Guernsey businesses with one employee are required to have a Secondary Pension scheme in place by 1 October 2025. But what if that employee is also a shareholder and intends to opt out?
The Revenue Service has drafted a Statement of Practice, to be considered by the Committee for Employment & Social Security on 30 September. The current proposal is that, if the employee notifies the employer of their intention to opt out of auto-enrolment before the operative date, there will be no requirement for the employer to establish a pension scheme.
We will update this page as soon as the Statement of Practice has been finalised and published by the States of Guernsey.
If you have questions about Secondary Pensions or need help with payroll or compliance, please get in touch.