Clerical Medical have announced that they will be withdrawing from the final salary pension products market by mid 2028. This means that the Clerical Medical Group Pension Contract will end and pension scheme trustees will need to make alternative arrangements for the actuarial and administration services currently provided as part of this contract. This affects… Read More »
By Holly Steele at BWCI holly.steele@bwcigroup.com “an effective way to support employee wellbeing” Group Critical Illness cover can add significant value to an employer’s wider portfolio of risk benefits, complementing arrangements such as group life assurance and group income protection. It provides employees with vital financial protection during life-changing health events, while offering employers an… Read More »
By Warwick Helps & Jonathan Kemp at BWCI warwick.helps@bwcigroup.com & jonathan.kemp@bwcigroup.com “favouring investment wrappers that offer predictability, flexibility and control over the timing of tax events” Investment flows into offshore bonds have increased substantially over the last year or so. The Financial Times reported that a record amount of £10.5 billion had been invested over the… Read More »
By Michelle Galpin at BWCI michelle.galpin@bwcigroup.com “The IOM FSA confirmed that it intends to base the new provisions on the UK funding requirements.” 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… Read More »
By John Martin at BWCI john.martin@bwcigroup.com “the employers’ minimum rate only increases every two or three years.” 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… Read More »