Scottish Equitable International (SEI) this week launched a new offshore plan, which it claims could work as an alternative retirement savings tool for investors who will exceed the coming lifetime limit.
The Dublin-baed Flexible Investment Plan (FIP) is the first regular savings contract launched by the firm. Main benefits are the plan’s flexibility, where clients can make either regular or one-off contributions or withdrawals at any time, and its tax efficiency, SEI says. SEI believes the FIP targets five potential markets -including people who will hit the £1.5m lifetime allowance on pension contributions and are looking for a tax-efficient way of saving when when new legislation takes effect in April 2006. People working abroad or planning to retire outside the UK could benefit...
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