The Jubilee Personal Pension Plan

The EFPG Jubilee Personal Pension Plan Scheme is a local Gibraltar-based personal pension scheme which is administered by European Financial Planning Group Limited who also acts as the Scheme Trustees. It is a personal pension scheme which has the objective of providing retirement benefits for members. All assets within your personal pension plan are held under irrevocable trust for your exclusive benefit.

Key features and benefits

• The Scheme is a Gibraltar tax approved personal pension plan scheme and as such is able to accept regular and single contributions from individuals with Gibraltar net relevant earnings subject, for tax relief purposes, to those contributions being made with the approval of, and within limits set by, the Commissioner of Income Tax in Gibraltar.
• The minimum monthly contribution is £100. There is no set minimum single or lump sum contribution amount for the Scheme, and the minimum amount accepted by the Trustees will depend on individual circumstances. Acceptance is always at the sole discretion of the Trustees.
• There is no upper limit on contributions made by individuals with Gibraltar net relevant earnings, although contributions allowable for tax relief must be within limits set by the Commissioner of Income Tax in Gibraltar. Otherwise there is no maximum allowable contribution amount, however contributions must, at the Trustees sole discretion, be deemed proportionate to the individual's financial circumstances and pension provision.
• Access to retirement benefits from age 55. Unless otherwise agreed with the trustee, commencement of income drawdown must be before age 75 or any other maximum age allowed by Gibraltar regulations.
• Pension benefits can be paid from age 55 in the form of: a lump sum payment; a regular income drawn directly from the fund subject to this being a maximum amount determined by the Trustees; a combination of the above; or purchase of an annuity from an approved annuity provider.
• On death, provided you have not purchased an annuity with your pension fund, the value of your fund will normally be paid as a lump sum to your rightful inheritors.

Allowable investments

Subject to trustee approval, the scheme may typically invest in:

• Stocks and shares listed on a recognised stock exchange
• Collective funds such as Authorised Unit Trusts, OEICs and other UCITS funds
• Investment Trusts
• Deposits and other money market instruments
• Commercial property

This page is a summary only and does not constitute financial, tax or legal advice. Full terms are set out in the scheme rules and particulars, which are available on request. Tax treatment depends on your individual circumstances and may change in future.