News
June 9, 2023
Anna Gray We are delighted to announce the appointment of Anna Gray as a director within our Guernsey fiduciary business. Anna has extensive experience in the pensions and trust industry. She brings with her a wealth of knowledge and experience, with over 15 years’ practising as a lawyer in the UK and subsequently Guernsey. During…
May 16, 2023
By Michelle Galpin at BWCI michelle.galpin@bwcigroup.com “there are some concerning trends emerging.” Covid news still features prominently in the headlines on a regular basis, despite it being more than three years since the first Covid lockdown was announced. The Continuous Mortality Investigation (“CMI”) analyses the death data in England and Wales published by the Office for…
April 21, 2023
by John Martin (Please contact John on 01481 728432 or email john.martin@bwcigroup.com if you wish to discuss this article or anything relating to secondary pensions). It will soon be a mandatory requirement for all local businesses – regardless of industry or size of business – to enrol Designated Employees in an Approbated Pension Scheme and…
April 6, 2023
By Mike Freer at BWCI mike.freer@bwcigroup.com Guernsey’s Secondary Pensions system is edging closer to being launched. After the States debate was unexpectedly deferred for 6 months from May to November last year, a draft of the Secondary Pensions law¹ was finally debated and agreed at the end of 2022. This was followed by an…
April 5, 2023
April 5, 2023 BWCI is encouraging employers not to delay their workplace pension arrangements, after the States have confirmed the implementation date of 1 July 2024 which will result in the biggest transformation to retirement savings the island has ever seen. The States had formally approved the legislation at their November 2022 meeting but the…
March 31, 2023
By Mark Colton at BWCI mark.colton@bwcigroup.com “The sheer scale of the problem caught pension schemes off guard” The now infamous “Mini Budget” in September 2022 sparked chaos in UK financial markets. The headlines were filled with dire warnings of pension schemes becoming insolvent, yet many schemes’ funding levels have actually benefited substantially as a result of…
March 29, 2023
Our Commitment: Net Zero Greenhouse Gas Emissions by 2030 BWCI’s carbon footprint reduced by 64% between 2019 and 2021 While BWCI has been adopting principles for sustainability in its business for a number of years, we formalised these in 2021 as part of our climate pledge to achieving Net Zero Greenhouse Gas Emissions by 2030.…
March 27, 2023
By Michelle Galpin at BWCI michelle.galpin@bwcigroup.com “the risk of incurring an uncapped liability will be a cause for concern” The Government of Jersey has consulted on its proposals to extend the remit of the Office of Financial Services Ombudsman (“OFSO”) to pensions. It is also proposing to introduce a UK Pensions Ombudsman style framework for pension-related…
March 23, 2023
By Matt Stanbury at BWCI matt.stanbury@bwcigroup.com “challenging questions from auditors!” With so many companies having a 31 December financial year end, the pension scheme accounting season has been in full swing for several weeks now. The changes in economic conditions over the last year mean that defined benefit pension schemes’ liabilities are looking materially different from…
March 22, 2023
Business owners have hundreds of things to keep track of, so that’s why at BWCI Pension Trustees Limited (“BWCI”) we keep our pension plans straightforward and transparent. In fact, the burden on employers is much smaller than most anticipate, and the benefits to workers are often life changing. The key word in all of this…
March 22, 2023
by John Martin (Please contact John on 01481 728432 or email john.martin@bwcigroup.com if you wish to discuss this article or anything relating to secondary pensions). After 10 years in the making, secondary pensions have been approved by our deputies at the November States meeting. In addition, the legislation has now been formally enabled from 1…
March 22, 2023
by John Martin (Please contact John on 01481 728432 or email john.martin@bwcigroup.com if you wish to discuss this article or anything relating to secondary pensions). A seismic shift is coming to the local pensions landscape following the States decision to give secondary pensions the go-ahead and formal confirmation that the legislation has been enabled. The…