Overseas Retirement Benefit Schemes

The Lloyds TSB Overseas Retirement Benefit Scheme enables an employer to accumulate funds in trust for the benefit of any employee who is employed outside their home country.

Any employer, regardless of location or size, may join the Lloyds TSB Overseas Retirement Benefit Scheme (ORBS).

An employer can accumulate funds in an ORBS scheme for the benefit of any employee. The ORBS are subject to restrictions imposed by local tax authorities in each country in which a subscribing employer operates. The individual requirements of both the employer and employee are taken into account when we arrange membership conditions.

The scheme is particularly suitable for an organisation employing personnel overseas for a specified number of years, or under arrangements that terminate when employees reach a certain age.

The ORBS is governed by a Declaration of Trust and General Rules. Before subscribing to the scheme each employer is required to agree and authorise a set of Special Rules that specify the terms and conditions of the scheme applicable to its employees. Subscription is completed by the execution of a Deed of Participation.

The ORBS permits the use of any investment medium agreed between the employer and the trustee. If the employer’s objective is to provide a pension for each employee from a given age, we can provide full investment management. The trustee also works closely with a pension benefits administrator and an actuary to provide a full service to the employer.