New Regulations Ensure Gibraltar Maintains its Status as a
"Recognised" Jurisdiction for QROPS Pension Schemes
The Government of Gibraltar have published new pension
regulations that will take immediate effect.
The regulations cover three main areas:
- A new controlled activity of
establishing, operating or winding up personal pension
schemes;
- A new controlled activity of advising
on pensions (personal and occupational);
- Approval of personal pension
schemes.
Albert Isola MP, Minister of Commerce, stated: "I am
pleased to announce the introduction of these new pension
regulations which will ensure that Gibraltar retains the highest
standards of pension regulation and maintains its status as a
"recognised" jurisdiction for QROPS pension schemes.
Government has worked closely with both Gibraltar's financial
services regulator, the GFSC, and the local pensions sector, GAPFA,
to ensure Gibraltar's new pension regulations were in place
prior to the changes
