News
October 18, 2024
What’s changing? The States of Guernsey have recently announced that self-employed company owners currently paying self-employed social security contributions will automatically become employed for social security purposes from 1 January 2025 unless they opt to remain self-employed. This has a wide ranging impact on your pension arrangements which are highlighted below. If I change…
September 20, 2024
By Michelle Galpin at BWCI michelle.galpin@bwcigroup.com “offsetting” remains the most commonly adopted remedy” The value of pension benefits may be substantial, which is why they are taken into account when determining how the marital assets are to be carved up on divorce. The second edition of “A Guide to the Treatment of Pensions on Divorce” has…
September 18, 2024
By Mark Colton at BWCI mark.colton@bwcigroup.com “The world will have to decarbonize” Carbon Literacy is: Why is it important? So far, the world’s score card for delivering the Paris Agreement’s objectives looks a bit disappointing. Government initiatives are delayed, watered-down or faltering. All the more reason for individuals and companies to effect positive change. This is…
July 31, 2024
Left to right – Back row: Simon de la Mare, Karel Booysen, Lydon Corbin, George Edwards, Harry Brooke, Ryan Hardiman and Ben Lee Front row: Alan Prince, Eloise Desmond, Jade Allez, Tori Kettlety and Christopher Ferry (Alex Bushell, Volga Frunze and Matt Stanbury were unavailable for the photograph) BWCI is pleased to announce a total…
July 24, 2024
Matt Stanbury We are delighted to announce the promotion of Matt Stanbury to Partner. Matt joined BWCI in 2005 and qualified as a Fellow of the Institute and Faculty of Actuaries in 2012. Matt is an experienced pensions actuary who advises the trustees and sponsoring employers of local and international pension schemes. In addition to…
July 19, 2024
Stephen Ainsworth BWCI’s flagship Blue Riband pensions products have recently signed up to the Guernsey Association of Pension Providers (“GAPP”) Environmental, Social and Governance (“ESG”) Framework for Pensions. This framework recognises Guernsey pension providers which have embedded ESG into their processes and decision-making, an area BWCI has long viewed as a priority. The Framework introduces…
July 1, 2024
By Ryan Hardiman at BWCI ryan.hardiman@bwcigroup.com “guidance aims to bridge the gap between regulatory expectations and current practice” EIOPA¹ provided guidance on running climate change materiality assessments and using climate change scenarios in the Own Risk and Solvency Assessment (ORSA) process in mid-2022. However, the timing coincided with a particularly busy period for many European insurers,…
June 24, 2024
By Anthony Brewer at BWCI anthony.brewer@bwcigroup.com “an opportunity to refine and improve pensions provision” Guernsey’s secondary pensions, which is analogous to auto-enrolment introduced in the UK back in 2012, is being phased in from 1 July 2024. This notable change in the obligations for employers is expected to expand the scale of personal pension saving in…
June 19, 2024
By Claire Du Feu at BWCI claire.dufeu@bwcigroup.com “the hope is that it will engender a similar pensions savings culture on the island” As 1 July 2024 approaches, the secondary pensions compliance deadline for employers in Guernsey and Alderney with at least 26 employees, what can we expect from the introduction of the new legislation? What’s…
June 12, 2024
Michael McKay Michael joined the BWCI group in 2016 and was appointed a partner in 2017. He takes over from Diana Simon who has recently retired. He will continue in his role as CEO of the BWCI Group fiduciary business which focuses on the administration and trusteeship of domestic and international pension plans and will…
May 8, 2024
The countdown to the 1 July 2024 deadline for employers to implement secondary pension schemes in Guernsey is well underway. It’s not just a legal requirement, but a pivotal opportunity to enhance your employees & financial security in their retirement years. At BWCI Group, we have over 40 years of experience and offer a comprehensive…
March 21, 2024
By Carl Stanford at BWCI carl.stanford@bwcigroup.com “scheme governance a key focus of the new code” What is expected to be the final version of the UK Pensions Regulator’s (TPR) “General Code of Practice” was published in January 2024. The pensions industry has been waiting for some considerable time for this document, with an earlier draft…