Bedell Cristin partner, Nancy Chien, presented at Jersey Finance's breakfast briefing today on International Savings Plans (ISPs). The topic attracted a great deal of interest from Jersey's finance community, and the seminar was attended by around 320 people.
As the chairperson of the Jersey Pensions Association, Nancy was instrumental in shaping and developing the legislation for ISPs, which was introduced in January 2019.
Nancy gave an overview of the new savings plans and their benefits, highlighting the flexibility they offer. She talked about the reason for introducing the ISP legislation, how the new legislation works and the types of clients the plans are appealing to. These include employers globally, particularly any with international employees. They will also be useful for employers in the Middle East to help them to meet their end of service benefit needs and for companies employing ex-pats in jurisdictions that do not provide adequate benefit provision.
Nancy's presentation was followed by a panel discussion, which was moderated by Lisa Springate, head of technical at Jersey Finance. Nancy and the four other panellists highlighted not only the benefits and uses of the ISPs for clients but also the potential inward investment they might bring to Jersey.
For more information about how ISPs might be able to benefit you or your clients, please contact Nancy.
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