Pensions & Employee Benefits
Cains is the Isle of Man's only law firm with City trained lawyers specialising in pension and employee benefits.
Regulated by the Insurance and Pensions Authority (the IPA), the Retirement Benefit Schemes Act 2000 established an overarching regulatory framework for domestic and international pension schemes. The recent Income Tax (Pensions) Act 2008 implemented a new tax regime in respect of the Isle of Man's domestic and international schemes. Together, these Acts (as well as extensive UK applied legislation) provide a jurisdiction that combines flexibility of benefit construction with a system of effective but cost efficient regulation.
With regard to domestic pension schemes, the Cains pensions group advises corporate clients and pension scheme trustees alike and has advised on a wide range of contentious and non-contentious pension issues including: scheme design; establishment, tax approval, IPA authorisation and contracting out; pension product development (personal and occupational); scheme mergers and winding up (solvent and insolvent); scheme deficit and surplus; corporate sale, acquisition and restructuring;PPF liabilities and exemptions; executive severance and advice relating to professional advisers and investment management.
With regard to international pension schemes, the pensions group has advised in respect of the establishment of more international schemes authorised with the IPA than any other legal practice in the Isle of Man. Cains' pension group has also advised in respect of complex restructuring of international schemes.
Cains has unrivalled experience in providing legal advice on employee benefits in the Isle of Man. Cains advises various banks and other multinational employers with regard to their respective share option and employee benefit plans. Our lawyers are always happy to take time to discuss any issues clients may have before proceeding with formal instructions.
For further details contact: Ben Hughes* or Richard Vanderplank.
* Member of the Association of Pension Lawyers |
