Pension

The Guernsey Financial Services Commission (“The Commission”) recognises that cyber and information security is a high priority risk area for organisations of all sizes. The Commission considers that all financial services firms and prescribed businesses in the Bailiwick of Guernsey should have a structured approach to managing cyber and information security. Cyber and information security should...

Two-factor authentication (“2FA”) functionality is now available on the Online Submissions Portal. This is in line with the Commission’s commitment to continually improving the security of licensee data. If your organisation promotes the use of 2FA, then please ensure that your portal users opt in to use the functionality. A guide with instructions is available here.

To enable the Guernsey Financial Services Commission ("the Commission") to regulate and supervise Pension Schemes and Gratuity Schemes ("Schemes"), the Commission requires 1 relevant Licensees 2 to complete the following regular data returns: With effect from the quarter ending 31 March 2018 the Commission will require the completion of a quarterly scheme return for Schemes within scope of the...

During 2017, the Fiduciary Supervision Policy and Innovations Division undertook a thematic review of pension arrangements in the Bailiwick.

As part of our ongoing commitment to World Investor Week, a global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection, the GFSC is pleased to publish a Pensions Helpsheet, which can be found here. The helpsheet highlights a number of areas which consumers should focus on when considering their pensions arrangements. Gillian Browning, Director of...

The Commission has today published “ The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No. 2) 2017” (please click here), which replaces the earlier version, published last month, which required some minor amendments.

Following the consultation which took place during May 2017, the Commission has today published The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules 2017 ("the Rules") which will come into effect on the 30 June 2017. These rules accompany the new regulatory and supervisory framework for pension schemes which has been put in place through...