Horizon Guernsey

A retirement savings plan, designed to make saving easy

Horizon Guernsey has been designed to accommodate smaller contributions. It is perfect for those looking for a low-cost RATS arrangement, and for people starting their retirement planning early who don’t want to commit to large monthly contributions.

Overview

Horizon Guernsey is an affordable entry-level pension product that leaves clients the options of moving to other arrangements at a later date. For those who simply want to save, and are willing to sacrifice some flexibility in exchange for lower fees, Horizon Guernsey is a perfect solution.

Horizon Guernsey is open to anyone between 18 and 75 years of age who is a Bailiwick of Guernsey resident, including those who already have a Guernsey-based pension scheme and are looking to transfer to a RATS.

Flexibility

Horizon Guernsey is delivered through a designated investment platform with a specialised range of investment funds and a discretionary investment management option provided by our sister company, Gower Financial Services Limited. However, provided they use the designated investment platform, it also lets clients self-manage their investments through its Member Directed investment approach.

Horizon Guernsey can accept transfers from other Guernsey pension arrangements, together with regular and ad-hoc contributions. The Plan does not offer a loan facility. Clients looking for this feature should refer to our Horizon Choice Pension Plan.

If you are interested in investing via non‑standard assets please revert to our Bespoke offering for further details.

To apply for a Horizon Guernsey Pension Plan download the application or enquire online

Application Form

Enquire Online

Alternatively contact us by

+44(0)1481 700200

Email us

Horizon Guernsey FAQs

What type of pension fund can be transferred to a RATS?

Most Guernsey approved pensions can be transferred to one sort of RATS or another; but this will depend on the circumstances and requirements of the ceding (transferring) scheme. If you are wanting to transfer a UK registered pension you must check that the RATS is also a QROPS.

What is the maximum or minimum contribution I can make?

There is now no limit on the contribution amounts into a Guernsey retirement annuity trust scheme, though Guernsey Income Tax have set parameters with regard to the amount of contribution that will receive tax relief.

Contributions and allowances under the Guernsey Income Tax Law can be summarised as follows:

Section 157A & 150 schemes: Tax relief is currently available on member contributions into pension plans / RATS up to the lesser amount of £35,000.00 or 100% of a member’s taxable income per annum. The rules relating to this are published on the Guernsey Income Tax website at www.gov.gg.

Who is eligible to join the a RATS?

RATS are open to anyone over 18 years of age and normally under the age of 75 years.

How can benefits be taken?

While there is flexibility about how benefits are taken, the Trustees would look to ensure that benefits are drawn at a level to try and ensure income is provided throughout a member’s retirement. The Trustees try to ensure this by evaluating the level of income permitted every 3 years once you start to receive benefits. Investment performance and the level of benefits you take will effect the life span of the RATS.

For further information please refer to Payment of Benefits on particular pension offering.

At what age can benefits be taken from a pension?

This will normally be defined in the deed based around the parameters of the scheme's approval/acceptance/exemption.

Section 157A & 150: From age 50 (unless ill health would apply) and normally the latest being age 75 (or as the law may allow and as may be amended). Some Section 150 Corporate schemes may stipulate a later retirement age, perhaps in line with a contract of employment.
QROPS: From age 55 with no defined upper age in law, though from age 75 a benefit calculation must have taken place.
Section 40ee: There is discretion on the retirement age of the member which will normally be agreed on establishment but then that may be altered at a later date if agreed between the member and the Trustee.