What Soteria Retirement Plans offer
Soteria pension plans are designed to help you save money for your retirement so you can live happily and without financial worries after you retire. Our retirement plans are administered under a traditional Trust arrangement or the more modern Contract Basis. Both pension types offer favourable tax treatment compared to other forms of retirement savings.
“Soteria Retirement Plans offer favourable tax treatment compared to other forms of retirement savings.”
Are Soteria Retirement Plans for you?
Our retirement plans are designed around the ever-changing retirement needs of international clients and provide the following features and benefits:
- Available to all nationalities
- Employed and Self Employed
- The plans are administered either by an independent Trustee who holds assets on your behalf or a Protected Cell Company with you as a decision-maker overseeing the administration of pension assets
- Tax-free growth on assets held within the plan
- Regular premium & lump-sum contribution options
- Open architecture with a wide range of asset classes, including property
- Capital gains tax deferral
- No inheritance tax on death (until 2027)
- 100% creditor protection
- Recognition in civil law countries
Retirement Planning for Expats
Soteria retirement plans are available to all nationalities and are located in various jurisdictions, such as Hong Kong and Guernsey.
Contact Soteria Trusts for an initial consultation to see if our Retirement Plans are the right fit for you.
Certain factors will help you (and our advisors) to determine the most appropriate jurisdiction to grow your retirement fund; these are:
- Your nationality
- Your current residency status
- Your intended residency status
- If you are going to contribute existing assets or cash to buy new ones
- Your ideal retirement age
QNUPS - Qualifying Non-UK Pension Scheme Solution
All the Soteria Pension Schemes meet the criteria of being a QNUPS (Qualifying Non-UK Pension Scheme), as stated by Her Majesty's Revenue & Customs (HMRC). They operate from multiple jurisdictions and benefit anyone with UK-sited assets, such as property, investments, art, jewellery, stocks, cash, and wines.
Learn more about the role of QNUPS in IHT Planning from our
Free IHT Planning GuideImportant Update on QNUPS and UK-Registered Pensions Following Budget 2024 Changes
The recently announced changes in the October 2024 budget, effective April 2027, will significantly shift the tax treatment of UK-registered pensions and Qualifying Non-UK Pension Schemes (QNUPS). These changes will directly impact how unused retirement funds are treated upon death and have implications for inheritance tax (IHT) planning.
From April 2027, any unused retirement funds, including those within a QNUPS, will be considered part of an individual’s estate upon death. This change means such funds will now be subject to inheritance tax. This represents a major shift in policy following the earlier abolition of the IHT domicile regime, which has been replaced by the Long-Term Residence (LTR)- based regime.
For those not yet members of a QNUPS, the combined effect of including unused retirement funds in the estate and the move to the LTR-based regime significantly reduces the overall tax efficiency of QNUPS, particularly regarding inheritance tax mitigation. While QNUPS were previously popular for their tax advantages in estate planning, these changes create a more complex landscape, requiring an even greater degree of personalised and strategic planning.
Given these developments, selecting the most appropriate retirement planning solution has become more challenging and subject to changing personal circumstances. It is now more essential than ever to seek specialist advice when considering your retirement options to ensure your planning aligns with the new tax implications and effectively achieves your financial goals.
Planning for retirement is a critical process, and the changes announced in the 2024 budget highlight the importance of working with experts to create a tailored, tax-efficient strategy. If you are affected by these changes or are considering your retirement planning, consult a qualified financial adviser to ensure your plan is optimised for the future.
