Members of the schemes, called Pathfinder and Explorer, will benefit from Malta’s tax treaties and Malta’s domestic and international legislative framework for pensions.
Each member has pension assets held in a corporate vehicle which ensures legal segregation between each member’s assets within the scheme.
The choice of contractual or trust-based scheme will depend on the member’s circumstances, but with these products, Trireme is able to provide bespoke pensions to internationally mobile individuals.
The Pathfinder range includes schemes for UK (subject to a pending application for QROPS status) and other EU-registered pension transfers (including transfers made by US-connected persons), whereas the Explorer range provides supplementary pension schemes which are able to receive non-tax relieved contributions from clients all over the world (including US-connected persons).
Trireme has engaged a number of discretionary asset managers who can be selected by scheme members, and the company is committed to operating under a transparent fee structure, with no hidden commissions.
In designing the Pathfinder and Explorer contractual schemes, Trireme has worked with Richard Garrod of Confiance Pension Services and Mike Dewsnap of Cavendish Corporate Investments PCC.
Nick Mahy, managing director of Trireme said it had been helpful having the two of them on board to help develop the contractual pension products and said Trireme would continue to work with them to develop more new pensions products.
Garrod said: “Contractual pension schemes have a wealth of benefits for prospective members over traditional trust-based schemes. The contractual scheme offers tax clarity in civil law jurisdictions where trusts are not recognised and where they are vulnerable to adverse tax treatment. For many prospective members and asset managers, Trireme’s Pathfinder and Explorer schemes also offer reduced reporting requirements, especially for US-connected members.”
In June Trireme received QROPS status for its Malta based Voyager Retirement Plan.
