Boal & Co launches transformational group personal pension scheme
Building on the success of its range of Isle of Man trust-based personal pension solutions launched early in 2008, Boal & Co today launches ‘Rewards’, a new trust-based group personal pension scheme which provides Isle of Man employers with a comprehensive and modern vehicle to enhance their existing employee benefit package.
Rewards offers unprecedented investment access to over 6,000 investment funds from over 200 different investment managers, enabling advisers to select and define a unique range of funds suitable for the individual needs of companies and their employees.
With state-of-the-art online interactive access for employees, employers and advisers, Rewards streamlines the workload of HR departments, provides instant up-to-date valuations, access to fund and scheme information, and provides a co-ordinated platform for advisers to communicate with their corporate and individual clients. Rewards is wholly administered by Boal & Co in the Isle of Man.
Commenting on the launch, Boal & Co director Mark Kiernan said:
“Following feedback from some of the Island’s largest corporate financial advisers, Rewards has been developed from the ground up over the last 12 months to provide advisers, members and employers with a modern group pension solution. The Boal & Co team has worked hard to put together an Isle of Man pension platform, which takes full advantage of the recent pension changes introduced by Tynwald.
“Companies, members and advisers will all be able to avail of the enriched online functionality which has been put together by Boal & Co’s experienced team.
“We are confident that what we have developed will not only be a great solution for new schemes, but also for existing schemes held off-Island in legacy UK insurance products which do nothing for the economy of IoM plc.”
Boal & Co (Pensions) Ltd is registered with the Isle of Man Insurance and Pensions Authority as a professional schemes administrator. Boal & Co does not offer investment advice, which is instead available through selected local financial advisers.
Sandra Cardwell, Director at Edgewater Associates, said:
“We are pleased to support Boal & Co in this exciting new initiative which will enable Edgewater to further enhance our pension product offering to local clients. Furthermore, we anticipate that the product will be well received in the financial marketplace and look forward to generating additional new business as a result.”
David Wilkinson, CEO of the Island’s largest firm of independent financial advisers, MBL Financial, added:
“We have been working with Boal & Co for a number of years and we are really pleased to work with them again on what is a unique solution for corporate pensions. As a Manx company, MBL has served the Island for over 25 years and where possible endeavours to keep business local. Rewards is a perfect example of how local expertise can be used to take advantage of the subtle differences between UK & Isle of Man pension regulations for the benefit of the Manx public, and at the same time support the economy of the Isle of Man by keeping business and revenues on the Island.”
Boal & Co has been providing pension solutions to both local and international companies and individuals for over 15 years. Clients include some of the world’s best-known companies, including five ‘Fortune 500’ employers alone. Whilst Boal & Co now has pension clients in over 30 countries, the local Isle of Man market remains an important one for the firm, which is evidenced by the launch of Rewards.
Companies interested in learning more about Rewards are invited to contact their financial adviser or Boal & Co directly.
blog comments powered by