One of the Isle of Man’s leading independent providers of trust, fiduciary and corporate services has received approval from the Isle of Man Insurance and Pensions Authority to become an Isle of Man-registered pension schemes administrator.

Kreston Pensions (Isle of Man) Limited, a sister company of Kreston IOM Limited, offers international retirement plans for both individuals and companies, drawing on the wide experience of in-house pension professionals. The addition of pension services will complement Kreston’s comprehensive corporate, trustee and fiduciary services provision.

Chief Executive Officer of Kreston IOM, David Pope said: ‘This is an essential market place for our business to be active in. Participation in pensions increased in 2013 for the first time since 2006 and represented the largest rise since records began in 1997.

‘Generally individuals are able to freely move from jurisdiction to jurisdiction and the freedom of movement of capital has eased dramatically over the last two decades. We feel we will bring a quality of service that will complement this increased demand and aid those individuals when choosing the most secure and appropriate jurisdiction for their pension funds.  Our approval is the first of a number of new developments we will be delivering to the marketplace in 2014/15.’