The Plan is a defined contribution savings arrangement established under a Trust Deed and Rules in the Isle of Man. The Plan is registered with the Isle of Man Financial Services Authority (the IOMFSA) as an Authorised Scheme under the Isle of Man Retirement Benefits Schemes Act 2000 (the Act) and Retirement Benefits Schemes (International Schemes) Regulations 2001 (the Regulations).

The Plan is approved as tax exempt by the Assessor of Income Tax for the purposes of the Income Tax Act 1970.

The Plan is covered under the Isle of Man Life Assurance (Compensation of Policyholders) Regulations, which ensure that in the event of a life assurance company being unable to meet its liabilities to its policyholders and subject to the Regulations, the Policyholders Compensation Fund will pay to the Plan Member a sum equal to 90% of the amount of any liability of the insurer under the Plan.

The Isle of Man Scheme operates globally, which means it provides protection to Plan members no matter where they reside.

The primary role of the IOMFSA is to ensure that the Trustee and your employer manage the Plan in accordance with the Act and the Regulations in addition to the Trust Deed and Plan Rules. Additionally, the IOMFSA is able to intervene in the running of the Plan in the event that the Trustee, employer or any professional advisors fail in their duties.

They can be contacted at: Insurance, Pensions & Fiduciary Services Division, Isle of Man Financial Services Authority, PO Box 58, Finch Hill House, Douglas, Isle of Man, British Isles, IM99 1DT.

If you have a complaint you should refer the matter to your employer in the first instance. However, if you are not satisfied with the handling of your complaint, believe you are being denied any rights or benefits under the Plan, or wish to refer the complaint for further consideration, you may file a complaint or claim in writing with the Trustee.

If the claim is denied, in whole or in part, the Trustee will notify you in writing, giving the specific reasons for the decision, including specific reference to the pertinent Plan provisions and a description of any additional material or information necessary to affect the claim and an explanation of why that material or information is necessary.

The written notice will also advise you of your right to request a review of the claim and the steps that need to be taken if you wish to submit the claim for review. To file a complaint, claim or dispute, please contact the Trustee.

The Plan is a long-term investment. All investment involves risk and it is important that you understand the value of investments and any income derived from them may go down as well as up as a result of market and currency fluctuations. The value of your Plan is not guaranteed and past performance is not a guide to future performance.

The value of your Plan could fall below the value of the amount of contributions paid in and you might not get back the full amount you invested. The benefits you receive from your Plan will depend upon a number of factors including the value of your Plan when you decide to take your benefits, your individual circumstances and any tax rules that may be applied. Tax rules may change in the future.