Global Vision, Local Wisdom
Global Vision, Local Wisdom
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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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 draft of the Secondary Pensions Law was published on 3rd of October. This sets out some helpful details for employers planning what action they need to take to prepare for the introduction of Secondary Pensions in Guernsey
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Would you like to win a supply of art materials?
Then enter the BWCI GSO Camerata Family Concert competition to create an eye-catching poster for their next popular concert which features The Snowman and The Nutcracker. Use your imagination to show what adventures you would have with the characters.
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The BWCI Group are pleased that the Committee for Employment & Social Security has submitted a Policy Letter outlining further details of the introduction of secondary pension system including Your Island Pension (YIP), the governmentfacilitated secondary pensions scheme.
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