London & Colonial
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London & Colonial Assurance PLC is an insurance company with its headquarters located in Gibraltar. It is authorized by the Financial Services Commission of Gibraltar which operates with the same standards as its UK equivalent. Although it does not have a branch in the United Kingdom, London & Colonial products are available to UK residents.
Product Services and Speciality Products
Their SIPP Open Pension is extremely flexible and allows you to tailor it to your specific financial needs. It is entirely up to you when you wish to choose the level and frequency of your pension contributions. It is unnecessary to purchase an annuity in order to receive an income. With this plan, it is possible to take up to 25% of your fund as tax free cash. Rather than worrying about stipulations when it comes to withdrawing income, you can choose when to withdraw as well as the amount. If you have other pension funds these can be transferred into the Open Pension. Their corporate Open Pension offers the same benefits as the regular one.
Their EU SIPP is a pension plan that is designed for those who have not had resident in the UK status for more than five years. Regardless of whether you are from the UK, all pension funds are accepted by this plan. If you die during the plan the full value of it will be passed on to your beneficiaries. If you need funds for property purposes there is no limit on the amount you can borrow. This pension income is also paid gross directly to your bank account. This plan can also ‘lock in’ your non-residency status even if you returned to the UK.
As there is no London & Colonial branch in the UK, potential customers will have to do business through independent financial advisors.