Home / For Individuals / Freedom for SA Residents
Freedom: Providing choice for SA residents
An international pension designed for South Africa residents.
Freedom International Personal Pension Plan (Freedom) is designed for current and future South African residents who have retirement savings and assets accumulated from a variety of sources. It provides a flexible, internationally recognised pension structure that can accept transfers from international pension arrangements, as well as contributions of cash or assets.
Freedom offers a tax-neutral environment for offshore retirement savings, access to global investment opportunities, flexibility over retirement benefits, and the ability to pass on residual pension funds to nominated beneficiaries without the need for probate. Established under trust in the Isle of Man, Freedom is registered as an International Authorised Retirement Benefits Scheme and fully recognises the requirements of Isle of Man retirement benefit legislation.
Everything you need to manage and grow your international retirement savings.
- Flexible contributions with no Isle of Man limits on contribution levels, whether made in cash or assets.
- Consolidate pensions and assets to simplify administration and potentially reduce overall costs.
- Future proofing for individuals planning retirement in another jurisdiction or relocating to South Africa.
- No Isle of Man tax at source on investment growth and income, allowing retirement savings to grow in a tax-free gross roll-up environment.
- Flexible benefits and retirement age, with options for lump sums, income drawdown or a combination of both from age 50.
- Gross benefit distributions paid without deduction of Isle of Man tax at source.
- Succession planning through beneficiary nominations and trustee discretion.
- Wide investment choice with access to global markets and investment solutions.
A flexible offshore pension built around your future plans.
Whether you're already resident in South Africa or planning a move there, Freedom provides a straightforward way to consolidate international pensions and offshore assets into one tax-efficient retirement structure. The scheme combines investment flexibility, succession planning benefits and a wide range of retirement income options, helping you build, manage and access your retirement savings in a way that suits your personal circumstances and future goals.
Frequently asked questions.
Freedom International Pension Plan (Freedom) is an International Pension Plan (IPP) domiciled in the Isle of Man but only open for individuals who are resident outside of the Isle of Man. It enables retirement benefits to grow in a tax-free environment at source with potential tax savings and flexibility on benefit options in retirement.
If you are over 18 years of age, and are not resident in the Isle of Man, you are eligible to apply for membership of Freedom.
For current or prospective future South African tax resident individuals, Freedom offers an ideal environment for the consolidation of offshore assets and/or utilisation of the annual foreign investment allowance.
Freedom is typically funded by a cash contribution, a contribution of existing assets (in specie asset transfer), a transfer from an existing international retirement plan, or a combination of these.
From an Isle of Man perspective, there are no limits to the level of contributions (cash or asset) that can be made to Freedom. However, South African tax resident individuals should be mindful of their foreign investment allowance (currently ZAR 10 million per annum) and annual discretionary allowance (currently ZAR 1 million), in addition to the respective exchange control considerations. Professional advice should be considered with regard to the requirement for exchange control clearance/approval where the contribution is being made from assets held within South Africa.
Talk to us about Freedom for South African residents
If you are a resident of South Africa and think Freedom would work for you, contact us to get started.
