New Low Cost Pension in Gibraltar
Lillywhite Pensions launches low cost personal pension
The first genuine low cost personal offshore pension has been launched under the brand of Lillywhite Pension Plan.
The plan uses EFPG as the Trustees, is regulated by the Gibraltar Financial Services Commission, and is approved by the UK HMRC.
Two appealing features for clients are that unlike other pensions we have looked at, the low headline fee is inclusive of most things and doesnt have a hidden menu of fees which often drive the headline rate up. Furthermore the exit charges on a pension are often quite prohibitive, effectively locking the client in by making it expensive to go elsewhere.
The Lillywhite Plan is the first we have seen where the transfer away fee actually reduces over the first few years down to a nominal admin fee meaning that it is a truly flexible plan that can be moved away from should circumstances dictate or other plans elsewhere become more suitable.