Secondary Pensions information event

Employers in Alderney are being invited to learn more about secondary pensions at an event at The Georgian House on Victoria Street on Monday 4th December.

The session will provide an opportunity to find out more about Your Island Pension (YIP) and employer’s obligations under the new secondary pensions legislation.

YIP is separate from other States functions and governed independently by Sovereign Pension Services (CI) Limited. Other eligible pension schemes are available.

Employers with 26 or more employees must offer a compliant pension scheme from July 2024. Smaller employers will be phased in over the following 15 months.

Nicky Forshaw, Director of the Revenue Service and Sean Gillease, Managing Director of Sovereign Pensions, will provide a secondary pensions presentation between 12.30pm and 2pm in the Orangery. To attend this presentation, please book in advance as spaces are limited.

Sean will also be available to meet separately with anyone interested in finding out more about YIP. These meetings can be booked anytime between 10am and 12pm and 2pm and 3pm in the Walpole Room. To reserve your slot with Sean, please email here.

Nicky Forshaw, Director of the Revenue Service said: “This is a great opportunity to find out more about secondary pensions legislation, which is coming into effect from 1st July 2024.

“Even if you are an employer that already provides a pension scheme, please do come along and have a chat with us because it is essential that you check with your pension provider that your scheme will comply with the new Law.”

Sean Gillease, (pictured) Managing Director of Sovereign Pensions said: “All employers are going to need a suitable pension plan for their staff.

“YIP provides an approved, affordable, compliant secondary pensions scheme that will be available to everyone from January 2024. If you would like to know more about the scheme, contact us to book a slot and I’ll be delighted to answer any questions you may have.”

Guidance on secondary pensions is also available on the States of Guernsey website at . Further details on Your Island Pension are available here.