Guernsey Regulations For Pension Schemes And Gratuity Schemes Now In Place
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.
The rules regulate both Guernsey fiduciary licensees that carry out pension scheme business or gratuity scheme business (i.e. the formation, management or administration of pension schemes or gratuity schemes) and Guernsey pension schemes and gratuity schemes themselves. The rules operate alongside other applicable legal, tax and regulatory requirements so, for example, the existing Guernsey income tax legislation and related rules in respect of pension schemes and the regulatory laws and codes of practice in respect of trust and corporate service providers continue to apply.
Read more
