Legislation

The items on the menu bar to the right concern different aspects of the regulation of retirement benefits schemes operating in or from the Isle of Man. This legislation establishes the basis upon which the Isle of Man Financial Services Authority ("the Authority") regulates the management of retirement benefits schemes, and operates alongside the pensions legislation managed by the Treasury.

Primary Legislation

The Retirement Benefits Schemes Act 2000 confers on the Authority its position as an independent regulatory body governing certain aspects of the operation and management of retirement benefits schemes in or from the Isle of Man. It also sets out various conditions that must be complied with before a scheme may operate in or from the Isle of Man. The PDF file below is the internet version of the Act and has been prepared to reflect the text as made and as subsequently amended.

Please note that this document was created by the Authority to assist persons regulated under the Retirement Benefits Schemes Act 2000 and other readers. The Authority accepts no liability for the document's completeness and accuracy. Original legislation should always be consulted for legal purposes.

Retirement Benefits Schemes Act 2000

Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 1) Order 2001

Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 2) Order 2001

Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 3) Order 2004

Amendments

Where legislation has been amended, the PDF file below reflects the text as amended. Anyone who requires a copy of the original or the amending Orders or Regulations should contact the Authority.

Guidance on registration under the Retirement Benefits Schemes Act 2000

A guidance flowchart is provided below; this flowchart was created by the Authority to assist prospective applicants and persons regulated under the Retirement Benefits Schemes Act 2000. However, it does not constitute binding guidance. Original legislation should always be consulted for legal purposes.

Secondary Legislation

General provisions

The following legislation, in conjunction with the Retirement Benefits Schemes Act 2000, concerns the general management of retirement benefits schemes. It is general in nature and applies equally to international and domestic schemes and their Administrators.

Please note that these documents were created by the Authority to assist persons regulated under the Retirement Benefits Schemes Act 2000 and other readers. The Authority accepts no liability for the completeness and accuracy of the documents. Original legislation should always be consulted for legal purposes:

The Retirement Benefits Schemes (Miscellaneous Amendments) Regulations 2014

These regulations deal with amendments to regulations associated with both domestic and international retirement benefits schemes.

The Retirement Benefits Schemes (Miscellaneous Amendments) Regulations 2015

These regulations deal with amendments to regulations associated with both domestic and international retirement benefits schemes.

The Retirement Benefits Schemes (Management and Miscellaneous Provisions) Regulations 2001

These regulations deal with general management and other provisions associated with both domestic and international retirement benefits schemes.

The Registered Schemes Administrators (Fees) Regulations 2015 (as amended 2016)

These regulations deal with the fees associated with the application for registration and continued registration of a registered schemes administrator under the Retirement Benefits Schemes Act 2000.

The Registered Schemes Administrators (Fees) Order 2017

This order specifies the fees associated with the application for registration and continued registration of a registered schemes administrator under the Retirement Benefits Schemes Act 2000.

The Retirement Benefits Schemes (Independent and Nominated Trustee Requirement) Regulations 2004

These regulations define various matters regarding the appointment of independent trustees.

The Retirement Benefits Schemes (General Register) Regulations 2004

These regulations prescribe the information that will be contained within the general register of schemes. This register forms the basis for the pension tracing service that is offered by the Authority.

Excepted Schemes

The Retirement Benefits Schemes (Excepted Schemes) Regulations 2001

These regulations make provision for the exclusion of certain statutory and insured pension arrangements from the requirements of the Retirement Benefits Schemes Act 2000.

Additional Pension Legislation

In addition to legislation made under the Retirement Benefits Schemes Act 2000, legislation concerning the operation and management of private pension schemes has historically been made by the Treasury Social Security Division and the Treasury Income Tax Division.

RSS feeds

If you would like to be kept up to date with any aspect of this legislation, or you would like to receive information regarding any future legislation released for consultation, please subscribe to the Authority's RSS feed by clicking here.