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Retirement Planning Solutions
"Look after your Wealth, so it can look after you"
QNUPs (Qualifying Non-UK Pension Schemes)
Introduced in 2010, QNUPS provide an excellent opportunity to accumulate retirement savings in a flexible and internationally recognised structure.
These schemes allow expats to invest in a wide range of asset classes, including equities, bonds, real estate, mutual funds, and alternative investments.
The primary advantage of QNUPS is their ability to grow investments tax-free until retirement, offering significant tax deferral benefits.
QNUPS are particularly beneficial for those seeking to avoid inheritance tax on their pension assets. Contributions to QNUPS can be made without any lifetime allowance limits, providing a versatile option for high net worth individuals.
Additionally, these schemes offer protection against future changes in tax laws and can be structured to comply with the local laws of the expat’s country of residence.
By diversifying investments across various asset classes, QNUPS help in managing risk and achieving long-term financial goals.
Fortis Wealth Solutions can guide you through the process of setting up a QNUPS, ensuring that your retirement planning aligns with your individual needs and circumstances.
Occupational Retirement Schemes Ordinance (ORSO)
The Occupational Retirement Schemes Ordinance (ORSO) provides a structured framework for retirement benefits in Hong Kong, specifically tailored for expatriate and local employees.
Established in 1993, ORSO schemes are designed by employers to offer pension plans that comply with the regulatory standards set by the Mandatory Provident Fund Schemes Authority (MPFA). These schemes are versatile, allowing employers to set up customized retirement plans that can include defined benefit schemes, defined contribution schemes, or a hybrid of both.
ORSO schemes offer various asset classes for investment, including equities, bonds, mutual funds, and other diversified instruments.
This flexibility allows employers and employees to create robust retirement portfolios that align with their risk tolerance and financial goals. Contributions to ORSO schemes can come from both the employer and the employee, often with significant tax advantages.
For expatriates, ORSO plans provide a reliable way to accumulate retirement savings while taking advantage of Hong Kong’s favorable tax environment.
Fortis Wealth Solutions can help you navigate the complexities of ORSO schemes, ensuring your retirement plan is optimized for your unique circumstances and long-term objectives.
QROPS (Qualifying Recognised Overseas Pension Schemes)
Recognized by HM Revenue and Customs (HMRC), QROPS allow individuals to transfer their UK pension funds to an overseas scheme that meets specific criteria.
This transfer can offer significant advantages, including potential tax savings, the ability to consolidate multiple pensions, and more flexibility in terms of investment choices and currency options.
QROPS permit investment in a broad range of asset classes, such as equities, bonds, mutual funds, property, and other diversified instruments. This flexibility enables expats to tailor their investment strategy to match their risk tolerance and financial objectives.
Additionally, QROPS can provide benefits such as avoiding UK inheritance tax on pension assets and reducing currency risk by holding investments in the local currency of the expat's country of residence.
Fortis Wealth Solutions specializes in guiding clients through the QROPS process, ensuring that their pension transfer is compliant with HMRC regulations and optimally structured to support their long-term retirement goals.
International SIPPS (Self Invested Personal Pension)
International Self-Invested Personal Pensions (SIPPs) offer expatriates a highly flexible and tax-efficient way to manage their UK pension savings while living abroad.
These personal pension schemes are designed for individuals who want to have greater control over their retirement savings, with the ability to choose from a wide range of investments.
International SIPPs allow expats to invest in equities, bonds, mutual funds, exchange-traded funds (ETFs), and even commercial property, tailoring their portfolios to match their risk tolerance and financial goals.
One of the key advantages of International SIPPs is their tax efficiency. Contributions to these plans can benefit from tax relief, and investment growth is typically tax-deferred.
Additionally, SIPPs offer flexibility in terms of currency options, which helps mitigate currency risk for expatriates living in different countries. By consolidating multiple pension plans into a single International SIPP, expats can streamline their retirement savings and benefit from simplified management and potentially lower fees.
Fortis Wealth Solutions can help you navigate the complexities of setting up and managing an International SIPP, ensuring that your retirement planning is aligned with your long-term objectives and compliant with regulatory requirements.
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