A trust, fiduciary and corporate services provider has won the go-ahead to branch out into pension schemes.

The Isle of Man Insurance and Pensions Authority has given its approval to Kreston Isle of Man to become a registered pension schemes administrator.

Kreston Pensions, a sister company of Kreston IOM, will now offer international retirement plans for both individuals and companies.

Chief Executive Officer David Pope says it’s an essential market place for the business, with rising numbers of people participating in pension schemes.