The deVere Group, the financial consultancy, announced yesterday it will offer a new class of pension fund for UK expats, taking advantage of rules which came into force in February this year.

The group is launching a new class of trust, known as Qualifying Non-UK Pension Scheme, or QNUPS. These schemes will, the consultancy said, benefit from a UK inheritance tax exemption in respect of UK tax-relieved funds that have been transferred to the QNUPS. They will offer expatriates the option to continually pay money into a scheme once they have retired abroad.

"The expatriate market is our primary area of focus and it is important that we continue to find new opportunities that will help our British clients become more tax efficient on local taxes in the countries where they are tax resident and UK inheritance tax (IHT) when they decide to retire abroad," said Nigel Green, chief executive of the deVere Group.

The deVere Group has more than $7 billion of funds under administration and management and 50,000 clients in more than 100 countries.