How new Isle of Man pension freedoms differ starkly from the UK
By Mark Battersby, 23 Feb 18
The Isle of Man budget on 20 February introduced the concept of pension freedoms to the island’s pensions legislation, setting out some stark differences to the already established UK rules.
No secret
When pension freedoms were introduced into the UK in 2015, they came as a huge surprise to the public and industry commentators alike. Stephen Webb, who was the UK pension’s minister at the time recently explained that this was important because it was “hugely market sensitive” and “would have a big impact on providers.”
In contrast the introduction of pension freedoms into the Isle of Man had been speculated about widely ever since the UK rules were brought in in 2015.
Tags: David White | Isle Of Man | Pension Freedoms | QB Partners | UK Adviser
