IS&P Funds
Global Pensions Group Retirement Funds are simple, flexible and effective employer-sponsored retirement arrangements for globally mobile executives.
They also allow the executive’s world-wide assets to be consolidated into one structure prior to entering a host country. The assets are accumulated outside of the host country without the burden of host country regulations, restrictions and taxation. And they can also provide creditor asset protection and excellent estate planning opportunities.
They are suitable for executives who are planning to move to a new country to work or live (either temporarily or permanently). They are also suitable for citizens of one country planning to return home after a period of time overseas.
Fund members can either be currently employed or self-employed. For further convenience, existing employer-sponsored retirement accumulations can be rolled-over into an IS&P Fund. (International Superannuation and Pension Funds)
They are designed to provide for retirement. This might mean:
- Reaching retirement age
- Retiring from gainful employment
- Ceasing employment with the sponsoring employer
- Death or permanent disability
They can be effective for residents all over the world. Please contact us to discuss your host country and the benefits we can offer you.
Trustees
The Trustees are the legal owners of the assets of the IS&P Funds (International Superannuation and Pension Funds) which are subject to management. The trustees undertake all the contractual obligations of the client's sub funds.
The Global Pensions Group appoints a trustee under contract in the relevant jurisdiction to handle the individual affairs of our clients. Of course this means we work with a group of trustees who are all substantial companies with long histories in the industry. Obviously, our trustees are an important factor in our business and we therefore work with trusted names.
Types of membership
There are two distinct classes of membership.
1. Allocated Class – each member has a defined interest or entitlement in the assets (and related earnings) contributed to the IS&P Fund on their behalf, either by an employer or by the member themselves.
2. Discretionary (unallocated) Class – each member only has a right to be considered as having an interest or entitlement in the assets (and related earnings) contributed to the IS&P Fund by an employer. Members do not have a defined interest or entitlement in the IS&P Fund. This can be useful if the member is currently living in a country where estate duty is levied.
Contributions
They can accept contributions both from sponsoring employers and from employees/members. Member contributions can only be made by a member who is an Allocated Class member (see above).
Fund Pay Outs
Funds can pay out using a Lump Sum Payment Method (one or more irregular payments at irregular intervals) or Pension Payment Method (consistent periodic payments).
Asset Types and Asset Management
Funds can accept any investment grade asset with the approval of the Trustee, possible assets can include:
- Stocks
- Bonds
- Deposits
- Life policies
- Private equity
- Real and other property
- Options
Global Pensions Group currently manages assets in the following categories:
- Stocks, bonds and deposits – held directly and managed by an existing or approved fund manager
- Life policies – held directly
- Private equity – held indirectly through a separate wholly owned offshore company
- Real and other property – held indirectly through a separate wholly owned offshore company
- Options in public stocks – held directly and placed in the custody of a fund manger once exercised
- Options in private equity – held indirectly through a separate wholly owned offshore company
- Artwork – held indirectly through a separate wholly owned offshore company
- Other – upon submission
Should you require a specific type of asset and resulting specific asset management experience in the fund, we can appoint an independent investment advisor.
In addition, specific investment requests must be approved by the Investment Committee via the investment request process. The Investment Committee comprises the representative from each of the Trustees and Global Pensions Group and an additional specialist W. John Charman.
Reporting
Funds report on both a quarterly and annual basis. At year end, an annual set of accounts is reported. These accounts may be audited by request, at the employer or member’s expense.
Funds Available
You can choose to become a member of one or more of the following funds:
