Frequently Asked Questions

Frequently Asked Questions

Are the proceeds tax free?

Yes. The entire proceeds of your Flexible Trust Account are payable tax free as a right. This of course doesn’t guarantee that all countries will agree the money is tax free, but many countries have dual taxation agreements which helps.

What type of access do I have to my money?

You can take money as a lump sum, or piecemeal, to suit your requirements, any time after age 45.

What are the costs?

Standard initial fees made by the trustees are 0.5%.

Ongoing fees start at 1.5% pa – reductions are available when larger amounts are involved.

Regular savings from employers may benefit from social security savings which we may try to reclaim to offset costs.

Get in touch, let us know about your clients situation and we’ll happily draw up a fee schedule.

The only other costs depend on the investments that you wish to use – for instance, cash in a bank account costs nothing.

Can I Transfer Insurance Bonds into the FTA?

Yes – Insurance bonds can be assigned to the FTA and we can then administer them or cash them in as required. Existing investments such as notes can also be accepted.

Why Haven’t I Heard of This Before?

Most savings, investment & “pension” schemes used by expatriates are sold by insurance companies. These companies naturally sell insurance based products – notably insurance bonds in one guise or another. The Flexible Trust Account is not an insurance product, so the main distributors (insurance companies) have no interest in it.

Can I transfer other pension funds into my Flexible Trust Account? 

As this is a bespoke saving scheme with flexible access only occupational defined benefit pensions cannot be transferred. This includes UK schemes as well as USA based pensions.

Is this a QROPS?

The Flexible Trust Account is not a QROPS – the FTA is designed for new savings, whilst QROPS are intended as replacements for existing UK based pensions. If you have questions about QROPS we have an expert team who will be able to advise you on your options.

Get in touch via the contact page for more details.

Can a UK tax resident be a member of a Flexible Trust Account?

Yes, but only in respect of overseas duties.

Can a self-employed individual become a member of a Flexible Trust Account?

Yes. Please speak to us for specific details.