Global Vision, Local Wisdom
Global Vision, Local Wisdom
On 29 June the UK Prudential Regulation Authority (PRA) published a consultation paper (CP 12/23) on proposed changes to the Solvency II regime within the UK
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BWCI is encouraging employers not to delay their workplace pension arrangements, after the States have confirmed the implementation date of 1 July 2024 which will result in the biggest transformation to retirement savings the island has ever seen.
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After 10 years in the making, secondary pensions have been approved by our deputies at the November States meeting. This is Guernsey’s biggest shake-up of the pensions industry in a generation. Over several years, thousands of islanders who do not have a workplace pension would be signed up for one.
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A seismic shift is coming to the local pensions landscape following the States decision to give secondary pensions the go-ahead. The most welcome part is that employers have a choice about which pension scheme to select for their workers. At BWCI Pension Trustees Limited (“BWCI”), we are trying to raise awareness of what it will all mean. Last month we looked at the secondary pension basics: Why? How? When? Who? And what? This month we wanted to answer some more questions from employers.
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