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Novia wrap for offshore pension trust

Novia is providing the investment platform for a new overseas pension trust.

The international retirement benefit scheme from provider s615(6) Limited enables employees who work for UK companies but have duties abroad to invest their pension via a trust, operating within the UK’s s615(6) pension legislation.

Novia says the partnership will offer investors a broad range of investment options, an efficient administration platform and a gross general investment account product wrapper where interest and fixed-income distributions can be paid gross without onerous paperwork to reclaim tax.

s615(6) Limited chief executive Gary Draper explains: “All employer contributions attract tax relief against UK corporation tax, there are generous contribution levels, all monies can be taken out 100 per cent tax-free and by using the Novia wrap, individuals and their advisers can select their own investment profile.”

Novia chief executive Bill Vasilieff says: “By using the s615(6) trust and the Novia wrap administration service, advisers can provide a really powerful solution to pension provision for offshore employees.”

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