David Holmes, who runs a consultancy called First Actuary, will serve on the Isle of Man-based firm’s Industry Expert Panel.
David White, partner at The Qrops Bureau, said the purpose of the Industry Expert Panel on its online service platform was to bring together, in one place, all of the expertise that professional advisers and product providers need to transact international pension business.
“David has a wealth of experience in delivering actuarial services to Channel Island and international pension schemes and we are delighted that he has agreed to join the Expert Panel,” he said.
He added that Holmes’ experience and knowledge was “a great fit with the solutions based approach which The Qrops Bureau aim to deliver”.
Prior to establishing First Actuary, Holmes worked for a Guernsey-based firm of consulting actuaries, where he was responsible for business development and leading the delivery of pension and investment consulting services.
He provides a range of consulting services to sponsors of occupational pension schemes, trustees, pension scheme providers and advisers.
After training as an actuary with Standard Life in Edinburgh and Generali Worldwide in Guernsey, he became a fellow of the Institute and Faculty of Actuaries in 2004.
Growth in Qrops market
White said he expected the interest in Qrops and other types of international pensions to continue to grow during 2016.
“Whilst there have been a number of regulatory changes in recent years, these are all in the interests of the end consumer and have had the effect of raising the profile of pensions in the consumer’s mind and in many cases increasing their attraction as a secure way of planning for retirement.
“As the Qrops market has matured, charges have come down and Qrops need now be no more expensive than any other form of personal pension, allowing them to be recommended as a viable alternative whenever they are suitable to a particular client’s circumstances and objectives.”
He said these factors together with the fact that an increasing number of the population are reaching retirement age and are looking to move overseas and become non-resident for UK tax purposes, reinforced the continued need for international pensions planning going forwards.
