News
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…
March 20, 2024
By Anthony Brewer at BWCI anothony.brewer@bwcigroup.com “removing all headline investment risks for a well-funded scheme does not guarantee success” As discussed in my previous article “Pension surpluses – what now?”, many Defined Benefit pension schemes are now in a strong funding position following a dramatic rise in interest rates in recent years. This has led…
March 19, 2024
By Samantha Smith at BWCI samantha.smith@bwcigroup.com “data in the COVID-19 pandemic years is problematic” Actuaries use mortality tables daily to estimate how much to reserve for a liability that is contingent on a human life. In a pension scheme context, these liabilities include the benefits payable on death in service and retirement pensions. The data…
February 16, 2024
Claire du Feu We are delighted to announce the appointment of Claire Du Feu as the Head of Business Management within our fiduciary business. Focusing on driving customer-centric culture in organisations, Claire has had a successful leadership career in financial services for over 30 years. She has covered a broad range of roles including front…
February 13, 2024
The closing date for applications for the 2024 Bursary is 31 March 2024. The BWCI Group’s undergraduate Bursary Scheme has been specially designed to support local students wishing to study for a degree at university. As well as providing financial support, our bursary students will participate in a structured training programme during their summer vacations,…
February 2, 2024
Yes, who remembers DeLorean? BWCI Group are delighted to once again be Sponsoring the ‘Battle of the School Bands’. This year’s theme is ‘Back to the 80’s’ and the team from Thirst Music School have worked even more miracles! The sold out event offers young people between years 7 to 11 to represent their…
January 3, 2024
By Anna Gray at BWCI anna.gray@bwcigroup.com “a range of sanctions, including in the most serious cases, substantial fines and imprisonment for criminal offences.” This is a summary only. Legal advice should be sought to understand the position in relation to any specific circumstances. The new duties on employers to auto-enrol staff into a pension scheme…