Trireme has multi-jurisdictional knowledge, and specialises in helping advisers design and set up bespoke pension plans for individual and corporate clients around the world.
The company says it: “maintains a list of preferred advisers and investment managers (who are suitably licensed and meet Trireme’s own due diligence requirements).”
In our experience, preferred investment managers often mean ‘traditional’ discretionary or active fund managers, whose advice may be conflicted, expensive and underperform. We strongly recommend advice is always taken from independent, fee-based planners who would ideally hold Chartered status, and be authorised in the UK as pension transfer specialists.
These can be found on the websites of the UK CII or Financial Conduct Authority.
In terms of Trireme’s core pension services, they are: -
Trireme can establish and administer domestic and international retirement benefit schemes, including defined contribution and defined benefit schemes for key employees, or an entire workforce.
Using their own propriety software system, Trireme claims to deliver a functionally rich administration system, that provides tools for the pension administration process for schemes with up to a million members.
Trireme administers personal, individual retirement plans such as RATS (retirement annuity trust schemes), QROPS (qualifying recognised overseas pension schemes) and QNUPS (qualifying non-UK pension scheme).
The full list is: -
The Pathfinder Retirement Scheme:
Registered with the Malta Financial Services Authority, this is a contract-based Pension Transfer Scheme, designed to receive transfers from existing regulated retirement schemes.
The scheme is recognised as a Qualifying Recognised Overseas Pension Scheme by HMRC under reference number: QROPS510039.
It provides non-UK residents and those leaving the UK with the opportunity to transfer their accrued UK pension benefits.
The Pioneer Retirement Plan
Also registered with the Malta Financial Services Authority, this is a trust-based Pension Transfer Scheme, recognised as a QROPS by HMRC, reference QROPS900554.
It also provides non-UK residents and those leaving the UK with the opportunity to transfer their accrued UK pension benefits.
The Explorer Retirement Scheme
This is a contract-based Personal Contribution Scheme designed to receive contributions from individuals to provide a supplementary retirement scheme.
It is registered with the Malta Financial Services Authority and may be suitable for those who are contemplating becoming resident in a jurisdiction that does not recognise trust-based pension schemes.
It offers added security over traditional trust-based schemes in safeguarding members’ assets.
The Agility QNUPS
This is a Defined Contribution Retirement Plan that meets the UK conditions to be deemed a Qualifying Non-UK Pension Scheme (QNUPS).
Its purpose is to provide supplementary benefits in addition to those provided by retirement plans already established by an individual.
Retirement benefits are provided in the form of a Pension Commencement Lump Sum (PCLS) payment of up to 30% of the plan value, followed by an income stream for the life of the member.
Contributions are made from post-tax earnings or from person capital.
The Agility QNUPS does not permit transfers from retirement plans that have been subject to tax relief on contributions into that plan.
In addition, Trireme’s offers a series of pensions schemes for US connected individuals:
For financial service providers, Trireme can establish, administer and effectively white-label pensions schemes and services, thus enabling service providers to expand their range of own-branded services and products.