FAQ's
This page provides you with a list of questions which have been asked previously.
Who is eligible to join the employer sponsored plans?
The eligibility criteria for employer sponsored plans varies depending on the type of plan and jurisdiction. For the international plans, both expatriates and local employees may be eligible depending on local rules. The criteria are set out in the relevant plan rules.
Who is eligible to join the personal plans?
They offer domestic and international personal plans. Domestic plans are limited to Isle of Man residents only. International plans are for expatriates (people living and working outside their country of citizenship).
Can I transfer other pension entitlements into the plan?
Yes for personal plans (subject to agreement by the provider). For employer sponsored plans transfers in from other plans generally are not permitted unless the plan rules explicitly allow them.
Can I change my contributions?
It depends on the rules of your particular plan. The plan rules will specify how often you can change contribution levels and any applicable limitations.
How do I make my investment elections?
An investment guide will be provided that gives information about the funds available and helps you access more information from the fund managers. The provider does not give investment advice directly; if you’re uncertain you should take independent financial advice.
Can I change my investment elections?
That depends on your plan rules. If permitted, you can make changes via the online member portal — separate processes may apply for future contributions vs current investment holdings.
Who selected the investment funds and why were they selected?
For employer sponsored plans: the employer selected the funds after advice, considering past performance and strategy. For international personal plans: funds were selected by an adviser after evaluating appropriate multi‑currency managed funds.
Why are more funds not available for employer sponsored plans?
The fund range is chosen taking into account varied membership and long‑term nature of retirement savings. Plans often have a Trustee which works with the employer and establishes a Statement of Investment Principles. The available funds are aligned with that policy.
If I join a personal plan, how will this impact my entitlement to any state pension plan?
For Isle of Man residents: joining the personal plan will have no impact upon any state pension entitlement. For international clients: tax and pension state‑entitlement implications vary by jurisdiction, so you are advised to take appropriate advice.
What happens if I leave the plan or retire before the normal retirement age?
This depends on whether you’re in an Isle of Man domestic plan or an international plan. Normal retirement age is set out in plan rules. Some plans allow benefits if you leave your employer’s service. The specifics vary by plan.
When I retire will my pension payments be taxed?
For Isle of Man residents: yes, you will be subject to income tax at the prevailing Isle of Man rate. For international members: no tax is taken in the Isle of Man, but you may be liable to tax in the country of your residence when you take benefits — you should take independent advice.
May I obtain a copy of the plan’s Trust Deed and Rules?
Yes — the documents are available in the Document Library in your retirement account or can be requested from the Trustee.
What is the legal status of my plan?
The plan is established under a Trust Deed and Rules. For Isle of Man plans administered by the provider as Trustee, it is under Isle of Man law and approved under the Retirement Benefits Schemes Act 2000. For other jurisdictions, the governing law is set out in the relevant Trust Deed.
What happens if I want to make a formal complaint about the plan?
For employer‑sponsored plan members: make written claim to the Plan Committee; if denied, you may request a review by the Trustee. For personal plan members: complaints in writing to the Trustees; if dissatisfied, you may refer the matter to the Isle of Man Financial Services Authority.
What happens if the provider is taken over or subject to other corporate action?
Because of the trust structure, the plan assets are separate from the assets of the provider and remain solely for the benefit of plan members, and remain protected from corporate events affecting the provider.
What information is available online?
You can access via the portal: personal details, plan documents, contribution history by type, current holdings & value, transaction history, fund fact sheets showing returns, plan statements for chosen periods, current fund selections, and nominated beneficiaries.