Anglo Irish Launches New International Pension For Executives

by Carla Johnson, Investors Offshore.com

02 February 2005

Anglo Irish Pensions (AIP) has launched an International Corporate Pension Plan and an International Personal Pension Plan designed for international executives and companies with multinational operations and workforces.

AIP, the pensions arm of Anglo Irish Trust Company Limited, an Isle of Man based subsidiary of the Anglo Irish Bank Group, says that the scheme involves many benefits, whilst restrictions have been kept to a minimum.

For example, there is no vesting period, no requirement to purchase an annuity, and pension plan members do not have to invest in funds owned or controlled by the Anglo Irish Bank Group. Also, clients benefit as the trustees enjoy the flexibility to choose the most suitable bespoke investment portfolio to suit their needs.

The scheme is regulated by the Isle of Man Government's Insurance and Pensions Authority and the firm explained that assets of an AIP International Corporate Pension (ICP) or International Personal Pension (IPP) are held under trust, outside the legal jurisdiction and control of the employing company, and are therefore unaffected by its long-term financial circumstances.

Tax neutrality is also assured, as the pension fund does not attract Isle of Man taxation. Plan members are only liable for those charges applied in the jurisdiction they choose for retirement.

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