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Rewards Personal: A straightforward plan for you
A flexible personal pension designed for Isle of Man residents.
Rewards Personal is an Isle of Man personal pension designed to help individuals save for retirement in a tax-efficient and flexible way. Established under trust in the Isle of Man, it provides access to a wide range of investment options and the ability to consolidate existing pension arrangements, including eligible UK pension benefits, into a single plan.
Two regimes, one scheme, no fuss.
Rewards has two sections within one plan, 1989 and PFS, which enables members to consolidate existing pension plans from Isle of Man and UK providers into one streamlined, cost-efficient solution.
The plan is taken out in the member’s name, making it simple to keep pension savings together whether they move jobs, start a business, or become self-employed.
The scheme offers flexibility at retirement, allowing members to choose how and when to access their benefits, while benefiting from professional trusteeship, administration and ongoing support from our experienced in-house team.
Everything you need to plan confidently for retirement.
- Tax-efficient pension savings and investment growth
- The option to consolidate existing pension arrangements into one plan
- Access to a broad range of investment funds and strategies
- Flexible retirement income and lump sum options
- Online access to view your pension information at any time
- Professional trusteeship and administration from our Isle of Man team
- Succession planning options to support your beneficiaries
Flexibility today, options for tomorrow.
Rewards Personal combines tax-efficient savings, extensive investment choice and flexible retirement options within a single pension arrangement. With the ability to hold and consolidate pension benefits under one roof, it provides a straightforward and cost-effective way to build, manage and access your retirement savings.
Brochure & Application
Frequently asked questions.
Rewards Personal is a pension scheme established under trust in the Isle of Man which offers tax efficient accumulation, investment choice and the option to consolidate existing plans (including UK) into a single cost-effective solution to save for retirement.
Isle of Man residents who wish to save for their retirement into a straight forward, well governed and cost-effective way.
You can contribute up to 100% of your Isle of Man Relevant Earnings and benefit from tax relief at your highest marginal rate, subject to a maximum contribution of £50,000 across all your pensions per annum.
Transfers into Rewards Personal can be made from most forms of UK and Isle of Man tax approved pension schemes. Having the option to transfer a UK or Isle of Man pension does not necessarily mean it is advisable to do so. Independent financial advice should be taken in connection with any pension transfer.
Rewards Personal offers a range of investment options. The most appropriate for you will depend on your retirement goals as well as your confidence in selecting your own investments. You may wish to discuss your options with an independent financial adviser.
Rewards Personal is flexible and you have the option to change your investment choices at any time.
Rewards Personal is a Defined Contribution pension scheme, which means that the amount of benefits received by you, in the form of retirement lump sum and pension, are entirely dependent on the amount of money paid into your Rewards Personal fund (less charges) and the investment performance (which may be positive or negative). There are no guaranteed retirement benefits of any form. The rules for when and how you can access your retirement benefits will differ depending on the section of Rewards Personal that your money is in (PFS or 1989). For more information, contact us or download the brochure.
The charges for Rewards Personal take the form of an annual fee for ongoing membership. The fee is taken from your Rewards Personal account on a monthly basis. The applicable fee scales are set out in the Fees Schedule. The ongoing charges associated with your Rewards Personal investments are detailed on the Investment Flyer and are calculated and deducted by the investment manager before the fund is priced. There is no additional charge.
If you are eligible to receive a state pension, you will still receive one. Any benefits accrued under Rewards Personal are separate to those provided by the Isle of Man Government.
Talk to us about Rewards Personal.
Think Rewards Personal might be right for you? Contact us or complete an application form to get started.
Technical Sales Manager