Wednesday 27 September 2023
Select a region

Gold approved for inclusion in Jersey retirement scheme

Gold approved for inclusion in Jersey retirement scheme

Thursday 30 January 2014

Gold approved for inclusion in Jersey retirement scheme

Thursday 30 January 2014

Gold has now been included among the list of approved investments for certain types of tax efficient pension schemes in Jersey.

The Jersey Comptroller of Income Tax has approved the inclusion of gold bullion as part of Retirement Annuity Trust Schemes (RATs). Up until now only cash, securities or financial instruments traded on a recognised stock exchange, and units in collective investment funds, were able to be included in the RAT pension schemes.

GoldMoney’s Head of European Business Development, Martyn White, said the move was a big vote of confidence for gold.

He said: "We know from our clients that there are already many people who buy gold as part of their retirement planning, but now that it can be officially included in a pension scheme in Jersey it will allow people to take advantage of the various tax efficiencies on offer. Only investment grade gold bullion purchased through a regulated gold bullion company, and stored in independent, fully insured allocated storage, can be used. GoldMoney fits all of these criteria, and we are now working with local RAT scheme pension providers to develop this offering."

The RAT scheme is a Jersey trust arrangement which allows for pension contributions to be administered on behalf of a local resident by a trust company. Contributions can be funded from the individual, an employer or a combination of both. Full tax relief is available on contributions up to an agreed limit.

Sign up to newsletter



Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

Once your comment has been submitted, it won’t appear immediately. There is no need to submit it more than once. Comments are published at the discretion of Bailiwick Publishing, and will include your username.

There are no comments for this article.

To place a comment please login

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?