New Rat rules take effect at end of the year

By December 9, 2015News

Revised rules for retirement annuity trusts will now come into force from 31 December, the Guernsey Financial Services Commission has announced.

The commission pulled a set of rules at a late stage following a review and has made one change to the new list.

The revised rules were issued for comment following a consultation last year.

The objective of the review was to determine whether changes could be made to the rules on the pension product which might reduce costs and open up opportunities for the development of self-invest pensions without any reduction in the protection available to a member.

The objective of the review was well received by industry and the public at the time.

 

Via: Guernsey Press, Wednesday 9th December 2015