Sandie Lyne and Rachel Desanges, of Ogier, have made available for download their article “Guernsey: employment law update”, published on Lexology. The article begins as follows:
A secondary pension scheme – “Your Island Pension” – was due to be set up in Guernsey and Alderney from January 2022. However, plans have been delayed due to the challenges of Brexit and the covid-19 pandemic.
The scheme will require employers in Guernsey and Alderney to offer a pension scheme for their employees, if they do not already provide one, and to make contributions of up to 3.5% of their employees’ salary. Employers can join the Your Island Pension scheme, which will be administered by a UK pension provider specialist, or arrangements may be made to provide an alternative qualifying pension scheme.
While some businesses will appreciate this additional time to prepare, many businesses are already making their own arrangements with local pension scheme providers.
A revised implementation date has not yet been announced.
Click here to see the full article: “Guernsey: employment law update”
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.