Isle of Man Domestic Pensions
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, Equilibrium Pensions 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.
Key Features
Scheme assets may be passed on to heirs, less 0% or 7.5% tax dependent on circumstances.
Tax relief given on contributions – permits a degree of flexibility over quantum of tax payable at tax year end. Maximum £50,000 annual contribution allowance (or 100% of NRE)
Tax free lump sum of 30%, or 40% with a PFS scheme, with deferral of pension payment
Member may take pension and continue to work
Transparent charging structure
Assets grow free of tax, adding to the compounding effect on your savings
Bespoke SIPPs enjoy “Open Architecture” investment options; e.g. Property, Individual Shares, Collective Investments etc.
Low cost SIPPs may invest in discretionary fund managed accounts, investment platforms & insurance wrappers.Financial Investments.
Residential property (subject to limit of 50% of fund) as permitted investment
No compulsory Annuity purchase required
Employer schemes
As a leading pension provider in the Isle of Man, we understand the importance of offering competitive and comprehensive pension schemes to attract and retain top talent. Our tailored pension solutions are designed to meet the unique needs of your business and your employees.
At Equilibrium Pensions we offer a variety of options for employers wishing to provide a pension for their staff. Whether you require a bespoke occupational pension, a group personal pension or Trustee only services we are here to help.
Our experienced team will work closely with you to determine the most suitable plan for your organisation. With our expert guidance, you can ensure your employees have a secure financial future while maximising tax benefits for your business.
Our dual authorised schemes, allow existing balances to transfer into a section under the 1989 Act and new contributions are directed into a S61H (PFS) section. The dual authorised approach ensures your employees have the opportunity to maximise the tax benefits available to Manx residents in today's pension environment.