The Pensioneer Trustee Company (Guernsey) Limited

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The Guernsey RATS was established in 1991, providing a pension scheme aimed at Guernsey residents, approved by the Guernsey Income Tax Office. Just like any other pension scheme, the main purpose of a RATS is to offer a way of saving money to provide an income on retirement. However, the RATS also has a number of other very appealing benefits


The Funded Unapproved Retirement Benefit Scheme (FURBS) is a very specific type of retirement benefit scheme characterised by having fewer restrictions – but fewer tax advantages – than many other schemes. 


30th June 2017 saw the implementation of the Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules 2017 (the “Rules”). These were drafted by the Guernsey Financial Services Commission (GFSC), with an amended and updated version issued in August. Pensions are, of course, a topical issue in Guernsey and the local financial community is heavily involved in offering a very wide range of products, from International Pension Plans and Gratuity Schemes to Bespoke and multi member RATS. So, for Guernsey pension providers the legislation offers a boost in creditability in the premier International market place


Retirement planning is essential. And whether you choose to do this via a pension scheme, tax efficient savings, property or investment, it’s not something that is advisably left until the last minute. According to government statistics, three out of four people won’t qualify for a full Guernsey pension so, for most, a private pension plan is going to be key to achieving retirement goals. 


The Guernsey Retirement Annuity Trust Scheme (RATS) has proven a great success as an aide to occupational and individual retirement planning, so it was inevitable that a Jersey RATS would follow. Offering appealing flexibility, cost effective savings solutions and a greater choice of investment options, RATS is a standard pension plan with some attractive additional benefits. However, Guernsey RATS are not quite the same beast as Jersey RATS – there are some key differences to note.


For the globally mobile, making retirement plans can be tricky. It’s one thing to work all your life in a company in the UK, accruing pension that pays out a predictable amount at an expected time. It’s quite another to try to put the same arrangement together if you’re working outside your home country, perhaps across different locations, and you’re frequently on the move. Whether an executive or a contractor, pension provision is still an essential and this is where International Pension Plans (IPP’s) really come into their own. The major benefit of setting up an IPP is that it provides a single, centralised plan for anyone who is working outside of their home turf. So, why don’t more businesses use them?


Various personal finance surveys over the past decade or so have revealed that when it comes to pension provision, Guernsey like many places still has a long way to go. According to the Guernsey review of Personal Tax, Pensions and Benefits in 2015, the States of Guernsey found that 60% of the working age population do not have any private pension provision and intend to rely solely on the current state pension. State safety nets are not what they used to be either – three out of four people will not qualify for a full Guernsey pension, according to government statistics and whether the State scheme will also be available in decades to come is questionable.


The Guernsey Banking Deposit Compensation Scheme (GBDC) has been in force since November 2008. It was designed to offer protection for anyone depositing money with Guernsey Licensed Banks, no matter where in the world they might be based. Protecting retail depositors is the scheme’s main focus. For IPP and RATS members, there are some key points to note.


Corporates who continue to expand their operations in lucrative emerging markets such as Africa, Asia, Eastern Europe, Middle East and South America now need to consider how best to establish and maintain pension plans in these locations. They are increasingly looking at IPP’s to help fulfil this need.

Over the last 30 years Guernsey has been at the forefront of International Pensions. During this time various types of plans have evolved because of different legislation and through innovation in the market place. Guernsey has a substantial number of pensions plans and its international pension and benefits offering, continues to expand.


The semi-annual get together of the Global Association of Pension Services (GAPS) was hosted in Guernsey by The Pensioneer Trustee Company (Guernsey) Limited Thursday, 19th May 2016. As one of the leading International Pension Plan providers, we were very privileged to have been given the opportunity of hosting this event in Guernsey and to meet up with our industry friends during the day’s events. 


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The Pensioneer Trustee Company (Guernsey) Limited
Ground Floor, 10 Lefebvre Street
St Peter Port, Guernsey
Channel Islands GY1 2PE

T +44 (0) 1481 743760

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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.