Retirement annuity schemes and retirement annuity trusts offer the only means by which islanders may make tax efficient savings, outside of employee contributions to an occupational pension scheme, to fund their retirement. However these schemes can be costly to run and offer little flexibility to islanders wanting to make their own investment decisions over their pension fund
The Commission is consulting on whether there are potential changes that could be made to the RATS Rules that could reduce pension costs and open up opportunities for the development of self invest pensions without any reduction in the protection available to a member.
Island residents, pension providers and other interested bodies should respond by completing the questionnaire which forms Appendix 1 to the Consultation Paper.
Please Click Here for the Consultation Paper
Please provide responses to the questions in the Consultation Paper by completing the questionnaire and returning it to the Commission by 24 October 2014.