Regulatory Alerts2004-01-01
Retirement Benefits Schemes (Domestic Schemes) (General Administration) Regulations 2004
The Treasury of the Isle of Man issued these regulations to establish the general administrative framework for domestic authorised retirement benefits schemes under the Retirement Benefits Schemes Act 2000. The rules mandate specific requirements for scheme authorisation, including the submission of annual returns and the maintenance of a public register, while strictly regulating the appointment, qualifications, and conduct of professional advisers such as auditors and actuaries. Additionally, the regulations impose detailed obligations regarding information disclosure, record keeping, contribution management, and the governance of bank accounts and investments to ensure scheme integrity and member protection.
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