Rowanmoor warns against Ireland pension scheme moves

The small self-administered scheme (SSAS) provider says IFAs have recommended trustees make the move as Ireland does not require retirees to buy an annuity. They are also allowed to leave the fund to beneficiaries on death, although it will come under Irish inheritance tax (IHT) at 20%. However, trustees can only transfer a pension scheme to Ireland if a genuine trading company where the member works exists in the country. Rowanmoor understands trustees have received offers to establish trading companies, employment contracts and accommodation to UK companies in an attempt to break the ...