Fairbairn Trust Company has launched a Guernsey-domiciled QROPS.
The scheme has been developed in the wake of amendments to Guernsey’s QROPS regulations.
The changes followed negotiations with the UK’s HMRC to ensure overseas pensions in the island retained ‘approved’ status. For this reason, Fairbairn Trust describes
its Overseas Pension Scheme, as a ‘second-generation’ QROPS.
The pension offers investment links to the Transact wrap platform, as well as insurance products and discretionary managers. The firm said it will also only be available through professionally qualified advisers, although how effectively this will be able to be policed internationally remains to be seen.
Nathan Lihou, chief operating officer for Fairbairn Trust (pictured), said the company had been researching the QROPS sector for some time and had consulted with advisers to ensure the product met their needs.
He added the scheme was designed to reassure advisers who have concerns about the probity of some QROPS providers.