Offshore bonds work in tandem with pensions

Sweeping changes of the UK pension regime which came into force on 6 April (A-Day) have opened up a number of opportunities for the offshore market, according to Andrew Tully, marketing technical manager at Standard Life and a spokesperson for the Association of International Life Offices. He said while offshore bonds were not a pension alternative in their entirety, they provided an invaluable tool for retirement planning by working in tandem with a UK pension. "The aim of A-Day was to simplify the pension regime and move eight existing tax tiers into one, making it much more flexible...