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Aurora Protea

Aurora Protea

Aurora Protea at a Glance

Aurora Protea International Pension Savings Plan (the plan) is a Guernsey based plan specifically designed to provide a personal “Pension Option” and a “Savings Option” in a safe and secure environment, competitively priced and tailored for the needs of the South African market. The plan is open to participants who are not resident in Guernsey or Jersey.

Make provisions for your retirement and that of your loved ones on your death. Build your wealth in a safe and secure environment and enjoy a wide range of investment choices, protection against further Rand deprecation and flexible retirement and savings benefit options.

Not subject to Guernsey taxation in the hands of Members,  the plan is efficient, flexible and secure pension and savings options with many benefits for South African residents.

How can I contribute?

The plan is generally able to receive transfers from similar international pension, savings or other trust arrangements.

The plan is able to accept various methods of contributions, both regular and/or lump sum.

Investments

The plan is designed to allow for a wide range of marketable securities to be held, via a custodian chosen by you, including but not limited to offshore personal portfolio bonds, online custody platforms, discretionary fund managed accounts, managed model portfolios, execution only accounts or a bank account.

The plan may also accommodate more bespoke investments, known as Alternative Investments.

Member Taxation

Although pension funds for non-Guernsey or non-Jersey residents may accumulate and be paid tax free from Guernsey, there are domestic tax and exchange control issues that should be considered by anyone looking to become a Member of the Pension Option or Savings Option.

Whilst the plan has been designed with significant legal and tax advice from recognised experts and is capable of providing tax efficiencies, each person’s circumstances will be different, and Administrator strongly recommends that appropriate tax advice is taken prior to a Member applying for Membership.

Key Benefits

  • Provides robust offshore pension and savings arrangements in a secure environment.
  • Provides a wide range of investment choice, with offshore exposure possible.
  • Competitive prices, with transparent costs.
  • May accept transfers from similar International pension, savings or other trust arrangements.
  • Is ideally placed to utilise the annual South African international investment allowance or consolidate existing offshore assets.
  • Allows for Members to choose between applying for a Pension Option or Savings Option and switch between them, providing flexibility for any change in the Member’s personal circumstances.
  • Assets can accumulate tax free in Guernsey.
  • Income is paid to the Member without the deduction of Guernsey income tax.
  • Allows for funds to be paid in a tax efficient manner.
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