Guernsey Assembly approves public sector pension reforms

Guernsey Assembly approves public sector pension reforms

The States of Guernsey Assembly of 16 February has voted in favour of proposals for the reform of public sector pensions.



A package of reform measures voted for by Prospect members within the Association of Guernsey Civil Servants and Guernsey Electricity branches last summer, have taken a further step towards implementation as States' Deputies have approved the proposals and draft scheme rules at their February meeting held yesterday.

The new scheme provisions - which include a move from final salary to a career-average accrual on an improved accrual rate, and the introduction of robust risk-sharing and governance measures - are now expected to be implemented with effect from 1 March 2016.

It remains to be seen whether a legal challenge and potential threats of industrial action being brought by Unite (whose members voted to reject the proposals) will impact the implementation, so this long-running issue, first started in 2010 may not be fully resolved quite yet.