The Isle of Man is a safe, well-regulated jurisdiction,and although it is not an EU member it is on the G20 white list and has achieved recognition for a proven record of compliance with international standards of tax co-operation.

The Isle of Man is the only offshore jurisdiction with a dedicated pension regulator, the Financial Services Authority.

An Isle of Man SIPP (Self Invested Personal Pension) allows individuals to make their own investment decisions in relation to their pension scheme, including a number of different options such as Unit Trusts, equities and residential and commercial property.

Tax relief is granted on contributions to an Isle of Man SIPP.

Members of an Isle of Man SIPP can retire from the age of 50, and can take up to 30% tax free cash. Income may be taken immediately, or deferred up until age 75.

There is no need to purchase an annuity and any surplus on death can be passed onto beneficiaries after a tax charge of 7.5%.

The Isle of Man SIPP offers:

  • Up to 30% Pension commencement lump sum
  • Retirement from age 50
  • Tax relief on contributions
  • Investment flexibility
  • No limits on fund size or contributions
  • Flexible levels of income up to 150% GAD, pre and post age 75
  • No need to purchase an annuity
  • SIPPs can have more than one member
  • Low 7.5% tax on fund after death – meaning most of the fund will be able to be passed on to beneficiaries