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… Read More »
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… Read More »
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.… Read More »
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… Read More »
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… Read More »