Secondary pension scheme delayed
Payroll co-funding scheme to close in September 2021

Secondary pension scheme delayed

A secondary pension scheme – "Your Island Pension" – was due to be set up in Guernsey and Alderney from January 2022. However, plans have been delayed due to the challenges of Brexit and the covid-19 pandemic.

The scheme will require employers in Guernsey and Alderney to offer a pension scheme for their employees, if they do not already provide one, and to make contributions of up to 3.5% of their employees' salary. Employers can join the Your Island Pension scheme, which will be administered by a UK pension provider specialist, or arrangements may be made to provide an alternative qualifying pension scheme.

While some businesses will appreciate this additional time to prepare, many businesses are already making their own arrangements with local pension scheme providers.

A revised implementation date has not yet been announced.

Payroll co-funding scheme to close in September 2021

The government has confirmed that the payroll co-funding scheme, which has provided financial support for Guernsey businesses during the covid-19 pandemic, will be closed on 30 September 2021.(1)

The travel and tourism support package provided to businesses affected by the border restrictions, (eg, event management, visitor accommodation, passenger transport and tourist attractions) will also close at the end of September 2021.

The separate Visitor Accommodation Scheme and the Visitor Attraction Scheme will continue until the end of March 2022.

The government has indicated that while most of the on-island economy is now able to trade at normal or near-normal levels, the situation will be monitored and reassessed in light of any changes in local conditions.

For further information on this topic please contact Sandie Lyne, Rachel DeSanges or Fay Warrilow at Ogier by telephone (+44 1481 721 672) or email ([email protected], [email protected] or [email protected]). The Ogier website can be accessed at


(1) For further information please click here.