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ARTICLE · 17 FEBRUARY 2014

Pensions: Flexible Approach

Nancy Chien, senior associate, International Private Client Group, Bedell, says that significant changes are on the horizon for pensions in the Island.

JerseyEmployment and HR

Nancy Chien, senior associate, International Private Client Group, Bedell, says that significant changes are on the horizon for pensions in the Island.

Nancy Chien: 'Flexible retirement describes the situation where members of pension schemes are allowed to commence their pension payments while continuing to work.'

Flexible retirement will allow workers the flexibility to choose how many hours they work and how they use their pension savings.

The current Jersey pensions regime feels like a 1970s bungalow that has undergone a few licks of paint to cover up the cracks. However, the government has now decided that the Island needs to catch up with modern times as the existing framework is no longer fit for a 21st century workforce.

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