The Isle of Man Workplace Pension
We are the administrator of the Isle of Man Workplace Pension (IOMWPP), a low cost option incorporating the “Pension Freedoms” announced in the 2018 budget. The IOMWPP is a dual authorised scheme offering the most efficient way for you to manage any existing older “1989 Act” schemes and take advantage of the new “Section 61” rules for future contributions.
The Scheme is fully supported online with time saving online administration for employers and online account management for members making this one of the most efficient schemes available to Island residents.
Self-Invested Personal Pensions
Whether you are an experienced investor and want a fully bespoke SIPP, or a novice requiring a simple low cost SIPP to invest for your future, iRS is able to help. Many of our clients have taken advantage of our expertise to bring together a number of dormant pensions they have accumulated and combine them into a single scheme for more effective asset management.
We provide a fully compliant transfer service for both UK pensions under the HMRC Recognised Overseas Pension Schemes regime ("ROPS") and domestic IOM schemes, whether they are a personal scheme or an occupational scheme from your past employment, we can help.
Whichever SIPP vehicle best suits your needs we can provide it to you, our SIPP range can accomodate the new Pension Freedoms and transfer in your existing pensions into one SIPP without the need to pay the 10% transfer charge all at an attractive cost.