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Trireme Pension Services (Trireme) is an occupational and personal pension trustee and administrator. It comprises of Trireme Pension Services (Malta) Limited and Trireme Pension Services (Guernsey) Limited, their two main jurisdictions.
Trireme is part of PraxisIFM, an independent, owner-managed group of financial companies established in 1972 which is listed on The International Stock Exchange.
PraxisIFM has offices in 15 jurisdictions throughout the world. Pensions is noted as one of the three core service offerings of PraxisIFM who provide administration services to more than 250,000 individual pension members.
Trireme offer a range of personal and corporate pension plans from its licensed and regulated offices in Malta and Guernsey. These include IPP, QROPS, QNUPS, SIPP and other US offerings.
1. Personal plans:
Trireme offers four kinds of personal pension plans. They are:
2. Corporate plans:
Under corporate plans, Trireme Pension Services establish and administer a range of domestic and international retirement benefit plans including defined contribution and defined benefit plans for a set group of employees or an entire workforce.
These can be further divided into three categories:
Other than the above main offerings, Trireme Pension Services also offer US plans that include:
Originally established in 1972, PraxisIFM has 450+ staff and is an independent, owner-managed, group of companies providing a wide range of professional services to private individuals, families and international corporate clients.
Theoretically yes, as Trireme has a series of schemes specifically aimed at US residents.
However, care must be taken by US residents when it comes to making pension transfers, in part because of the far-reaching terms of FACTA.
Malta QNUPS can benefit from Malta's numerous double taxation agreements with more than 70 countries and members can commence taking retirement benefits from age 50 with a lump sum of up to 30% of the total value of the plan.
The tax treatment of pension benefits are subject to Malta's domestic tax laws unless there is a double taxation agreement in place between the jurisdiction where the member is deemed tax resident and Malta that overrides the local rules.
All retirement benefits are paid under Guernsey's domestic tax laws and are therefore not subject to any withholding tax in Guernsey.
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Although it’s not one of the most common trustees, we know Trireme has highly experienced and professional staff, is part of a large, experienced group and is well regulated.
Investors should only take advice from UK-authorised pension transfer specialists and avoid conflicted, commission-based advice.
Never deal with a firm that isn’t authorised as a UK pension transfer specialist.
Our advice would be to seek professional, fee-based and independent advice if you have an existing QROPS or other solution with Trireme.
For pensions worth £250,000 or more, we recommend contacting us for a Second Opinion.