Pension Drawdown (Jersey only)

Subject to certain conditions you can transfer your pension fund to a Pension Drawdown Contract and immediately withdraw an unrestricted amount i.e. up to 100% of the value. Like the Annuity and Retirement Trust Scheme Route a tax free lump sum of 30% is available with the residual fund taxed at 20%.

To establish a Pension Drawdown Contract you must be able to meet the 'Minimum Retirement Income' (MRI) requirement. MRI is a guaranteed lifetime income of an amount not less than the single person's full States of Jersey old age pension, increasing by at least 3% per annum.

On death the remaining balance of your pension fund passes to your estate net of the standard rate of Jersey income tax.

You may not be permitted to transfer your pension fund to a Drawdown contract if any part of the fund arises from a transfer from a UK pension arrangement. 

Your options at Retirement include:

Contact us

Rossborough Financial Services Limited

Email: enquiries@rfsl.co.uk

Jersey

Phone: 01534 500662
Fax: 01534 732262

PO Box 332, 41 La Motte Street
St Helier, Jersey JE4 9YA

Guernsey

Phone: 01481 241534
Fax: 01481 241535

PO Box 127, Rossborough House
Bulwer Avenue, St Sampsons 
Guernsey GY1 3HG

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