The Pensioneer Trustee Company (Guernsey) Limited

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News Blog

EFAMA, the representative body for the European investment management industry, has issued recommendations for the first-of-its-kind European-wide pension product.


Retirement crisis looms for most UAE residents due to lack of retirement savings plan.

About eight out of 10 people (83 per cent) in the UAE are now feeling anxious that their gratuity pay won't be sufficient to meet their retirement needs, according to a new study by Zurich International Life.


The UK’s income tax and National Insurance Contributions (NIC) rules for the treatment of an internationally mobile employee (IME) receiving employment related securities (ERS) will change from 6 April 2015.


Providing employees with a formal retirement savings plan will significantly improve a company’s ability to attract and retain the best staff, according to research released today by Zurich International Life.


The Merchant Navy Officers Pension Fund (MNOPF) is the latest scheme to utilise a Guernsey captive to hedge £1.5bn of its longevity risk, reports Captive Review.

The MNOPF has worked with Towers Watson to complete the transaction which used MNOPF IC Limited - a cell within Towers Watson ICC - to reinsure the risk with Pacific Life Re.

"Longevity was a significant, concentrated risk for the fund and, having considered the different options available, the trustee board decided that Towers Watson's Longevity Direct structure was the most cost effective and efficient structure," said Rory Murphy, MNOPF Chairman.


Pension experts have reacted favourably to HM Revenue & Customs’ draft legislation proposing full flexibility for QROPS, describing the news as the “biggest change” to the schemes “since they came into play”.


HM Revenue & Customs has responded to UK government discussions on giving the same rights to qualifying recognised overseas pension schemes as to traditional UK-based pensions.


The Government wants to seek views from businesses, employees and share scheme experts on some of the important issues raised by the proposal for an ‘employee shareholding vehicle’” (HM Revenue & Customs and HM Treasury consultation on the new employeeshareholding vehicle).


For the second year in a row, the Russian government has decided to freeze the portion of pension contributions allocated for investment. According to the Ministry of Labor and Social Protection, these funds will be used to finance current pension payments.  


HM Revenue and Customs (HMRC) has confirmed that on April 1, 2015, it will withdraw a tax dispute settlement facility for businesses that used an Employee Benefit Trust (EBT) before April 6, 2011.


 

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Regulatory Information

The Pensioneer Trustee Company (Guernsey) Limited is licensed by the Guernsey Financial Services Commission under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 and subject to The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No.2) 2017.