The international trust and pension management group said investors can use either the Aegean Personal Pension Plan if they have £100,000 or more to invest or a “lite” version if they have less than this threshold.
Sovereign’s Gerry Kelly said introducers “have been requesting Sovereign look at the Isle of Man due to its well-earned reputation of being a very well regulated pension jurisdiction”.
He added that with 25 staff already employed in its Isle of Man office the new QROPS launch “is a natural extension to the Sovereign product range”.
Sovereign said it will continue to examine other jurisdictions for potential further new products in the future.
There is a set-up fee of £750 for the Aegean Personal Pension Plan and an annual fee of £900, with these fees being reduced to £350 and £500 respectively for the “lite” plan.
