News / Insights
BWCI Group is pleased to announce the acquisition of Polygon (Jersey) Limited and Polygon Pension Trustees Limited (Polygon Pensions), a Jersey based provider of personal and corporate pensions, trustee and administration services.
Clerical Medical have announced that they will be withdrawing from the final salary pension products market by mid 2028.
In Issue 2 2025 of Bandwagon we reported on the Isle of Man Financial Services Authority’s (IOM FSA) consultation on changes to the Retirement Benefits Schemes Act 2000. The proposed update to the pensions legislation focussed on strengthening the regulatory framework surrounding the funding and governance of defined benefit (DB) schemes. 11 consultation responses were received from a variety of industry stakeholders, including pension providers, insurers and legal advisers.
The initial stage of the implementation of Guernsey’s Secondary Pensions framework is now complete. This required all employers to put in place pension arrangements, satisfying the criteria, for all of their employees who fall within the scope of the legislation.
Back in 2018 the Isle of Man Financial Services Authority (IOMFSA) published a discussion document inviting feedback on its intention to enhance the regulatory framework for private pensions and their providers.
Historically, pensions regulation has made accessing any surpluses in UK Defined Benefit ("DB") schemes challenging, but the new bill intends to overhaul the framework.
The UK Chancellor’s speech on 29 January set out several strategies aimed at generating growth in the UK economy. One of the policy areas to be developed is to “introduce flexibilities for well-funded defined benefit schemes to release surplus funds where it is safe to do so”. The Chancellor went on to say that this would allow the surplus funds to be invested in the “fastest growing industries”.
