Government of Jersey outlines proposed private pensions
regulations: Implications for lay trustees.
The Government of Jersey announced in December 2020 that the
phased introduction of regulation of private pensions provided by
local financial services businesses is to proceed following two
consultations on the matter in 2018 and 2019
Phasing
Whilst neither the regulations nor a timetable for their
introduction has been published, it has been proposed that the
implementation of such regulation will take place over three
phases:
1. Phase 1: addressing what the
Government describes as "key consumer harms" in the
market (such as high service provider fees and unsuitable advice by
regulating investment businesses service providers);
