"Where would my money be invested?"

The majority of offshore pensions providers, like birds of a feather, have tended to flock together in well regulated jurisdictions with stringent investor protection legislation, such as Jersey, Guernsey, and the Isle of Man. As a result, these jurisdictions have developed responsive regulatory regimes and highly efficient business infrastructures. Dublin and Luxembourg are also up and coming as offshore locations for retirement planning solutions but their products tend to be move suitable to a European audience.

"How do I know what to look for"

When choosing a vehicle for your retirement planning there are many areas to be considered eg:

• What are the offshore annual and administration charges? Are they unusually low or high compared with other insurance providers and if so, why?
• Which companies will get me the highest returns on my money?
• Which plan is best for me, and within that plan, which funds are going to be most suitable for me?
• Are there a wide range of fund types and sectors that I can choose from?
• Are there limitations on how and when I can take your benefits and are there any limits on contributions and benefits?
• Can I pay your contributions in a range of currencies (usually an important issue for an expat?
• Can my plan be denominated in a different currency to what you contribute in?
• What degree of investor protection is in place?

This is obviously not a definitive list, and proper due diligence needs to be done before any decision is made.

For instance just one of the areas to be considered, the funds that you chose for your money to be invested in, is a minefield of its own.

There are over 40,000 funds to choose from. Questions like "Do I choose one that is currently performing well and if I do how do I know it will continue to do well? or "A friend says Far Eastern Emerging Companies are where I should be … what are Emerging Companies?" are very common.

Even if you do make a good choice today how do you know it is still a good choice in one, four or seventeen years time?

The difficulty is knowing what to look for and having the time to monitor your plan over the years. Consulting a good Independent Financial Adviser (IFA) or Broker, as they are often called, can help you through this important decision.

Most international retirement income providers will offer you the opportunity to take your retirement income as a cash lump sum, annual or monthly income, or a combination of the two. It's up to you decide which is best for you. Much will depend on the potential tax implications for you at retirement, and your intended lifestyle.

Leaving your retirement planning until the last minute may mean that you are unable to provide a decent standard of living for yourself and your dependants…

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