Boal & Co has added a Sipp to its range of QROPS pension schemes, which allow British expats and other UK non-residents to transfer UK occupational and personal pensions to an offshore pensions environment.
The consulting actuaries firm created two Balley Chashtal personal pension schemes in April 2008. Balley Chashtal No. 1 PP scheme invests in single premium bonds from offshore life companies, while No. 2 scheme links to high-interest offshore bank and building society accounts. DHSS regulations in the Isle of Man enable Sipps to contract-out for the first time, from 1 October 2008, and the Balley Chashtal Sipp will be one of the first IoM Sipps to receive a scheme certificate, said the firm. It is registered with the IoM Insurance and Pensions Authority, tax-approved by the IoM Assessor...
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