Global Vision, Local Wisdom
Global Vision, Local Wisdom
BWCI are pleased to release Pocket Pensions guide for Guernsey, updated for 2020.
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We are delighted to announce that Amber Buckingham has just completed all of the exams required to qualify as a Fellow of the Institute and Faculty of Actuaries.
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Following collaboration with BWCI, the States of Guernsey Revenue Service have made available updated versions of the Practice Notes for approved pension arrangements. These Practice Notes summarise the tax approval requirements of Occupational Pension Schemes approved under section 150 of the Guernsey Income Tax Law and Retirement Annuity Trust Schemes (“RATS”) approved under section 157A of the Guernsey Income Tax Law. There are several key changes from the previous edition of the Practice Notes.
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Market crash: the same, but different - Financial markets have been predictably volatile over the last few months following the gradual realisation that there was the potential for the COVID 19 pandemic to be devastating, not only from a health perspective, but also due to the economic consequences.
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COVID-19 has dominated the news since late February 2020. We are all aware of the effect it has had on our lives already: I write this piece from my home a few weeks into Guernsey’s lock down. In such a rapidly developing situation it would be irresponsible of us to attempt to draw conclusions regarding COVID-19’s impact on the insurance industry specifically. Nevertheless, while insurers prepare for the oncoming claims, it may be useful to consider what the pandemic can teach us about risk management in the context of Solvency II, how insurers could plan for similar outbreaks in the future, and whether any lessons we learn could be expanded to help insurers plan for other extreme events.
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