Individual Pension Plans
An Individual pension plan is usually set up by an individual to make contributions on his/her own behalf towards saving for retirement
Benefits
- Allows you to save funds towards retirement
- Investment income of the scheme is exempted from corporation tax.
- Upon the death of a member of a registered scheme, the dependents qualify as a group for tax-exemption.
- The schemes will be run under the RBA act which gives security of the fund and also continuous benefits which the Government may give to schemes from time to time.
- Single lump sum contribution is allowed.
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