What are the different types of pension plans?





4.04.25



In the UK and Gibraltar, there are various types of pension plans available, each designed to cater to different needs and circumstances. Here’s an overview of the key types of pension plans in Gibraltar:





1. Basic Gibraltar Pension:

► A state pension available to individuals who have contributed to the Gibraltar Social Insurance Fund.


2. Occupational Pension Schemes:

► Similar to those in the UK, many employers in Gibraltar offer pension schemes that can be either defined benefit or defined contribution based on the employer's choice.


3. Personal Pension Plans:

► Individuals in Gibraltar can establish personal pensions, offering flexibility in contributions and investment choices, akin to personal pensions in the UK.


4. Self-Invested Personal Pension (SIPP):

► Available in Gibraltar as well, allowing individuals to have more control over their pension investments.


5. Qualifying Recognised Overseas Pension Scheme (QROPS):

► For individuals who have accrued pension rights in the UK and want to transfer them to a pension scheme in Gibraltar, which must meet specific regulatory standards.


Email

info@efpg.net


Phone

+350 200 49750


Authorised and regulated by Gibraltar Financial Services Commission Licence No. 4996