual members and are credited to an account for each member. The money allocated to each member’s account is invested by the Trustee and will, for example, be used to purchase units in the investment fund/s on offer. When units are sold the proceeds of the sale of those units (including any gains or losses) are paid into the members account or re-invested. When a member retires from the marine industry the value of the funds held in this account will form the basis for calculation of their pension.
Key features of the plan
- Cost effective corporate international pension plan for seafarers
- Available in GBP, EUR and USD
- Online access, to all plan information including valuations, contribution details and factsheets
- Ability for employees to increase their pension contributions in addition to the employer contributions via payroll
- Flexible options at retirement
- Access from members 50th birthday
- Provision of residual accumulated funds to the member’s dependents on their death
- Access to professional investment management services and investment funds
- Transferrable plan upon termination of service.
