Guernsey is an established centre of excellence for international retirement benefit plans.
Guernsey provides a one-stop shop for the establishment, administration and management of these plans - home to a broad range of pension providers from bank-owned institutions to independent boutiques as well as specialist legal, tax and actuarial advisers.
Further, Guernsey has almost 50 years’ experience in international retirement benefit plans, which few of our competitors can match.
Modern regulatory regime
Guernsey has a modern and principles-based regulatory regime which conforms to international standards.
In 2001, Guernsey became one of the first jurisdictions in the world to regulate pension providers, which has created a culture of professionalism not found elsewhere. Further, in 2017, Guernsey introduced pension scheme rules which further enhance member protection.
Channel Islands Financial Ombudsman
Since it was established in 2015, the Channel Islands Financial Ombudsman (CIFO) has included within its scope complaints about pensions providers, intermediaries and managers based in Guernsey.
Individuals and small business, whether they are in the Channel Islands or not, can use CIFO to settle complaints left unresolved by their pension provider.
Full suite of products
Guernsey firms provide specialist pensions services and a full range of retirement benefit solutions.
Some plans are designed for globally mobile employees who may build up pension rights while working in a number of jurisdictions.
Other types of plans provide individuals and corporates with a solution in locations where little or no pension legislation exists or pension providers are limited. Such areas include Africa, the Middle East, Russia, and South America.
Either type of plan can be tailored to fulfil the objectives of the scheme sponsors and members.