Global RATS for individuals

Members have their own account within Blue Riband Global RATS and unlimited contributions can be made to this. In addition, the plan can accept transfers from other pension arrangements (subject to restrictions).

Members can retire at any age between 50 (or earlier with the Trustees agreement or if in ill health) and 75. At retirement, up to 100% of the account can be paid as a lump sum. Any benefits not received as a lump sum will be paid as a pension, normally by the drawdown. Alternatively, there is the option to purchase an annuity with an insurance company (if available).

On death, before or after retirement the account can be paid to dependants as a lump sum or as regular pension payments.

All pensions and lump sums will be paid tax-free from Guernsey provided you are not resident in the Channel Islands. However, you may have a liability to pay tax on your retirement income in your own country of residence, depending upon your personal situation.