With effect from 6 April 2018, the Isle of Man Government introduced a new type of pension scheme, known as a Pension Freedom Scheme (PFS). A PFS allows a member full access to their pension funds once they reach the age of 55. Transfers to a PFS are permitted from other Isle of Man Approved Pension Schemes (excluding occupational Defined Benefit Schemes and Statutory Schemes approved by Tynwald), and any transfer is subject to a 10% transfer fee payable to the Isle of Man Treasury. A PFS offers a more considerable tax-free pension commencement lump sum of 40% of the pension value, as long as no previous lump sum has been paid regarding any transferred funds.

Following the tax-free lump sum payment, there is no restriction on the amount of withdrawal made from the PFS; however, these withdrawals are taxable at the member’s marginal rate as income. Any residual amounts held in a PFS can be paid out to beneficiaries free of tax on death.

Atla can offer clients the choice of a bespoke PFS SIPPS, which has a wide range of investment choices and control, or a Master Trust PFS SIPPS, which provides clients with a fixed annual cost.


Self-Invested Personal Pension Schemes (SIPPS) offer a tax-efficient method of retirement planning established under trust and managed by trustees for maximum flexibility and cost-effectiveness. Our bespoke SIPPS are designed to meet clients’ needs with substantial pension funds who wish to retain control over their pension assets. These differ from our ‘master-trust’ arrangements, as each SIPPS is established as a separate trust under which the client can be appointed as a co-trustee and a co-signatory to all banking and investment transactions.

Trusteeship and administration fees are based on the time involved rather than a percentage of the assets held, and our SIPPS are designed to meet HMRC QROPS requirements.


Master Trust Self-Invested Personal Pension Schemes (SIPPS) offer the same tax efficiency as a bespoke SIPPS but at a fixed cost.

The Master Trust SIPPS offered by Atla is designed to meet the needs of clients who wish to obtain more flexibility at retirement when compared to Insured Schemes: our Master Trust SIPPS provide benefits for many members, each with their own separate Member’s Fund.

Unlike our bespoke SIPPS, investment choices are limited to Insurance Bonds and Open-Ended Collective Investments, but clients may choose an alternative investment provider in conjunction with their financial adviser.

Atla currently offers two types of Master Trust SIPPS:


Classic is an Isle of Man Approved Pension Scheme, which is registered as a Qualifying Recognised Overseas Pension Scheme (QROPS) to receive transfers from UK pension schemes.


Flex is an Isle of Man Approved Pension Scheme, designed to meet the requirements to be a Pension Freedom Scheme, which provides members with the ability to flexibly access their pension at retirement.


Transferring pensions built up in the UK to a new jurisdiction can offer major tax and capital preservation advantages. In addition to providing expertise and experience, we offer clients the highest degree of control over their schemes.

Every Atla QROPS client has its own freestanding self-administered pension scheme with its own unique QROPS number. This allows clients to be trustees of their pension scheme trusts and avoids the possibility of being tainted by the actions of others in mass-marketed master-trust arrangements.

We are happy to meet with potential clients and/or their professional advisers without cost or obligation.


Atla offers a range of corporate pension solutions to allow Isle of Man employers to structure retirement benefit solutions to meet the needs of its workforce.


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