Global Vision, Local Wisdom
Global Vision, Local Wisdom
In the midst of a pandemic, with face-to-face trustees’ meetings discouraged, or even prohibited in some places, it is harder for trustees to carry out governance activities in the traditional way. It is important that a scheme’s governance arrangements remain robust at all times, as good governance is paramount to delivering good outcomes for pension scheme members; a well-run scheme is a well-governed scheme. Fortunately there are tools to help.
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We are delighted to announce that Amber Buckingham, who completed her final exam to qualify as an actuary last year, has been awarded the Worshipful Company of Actuaries’ Prize for the Pensions and Other Benefits exam.
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Packaged Retail and Insurance-based Investment Products, known as “PRIIPs”, can be complex financial structures which may not necessarily be well-understood by potential investors. To try to address this, EU regulations require every potential retail investor to be provided with a Key Information Document “KID” for any PRIIP they are considering.
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There has been significant interest from employers in both international pension plans (IPPs) and international savings plans (ISPs) in recent months. However, it is not always clear which type of plan best fits an employer’s particular needs. Both IPPs and ISPs are typically established in international finance centres – such as Guernsey and Jersey – to take advantage of enabling legislation, a favourable tax regime and good support services.
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The Bailiwick of Guernsey is now well into Phase 5c of the Exit from Lockdown framework. This means that selfisolation requirements are reduced for travellers coming from any areas with low levels of virus prevalence. The trade-off for reduced periods of self-isolation is an increased focus on testing. This new phase coincides with substantially increased testing capabilities, to a potential capacity of more than 2,000 tests a day. In addition, some of the testing will be on a supervised self-swab basis.
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