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Overview
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Many companies
try to retain expatriates in home country pension
schemes: this may not be permissible (lack of net
relevant earnings) or may incur unexpected tax liabilities.
Additionally home country health insurance is unlikely
to cover the increased risks of working and travelling
internationally. |
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Pension schemes provided
in host countries generally lack international portability,
freedom of investment choice, tax free benefits
and transferability between employers. Hence as
executives move from posting to posting, country
to country, they will end up with fragmented pension
benefits in each country. Domestic schemes often
also impose contributions limits and benefits drawdown
restrictions. Finally in many cases a currency risk
is also present. |
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Selecting the best international
group scheme, whether it be for pension provision
or protection, depends on many varying factors such
as the number of members, breakdown of nationalities,
working locations, contribution levels and flexibility
features required. Our in depth knowledge on a raft
of international group schemes, and our access to
professional tax and legal advice enable us to identify
or construct a scheme best suited to the employers'
requirements. |
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