The Pensioneer Trustee Company (Guernsey) Limited
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What is the background to this case?
The case relates to a funded unapproved retirement benefits scheme (or FURBS) which is a Guernsey trust and holds assets of significant value, for the benefit of the sole member of the FURBS but also, if he dies, his wife. The husband and wife are going through a divorce in England and the wife sought to join the trustee into the family proceedings for the purposes of disclosure – i.e. she wanted to know what assets were vested in the trust.
Guernsey and Alderney residents will be automatically enrolled into a new pension scheme, under plans being drawn up.
The Guernsey social security department is looking for a provider for its secondary pensions scheme, which will encourage the population to save more towards their retirement.
Following a short but comprehensive consultation with industry, the Guernsey Financial Services Commission (GFSC) has issued The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules 2017, which came into operation on 30 June 2017.
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