The Fortress Pension Plan (“Fortress Plan”) is a Guernsey based Retirement Annuity Trust Scheme (“RATS”) aimed at offering both individuals and companies, based in the Bailiwick of Guernsey, a cost effective pension solution.
The Fortress Plan was developed by MitonOptimal Portfolio Management (CI) Limited (MOPM) to both reduce the cost of administrating a pension scheme; to make its charges and fees simple and transparent and to offer a suitable pension solution to eligible Bailiwick of Guernsey residents.
Why do I need a pension?
It is commonly accepted that to maintain quality of life through retirement a State pension alone is not sufficient to fully support most individual’s retirement income needs. For this reason, it is essential to consider the future as well as the present.
Without a suitably funded pension scheme, everything becomes less affordable as your earned income stream ceases or reduces in retirement. More importantly, this will be at a stage in life when you will most need to be able to afford both the basics and creature comforts more than ever; from items such as your food/utility bills and home maintenance to a new car, a holiday or maybe even a retirement home in sunnier climes.
The fact that we need a personal pension scheme is not in question nowadays. MitonOptimal CI strongly believes that everyone with an income should have a savings plan of some kind and almost everyone who is eligible to save for his or her pension should do so as a priority. Unfortunately, there are pension schemes out there that have a combination of high entry/exit fees, exorbitant front end fees etc., and numerous hidden costs, which can put many people off starting a personal RATS.