Guernsey Association Publishes QROPS 'Best Practice'
Thursday, February 3, 2011
The Guernsey Association of Pension Providers has published a Code of Practice
as a guide for members on best practice in the establishment and operation of
Qualifying Registered Overseas Pension Schemes (QROPS) in Guernsey.
While the adoption of the code is not mandatory for Guernsey providers, GAPP is to publish
a list of providers that have implemented the 'best standards'. GAPP said the list
would be upgraded 'from time to time' with inclusion being at its
The Code is intended to apply to QROPS established
as Retirement Annuity Trust Schemes (RATS) although serveral of the principles
will also be relevant to QROPS established as Occupational Pension Schemes or
as Retirement Annuity Contracts.
GAPP has said that the Code, which can be viewed by non-members of the Association, takes into account best practice as at January
2011, and will be updated as regulatory and legislative changes, and evolution
in best practice, necessitate.