Guernsey Pension Data Returns Due Next Year
by Jason Gorringe, Lowtax.net, London
18 December, 2017
Guernsey's financial services regulator, the Guernsey Financial Services Commission, has reminded pension schemes and gratuity schemes of their obligation to submit quarterly and annual data returns next year.
With effect from the quarter ending March 31, 2018, quarterly scheme returns must be completed by schemes subject to the Pension Licensees (Conduct of Business) and Domestic and International Pension Scheme and Gratuity Scheme Rules (No.2) 2017. Licensees will have a period of two months to complete and submit the data to the Commission.
In addition to quarterly returns, schemes must also complete an annual scheme return, with effect from December 31, 2018. Licensees will have a period of six months from the scheme year-end to complete and submit this data to the Commission. To assist licensees, the Commission has indicated it will provide a mock-up of the annual scheme return in January 2018 to allow licensees a full year to prepare and collate this data.
The Commission says that all returns must be submitted via its online submissions portal, and a bulk upload will be available for licensees with multiple schemes.
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