{"id":558940,"date":"2022-02-16T08:48:07","date_gmt":"2022-02-16T06:48:07","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=558940"},"modified":"2022-02-16T08:48:07","modified_gmt":"2022-02-16T06:48:07","slug":"alexander-forbes-offers-south-africans-opportunity-to-save-for-retirement-offshore","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/558940\/alexander-forbes-offers-south-africans-opportunity-to-save-for-retirement-offshore\/","title":{"rendered":"Alexander Forbes offers South Africans opportunity to save for retirement offshore"},"content":{"rendered":"<p>South African residents wanting to augment their retirement savings with an offshore pension plan can now use an efficient retirement solution with estate planning benefits from Alexander Forbes.<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/connect.alexanderforbes.co.za\/ippp?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=February+2022\" target=\"_blank\" rel=\"noopener\"><strong>Click here for more information about how Alexander Forbes can benefit you.\u00a0<\/strong><\/a><\/strong><\/li>\n<\/ul>\n<p>Alexander Forbes\u2019 International Personal Pension Plan (IPPP) is an offshore vehicle held in trust.<\/p>\n<p>It allows South African residents between the ages of 18 and 75 to save for retirement using funds that can be transferred offshore through their personal annual allowance or funds already held offshore.<\/p>\n<p>\u201cIt is now possible to boost one\u2019s retirement savings outside of the tax-deductible annual maximum of R350\u00a0000, allowing one to accumulate savings in an offshore jurisdiction tax-free without financial emigration, and with protection from creditors,\u201d said Shivesh Maharaj, Head of Product Development at Alexander Forbes.<\/p>\n<p>\u201cIt is an impactful efficient retirement and estate planning tool as well as for clients who have maximised available tax allowances to existing retirement savings vehicles.\u201d<\/p>\n<p>The key purpose for taking out an IPPP should be to save in an offshore pension. In terms of Regulation 28, South African retirement funds can invest up to 30% offshore (with a further 10% allowed into African countries outside South Africa).<\/p>\n<p>The solution allows individuals to increase their total overall offshore exposure beyond this using a tax-efficient offshore vehicle.\u00a0 There is a minimum investment requirement of $50\u00a0000.<\/p>\n<p>\u201cIt is a retirement solution which can help improve or achieve a member\u2019s retirement outcomes by assisting in structuring retirement plans tax efficiently and across generations, with access to a range of collective investment options,\u201d Maharaj said.<\/p>\n<p>The IPPP is an individual international Jersey- pension plan approved under Article 131C of the Income Tax Act (Jersey) Law 1961, and regulated by the Jersey Financial Services Commission.<\/p>\n<p><strong><a href=\"https:\/\/connect.alexanderforbes.co.za\/ippp?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=February+2022\" target=\"_blank\" rel=\"noopener\"><strong>Click here for more information and to find out how the Alexander Forbes IPPP can benefit you.\u00a0<\/strong><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South African residents wanting to augment their retirement savings with an offshore pension plan can now use an efficient retirement solution with estate planning benefits from Alexander Forbes.<\/p>\n","protected":false},"author":57,"featured_media":558942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[6280],"class_list":["post-558940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-alexander-forbes"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/558940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=558940"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/558940\/revisions"}],"predecessor-version":[{"id":558946,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/558940\/revisions\/558946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/558942"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=558940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=558940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=558940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}