Whether it be wanting to start a local pension scheme approved by HM Government of Gibraltar income tax, transferring from one local scheme to another or transferring a pension from overseas, AWML are able to help.

Under current HM Government of Gibraltar income tax office rules and practise, pension schemes benefit from extremely favourable tax treatment. Tax relief is available to differing degrees under both the Gross Income Basis (GIB) and the Allowances based scheme of assessment. Pension income is currently taxed as follows;

• from local Gibraltar schemes - 0% from age 60
• from Gibraltar Qualifying Recognised Overseas Pension Schemes (QROPS) – 2.5% from age 55

Please refer to the HM Government of Gibraltar income tax office website for further details or click here.

Please contact us for further information.