Qualifying Non-UK Pension Scheme (QNUPS)

What is a QNUPS?

A Qualifying Non-UK Pension Scheme or QNUPS is a Gibraltar-based pension plan that has similar features to that of a UK pension plan and is available to both UK and non-UK residents.

What are the advantages of a QNUPS?

Contributions in excess of the UK Annual Allowance can be paid into a QNUPS without attracting a tax charge.

Contributions to a QNUPS are exempt transfers for UK Inheritance Tax purposes and fall out of the client’s estate immediately. Consequently, there is no need to survive 7 years after the contribution before it is disregarded for Inheritance Tax calculations.

QNUPS can provide greater investment flexibility than a UK pension scheme allowing you to invest in a wider range of assets.

A QNUPS can invest in residential property and make loans to you.

The fund value of the QNUPS is exempt from UK IHT on your death.

No Gibraltar Capital Gains tax is payable on the fund growth.

Only 2.5% Gibraltar Income Tax is deducted from pension income. Additional income tax may be payable, dependent on your country of residence.

Key Features

  • No limit on the amount of contribution
  • No maximum fund value.
  • Benefits payable from age 55.
  • Up to 30% of the fund can be taken as a tax free lump sum (remaining 70% is used to provide an income)
  • Ability to take your pension directly from the fund without the need to buy an annuity.
  • A wide range of permitted investments.
  • Multi currency options for income and investment purposes.
  • Ability to select your own Investment Manager.
  • Discretion over distribution of residual fund on death.
  • No HMRC reporting of transactions within the QNUPs is required.
  • Transparent charging structure

Contact Us

For further information or to arrange a call back from our QNUPS Team please contact us.


Disclaimer: This website contains general information only, without any warranty that the content is accurate, complete or fit for a particular purpose. It does not constitute professional advice. The Castle Trust Group does not accept any responsibility for loss which may arise from reliance on information contained in this website and recommends that for a specific matter a suitable professional is consulted.