From the start of the year the scope has extended to employers with six staff or more.
Almost 300 applications have so far been made to set up secondary pensions under the States-approved Your Island Pension scheme, which Employment & Social Security president Peter Roffey described as ‘encouraging’.
The island currently has more than 19,000 people receiving the ‘old age pension’, with expenditure rising to nearly £170m. last year and more expected over the next few years. The qualifying age for the States pension rises to 66 from March as part of an agreed gradual increase to 70 by 2049.
You need to be logged in to comment. If you had an account on our previous site, you can migrate your old account and comment profile to this site by visiting this page and entering the email address for your old account. We'll then send you an email with a link to follow to complete the process.