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Pensions

IOM Pension (SIPP/Corporate)

The IOM Scheme is a personal pension scheme for Isle of Man residents with a clear and transparent charging scheme and offers two plans for members to contribute too (“Plans”), allowing them to meet their retirement needs.

Funding the Scheme
The IOM Scheme is funded by the Member or on behalf of the Member via employer contributions.  Tax relieved total contributions to any Isle of Man scheme is limited to £50,000 per annum and any

excess contributions may be liable to penalties. The IOM Scheme can also be funded via transfers, either from existing appropriately tax-approved Isle of Man pension arrangements or other non-Isle of Man arrangements depending on which of the Scheme’s Plans you have opted for.

Retirement benefits
The benefits you can take when you retire will be determined by the Plan of which you are a member:

  • For the 1989 Plan, you will be entitled to a lump sum of 30% and a pension, either in the form of income drawdown or an annuity, the amounts of which will depend on the value of benefits that have built up in the Scheme.
  • For the s61 Plan you will be entitled to a lump sum of 40% of the value of the Scheme plus withdrawal of funds in any frequency or amount that you wish, or an annuity if you prefer.

If the Trustee has accepted a transfer into the Scheme in respect of tax-relieved rights you have accrued in another jurisdiction, the value of your lump sum in respect of that transfer may be restricted by the laws of that jurisdiction.

Whether you are an international firm or located on the Isle of Man we will be able to assist you.
Mark Schofield, Director
Flexibility is key. We put your requirements first, then deliver outstanding service in everything we do
Kerry Jones, Senior Manager
In all my years of working with Optimus, they have always conducted themselves in a highly professional and timely manner whilst providing an excellent service to their clients
Industry Professional, Director
Latest news...
Optimus donate to three local charities

Castletown based Fiduciary and Pension firm Optimus Fiduciaries Limited are pleased to announce donations to three local charities. Through various staff fundraising initiatives, the firm raised £750 which has been split evenly between Bowel Cancer Isle of Man, Manx MSPCA and Age Concern Isle of Man.

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Tim to present at Turkish Investment Forum

Tim Shallcross, Head of Business Development at Castletown based fiduciary and pension group Optimus Limited is to present a key message on the benefits of its new Turkish International Pension Plan as well as why the Isle of Man is a jurisdiction of choice in Istanbul later this week.

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Should you wish to make an enquiry please get in touch by using the contact form or by calling our office on +44 1624 695560

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