UK-based Novia Global has launched a new global retirement account that will be administered by Dominion Fiduciary Services in Malta.

Called Novia Global Retirement Account, the scheme will offer a defined contribution scheme to international investors.

The plan, which is open to any qualifying investor via their intermediary, will enable advisers to club the full benefits of an online straight through processing service.

The company has set no minimum or maximum investment amount for the transfer.

The company has given advisers access to the accounts – via a Novia channel – to a range of portfolio construction, asset allocation and risk assessment tools, as well as the ability to automatically re-balance, switch without incurring fees (excluding equities), and back test against benchmarks.

Novia Global CEO Bill Vasilieff said: "The international retirement market is a huge and expanding sector with investors requiring more and more flexibility when it comes to their long term savings and income arrangements."