News

Defined Benefit Services


AVIVA recently announced they would be pulling all DB services from the Isle of Man, Guernsey and Channel Islands. In some cases they have put forward another UK provider whose experience in offshore jurisdictions is uncertain. Boal & Co have the local knowledge and experience necessary to provide these services for you. Boal & Co offers a range of services for...

Privacy Notice - Important Changes


On 25th May 2018 the General Data Protection Regulation (“GDPR”) comes into effect across the European Union. GDPR represents a significant change in data protection legislation and is designed to provide you with greater transparency and control over your personal data. As a Pension Scheme Trustee, Administrator, Actuary and Consultant we hold personal data of Scheme Members and advisors to manage...

Pension Freedoms Literature Now Available


Following the Isle of Man Pension Freedoms recently introduced[sitetree_link,id=172], our new Member Guides are now available to download. These Member Guides are for our domestic Isle of Man approved pension scheme, BC SIPP, suitable for Isle of Man residents. We now have two forms of the BC SIPP on offer: *BC SIPP (PFS)* - Our pension freedoms product if you wish to...

Boal & Co launch Flexible Pension Freedoms Scheme


During his February budget speech, the Isle of Man’s Treasury Minister announced a new form of pension regime aimed at providing pension freedoms. Whilst a decision to transfer existing pension assets will depend on the individual’s circumstances, it is clear that for the vast majority of Isle of Man residents, future pension contributions would be best placed in a new...

Isle of Man Budget 2018 - Pension Freedoms


The Treasury Minister, Alf Cannan delivered his budget speech to Tynwald on Tuesday. You couldn't make it? Don't worry, Boal & Co were there to make sure you didn't miss out on the major changes to pensions on the island. *So what’s changed?* *Pension Freedoms – New Scheme* Alf announced there will be a new type of pension scheme on the Isle of...

Isle of Man Budget 2018 – Technical Summary


Today (20th February 2018) at Tynwald, Treasury Minister, Alf Cannan MHK, announced his Manx Budget for the tax year 2018/19. It contained some significant changes to existing private pension legislation on the island, including the introduction of a new form of Isle of Man pensions legislation, both to take effect 6th April 2018. Outlined below is a summary of the key...

QNUPS - 7 Years On


Since HMRC introduced “Qualifying Non-UK Pension Scheme” (QNUPS) into the pensions lexicon in 2010, there has been much interest but little uptake of these as stand-alone pension products. Initially many saw these as IHT planning vehicles, however the primary purpose of a QNUPS must always be to provide retirement benefits. The limitations on how these benefits can be taken from most QNUPS...

Appointment of New Senior Actuary


Boal & Co is strengthening its insurance actuarial consulting team with the appointment of Neil Taverner as Senior Consulting Actuary. For the last five years, Neil has been Senior Actuary at the Isle of Man Financial Services Authority, leading its actuarial team and the development of the Island’s new capital adequacy regime for the life and non-life insurance sectors. His previous experience...

Notice issued by Isle of Man Financial Services Authority


The Isle of Man Financial Services Authority (the “Authority”) is contacting all professional scheme administrators registered under the Retirement Benefits Schemes Act 2000 and corporate trustees in the Island who act by way of business in relation to schemes registered under that Act to advise them that the Authority has prepared some information to raise consumer awareness about pension scams...

Boal & Co revises fee schedule as it looks to expand offering


Leading International Pensions provider Boal & Co has reduced its fees across its QROPS schemes, having reviewed its pricing structure following feedback provided by introducers. The new fees apply to its standard terms, special terms and ‘Lite’ offerings across its Select (Isle of Man) and Trafalgar (Gibraltar) schemes, for cases issued on or after 1st March 2016. As well as the initial...

Boal & Co appoints Danny Winrow as Director


Boal & Co has appointed Danny Winrow as director, as the company continues to build on the legacy of chairman and founder Gary Boal. A chartered accountant and qualified actuary, Danny has been instrumental in the company’s actuarial consultancy team since August 2014 having taken the lead with a number of clients. His new role will see him working alongside Chief Executive...

Boal & Co Acquires Zurich Trust Limited


Boal & Co* has acquired Zurich Insurance Group's Jersey-based Trust business, Zurich Trust Limited**. The deal has been approved by the Jersey Financial Services Commission. The purchase of Zurich Trust Limited marks the expansion of Boal & Co pension trustee services into Jersey following a recent expansion of its operations in Gibraltar. The Trust company will be renamed 'Boal & Co...

Boal & Co Strengthens with Three New Appointments to Professional Team


Boal & Co is strengthening its team with three new appointments as the company looks to build on significant growth during 2014. As the company approaches its 20th anniversary at the turn of the year, Managing Director Gary Boal says the new recruits will add considerable strength and depth, and play a major role in absorbing the client growth across the...

Boal & Co Appoints Trevor Smith as Regional Director Asia - Based in Hong Kong


Boal & Co has today announced that Trevor Smith has been appointed to the new position of Regional Director, Asia. Smith, who is based in Hong Kong, will represent Boal & Co’s activities in all key markets throughout the Far East. Smith has a UK pensions background and is qualified as an Associate of the Personal Finance Society and Certified Financial...