Guernsey Assembly approves public sector pension reforms

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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.