Pension/Gratuity Scheme Quarterly Return to become an Annual Return

4th October 2021

The Commission became the regulator of pension providers in the Bailiwick in 2017. Since then, it has gathered and analysed information from pension providers as part of its regulatory oversight function, including through Form 126 Fiduciary – Pension Scheme or Gratuity Scheme Quarterly Return, which is currently completed by fiduciary licence holders forming, managing or advising on pension schemes or gratuity schemes.

The Commission regularly reviews the information that it gathers from licensees with a view to ensuring that requirements remain appropriate and proportionate. In this case, the Commission has decided that a return every quarter is no longer necessary, and the Form 126 is to be retired and be replaced by Form 128 on an annual basis, as at 30 June each year. The information required on the new Form 128 will be the same as that requested on Form 126.

The last quarterly Form 126 return was for information as at 30 June 2021. The first Form 128 will be for information as at 30 June 2022, for submission by 31 August 2022, and annually thereafter. Note that the existing annual return, Form 127, will continue with the same content and time periods as now.