Equilibrium Pensions

Domestic Pensions

Where an individual has a personal or occupational pension scheme in the United Kingdom and intends to emigrate from the UK, there are opportunities to transfer the UK pension to a pension in the Isle of Man.

The key characteristics Domestic Pensions:

  • There is no mandatory requirement for the pension managers to purchase an annuity.
  • The fund can become part of the deceased member's estate.
  • There is no upper limit to the size of the pension.
  • There is considerable flexibility as to eligible assets/investments (in accordance with the Statement of Investment Principles).
  • The entire fund will benefit from the gross roll up of assets.
  • Benefits may be taken at any age between 50 and 75.
  • A double taxation agreement exists between UK and the Isle of Man thereby permitting retirement to be taken in the UK if so desired