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Aurora Africa Plan

Aurora Africa Plan

Aurora Africa Plan at a Glance

The Aurora Africa Plan (the plan) has been specifically designed for South Africa and the greater African Continent, as a contract plan. The plan is suitable for UK expatriates and or dual residents, and foreign nationals.

The plan has been created to cater to those people who are internationally mobile or for people who wish to save into a plan to support their existing retirement arrangements. As the plan is an international account the way in which the plan is administered differs from that of a conventional pension plan, such as the rules that can be applied to the investment diversification and draw-down.

How can I contribute?

Due to the flexibility and tax-efficient structure that this pension vehicle provides, the plan can facilitate the transfer of existing plans held by external providers, whilst accepting additional funds which are classed as being post-tax earning or from personal savings and capital. There are no restrictions applied to the contributions permissible to the plan, whether you want to save on a regular basis, make ad hoc payments or contribute by means of a single lump sum or transfer in specie, there is an option available.


The plan can provide individual members access to professional investment management and holistic retirement planning services.

Normally the returns made from the investments within The Africa Plan are free from personal tax liability until the point in time that the plan member enters into drawdown or receives benefits from the plan. These payments may be taxable in the plan member’s country of residence.

The plan provides greater ownership and control over your accumulated funds and investment flexibility which may include a full range of asset classes, including property, private company shares and esoteric investments.

On occasions and where the plan member meets the set criteria, the investment management function may be undertaken by the plan member themselves.

What happens when I reach retirement?

You are able to apply for retirement benefits from the age of 50 years as a member of this plan, however this is not mandatory and you can defer this until the age of 75. In the case of ill health, you may be able to access funds earlier. Please contact us if you have any questions relating to ill health.

When you do start drawdown, you have the option to take up to 30% (or 25% for UK residents) of the value of your pension contract on that date as a pension commencement lump sum (PCLS). Again, your country of tax residency will dictate whether the PCLS is taxable or not.

Regular income from the pension contract is calculated using the plan value and is set for a period of three years. Once this time passes, the value of the pension funds will be used to calculate the next three-year pension period.

The alternative option to take a valuation calculated income draw-down is to buy either a guaranteed income annuity or a temporary annuity from an annuity provider.

You should be aware that there is no guarantee that the funds in your account will be sufficient to pay an annuity until your death. On your death the income of the balance of your pension fund (if any) can pass to your nominated beneficiaries or dependants.

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