The Isle of Man boasts one of the most modern and effective regulatory and tax frameworks available globally for the delivery of retirement solutions.
The Island stands out among international offshore centres in having a dedicated regulatory regime for the managers of pension schemes and the schemes themselves. This regulation is distinct from the tax framework that governs the schemes. The result is a highly flexible and modern structuring opportunity for retirement solutions underpinned by a dedicated regulatory function.
Since the introduction of the Retirement Benefits (International Schemes) Regulations 2001, the Island has become established as a major centre for the administration of international pension schemes. The legislation establishes a sound governance template for international schemes, with the objective of encouraging international businesses with globally mobile employees to base their schemes in the Isle of Man.
The Island provides a solid foundation for international retirement planning by ensuring that schemes are operated by appropriately licensed professionals, that the latter adopt strong internal governance, and that certain member rights are enshrined in law. However, the legislation also includes substantial flexibility regarding specific benefit design, leaving scheme designers free to develop a bespoke benefit structure that can be fully adapted to suit international businesses’ specific objectives, or to incorporate multi-jurisdictional requirements.
Why Choose Isle of Man for Retirement Solutions?
- Choice of Retirement & Employee Solution providers
- Robust and highly effective insurance and pension legislation and pragmatic regulatory approach
- Financially competitive
- Trusted Jurisdiction
- International Expertise
- Strong finance infrastructure and network of professional advisers