Transferring Your Pension

If you have ceased to be UK-Resident* for tax purposes, it is possible for you to transfer most types of UK pension into one of our range of Isle of Man schemes.

There are a number of potential benefits from transferring your pension in this way.

The main types of scheme we can provide which can be used for transfer purposes are:

• SIPPS
• Personal Pensions - which can also accept protected rights and other contracted-out UK pensions.

Your financial adviser will be able to guide you as to whether your pension is suitable for transfer. Not all pensions will be suitable. For example, you should normally not transfer any pension which is:

• a final salary pension, or
• has guaranteed annuity options

Boal & Co do not provide individual transfer/actuarial advice (except to our SIPP clients). Your adviser will instead analyse your personal situation and assess whether transfer is advisable or not.

More details available in this PDF download

*Although legislation also permits such transfers if you are a UK-resident, for taxation reasons our schemes are not available to UK residents.