BWCI Ltd will be delivering an event to run through all the detail and options on Secondary pensions that come will become mandatory for larger employers from the 1st July 2024 and answer all your questions on the topic.
The Your Island Pension (YIP) scheme will be available on a voluntary basis from 1st January 2024 and secondary pensions will become mandatory for larger employers from the 1st July 2024.
From 1st July 2024, larger employers (those with 26+ employers) will be required to enrol their employees into an approved secondary pension. Over the following 15 months, there will be a phased approach for all other businesses to provide approved secondary pensions for their employees. The date from which this obligation will apply to individual employers will depend on the number of employees they have.
Full details of YIP and the mandatory requirements of the secondary pension policy will be made available to employers by July this year at the latest, providing 12 months to prepare. More information, including regularly updated FAQs, can be found at gov.gg/secondarypensions.
This event series is kindly sponsored by BWCI
