South African International Pension Plan

Transcription

1 South African International Pension Plan

2 Welcome to Optimus Optimus offers personalised financial services which include a range of offshore corporate, trust, pension and bespoke global solutions from the Isle of Man. Our staff of over 50 encompass an ideal blend of professionals whose collective desire is to provide a boutique service to our clients globally. With over 1.5 billion of assets under management, we proactively manage the day to day administration of each structure to ensure that client needs are met and exceeded wherever possible. Our mission is simple: To be renowned for our excellent service through the use of a range of innovative approaches and solutions that appeal to entrepreneurial private clients and their advisors. To achieve this we utilise our extensive network of professional advisers and intermediaries to ensure your requirements are enhanced and expertly delivered. Welcome to Optimus South Africa Pension Plan The Optimus (SA) Master Pension Plan ( OSAPP ) is the standard bearer in the delivery of taxfavoured, cost-efficient retirement savings for South African residents. It has been designed to incorporate highly flexible investment and benefit features which can be tailored to how you want to accumulate and spend your retirement funds. You have the peace of mind of dealing with a market-leading fiduciary specialist operating from one of the world s most reputable and well-regulated international financial centres, the Isle of Man.

3 Your investment options The Trustee has made a diverse range of investment options available so that you, in conjunction with your financial adviser, can select an investment strategy tailored for your own risk profile and retirement planning objectives. We understand flexibility is key and therefore it allows alterations for monthly investment profiles, redirection of the investment of future contributions, changing the allocation of existing holdings or switching existing investment holdings to new holdings from the list of OSAPP s available investment options. You will receive regular valuations of your investments so that you and your adviser are always able to monitor and review the investments. Contributions structured to suit you Isle of Man pension rules governing OSAPP contain no limits on how much and how often you can make contributions. Exchange controls represent the only upper restriction and, indeed, OSAPP is an ideal vehicle through which to utilise the foreign investment allowance, currently R10 million per annum. You can pay in one lump sum at the outset, ad hoc lump sums over time or make regular contributions over a specified period on a monthly, quarterly or annual basis. The minimum contribution for personal pension plans are: R900,000 initial lump sums R90,000 ad hoc lump sums If you are paying on a regular basis you can alter the value of your contributions (subject to the minimum) at any time, stop or even suspend them if required. For corporate contribution parameters please contact us for more information. Contributions can be made in cash or, if you have assets situated outside South Africa, these can be contributed in specie (and do not count towards you foreign investment allowance). Simple and efficient tax treatment Benefits include: No donations tax on contributions Tax free growth Tax free return of contributions Wide investment powers Flexibility on the level or frequency of contributions (subject to exchange controls) Ability to accept contributions from family trusts Employer and employee or both can contribute Drawdown available from 50 Multi-currency investment opportunities Competitive and transparent charges We believe our charging structure is highly competitive and great value for money. A safe and secure investment Enhanced flexibility does not compromise stability and security when it comes to your pension. The Trustee & Administrator of the Scheme is Optimus Pension Administrators Limited ( OPAL ) a company registered in the Isle of Man, one of the most financially secure and reputable international financial services centres in the world. The Isle of Man has a robust legislative framework specifically focussed on international retirement benefit schemes. The Isle of Man Financial Services Authority ( FSA ) supervises and enforces the rules within a two-tiered system. OPAL s directors, management and business operations must undergo strict fit and proper tests to meet this standard and the pension is also regulated in its own right as a personal pension scheme which requires to submit regular reports to the FSA and undergo an independent audit annually. Very few jurisdictions around the world can offer such flexible products from such a well supervised environment.

4 Why the Isle of Man Recognised and reputable international finance centre Economically stable with 30 years growth Tax neutral jurisdiction Highest level of corporate governance Appearing on the white list from the OECD Scheme approved and regulated by Isle of Man Financial Services Authority Contact us For further information about OSAPP please contact a member of our team: Martin Hall - Director of Pensions martin@ofl.co.im Brent Thomas - Director brent@ofl.co.im Dave Thomas - Head of Pensions dave@ofl.co.im Professional Associations Optimus Pension Administrators Limited (123804C) is registered licensed by the Isle of Man Financial Services Authority. Registered Office: St Mary s, The Parade, Castletown, Isle of Man, IM9 1LG

5 St Mary s, The Parade, Castletown, Isle of Man IM9 1LG We believe that everything in this brochure is correct at the time of release - October The information within this brochure should not be taken as professional advice.