Regulatory Alerts2022-06-09
Review of the Pension Transfer Landscape in the Bailiwick Thematic Review 2021-2022
The Guernsey Financial Services Commission conducted a thematic review of pension transfers from 2019 to 2021 to assess licensee conduct, transfer volumes, and regulatory compliance. The review found that while most transfers were approved, significant delays occurred in over half of cases, and fee structures varied widely with some firms submitting inaccurate data. The Commission mandates that providers process transfers promptly, explain any delays exceeding 60 days, and ensure fees do not create barriers to members transferring their assets.
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