Get Ready: Seamless Secondary Pensions Submissions for Guernsey and Alderney are Here!
We’re excited to announce the launch of our new secondary pensions functionality for Guernsey and Alderney. This game-changing feature allows you to manage pension schemes and submit Government returns directly through Offshore Payroll, all in line with the new mandatory secondary pensions legislation.
Clients Are Already Raving! One of our clients, who’s has recently onboarded to Offshore Payroll, told us: “Wow… this is a thousand times better than our current process!”
We’re thrilled to see such great feedback and can’t wait for you to experience the same ease and efficiency.
What You Need to Know
To ensure a smooth transition, we’ve outlined the key fields you’ll need to update for your Guernsey and Alderney employees using our effortless imports function:
- Date of Birth
This will now be mandatory for all employee records as it is required in the new secondary pensions returns.
- Occupation Code
You’ll need to add a 4-digit occupation code for each employee to meet the new Government reporting requirements. Check out the link for more details: https://www.gov.gg/ocodes
- Opted Out Until Date
If an employee opts out of the pension scheme, you’ll need to provide an “opted out until” date, which will be submitted as part of the Government return. More details are available on https://www.gov.gg/Secondary-Pensions
- Deferred Until Date
While this field isn’t part of the official return, it’s handy for keeping track of deferral periods. See more information on deferred enrolment [https://www.gov.gg/article/198147/SP1—Notices-of-Enrolment-and-employers-obligations]
- In Full-Time Education
A simple tick box will let you mark employees in full-time education, and this will be included in your pension return.
Be Fully Prepared with Our User Guide
To help you get up to speed, we’ve created a comprehensive suite of user guides with all the steps you need to take for a seamless transition to secondary pensions.
We’re committed to making your payroll process as easy as possible!
September 19, 2024
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Meet our Team – Luke Smith
Luke is a Chartered Accountant who began his journey with the Big-4 firm KPMG before taking the lead in developing Purpose, an award-winning accountancy business based in Jersey. Luke is now Managing Director of Offshore Payroll and a Partner in a successful, boutique Private Equity firm that has created a portfolio of local high performing, synergistic, professional services businesses across industry sectors. With over 24 years’ experience in accounting, finance, and business evolution Luke acts as an advisor to the boards of over 30 owner-managed businesses in Jersey with turnovers of £1M
In 2019, Luke spotted a unique opportunity and led the acquisition of Offshore Payroll Limited, determined to assemble a dynamic team that could take the company’s growth and technological capabilities to the next level. His passion for innovation drives him to continuously explore new ways to leverage technology, to streamline and add value to businesses.
December labour market report published by Statistics Jersey
Statistics Jersey have today published the December 2020 Labour Market report. Jersey’s labour market report is published every six months and covers key aspects of the job market for both the private and public sector.
In December 2020:
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the total number of jobs was 60,000. There was an annual decrease of 1,380 jobs (2.2%) since December 2019, the largest December decrease since at least 1998
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there were 51,470 jobs in the private sector. This was an annual decrease of 1,790 jobs (3.4%), its largest recorded decrease in December
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there were 8,530 jobs in the public sector. This was an annual increase of 400 jobs (4.9%)
At a sectoral level:
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seven sectors saw annual decreases in jobs; the largest decrease was of 1,040 jobs in hotels, restaurants and bars, which was the second-largest change recorded in any sector to date (with the largest being the annual decrease of 1,700 recorded by this sector in June 2020)
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the annual increase of 400 jobs in the public sector was driven by an increase of 330 in the number of Government of Jersey (GOJ) core employees (permanent and fixed term employees), which includes staff employed in response to the COVID-19 pandemic
Source: Government Jersey website (December Labour Market Report Published (gov.je))
Guernsey and Alderney secondary pension scheme delayed
The introduction of a government-approved secondary pension scheme for Guernsey and Alderney has been delayed.
The scheme was due to be established in 2022 after being approved by deputies, but Brexit and Covid-19 have caused a delay.
No alternative start date has yet been proposed. A delay was not unexpected given the challenges of the past year, and that it could help businesses already hit by the pandemic prepare for the scheme’s implementation.
Local employers will be obliged to offer a pension scheme for staff if they do not do so already, and to make contributions of up to 3.5% of salary.
The default scheme is to be administered by a UK auto-enrolment pension provider specialist, but many businesses are setting up new schemes with local providers.
Details of the delay are set out in Employment & Social Security’s Social Security Contributory Fund Accounts 2020, due to be discussed by the States on 16 June.
Source: Guernsey press Website (Secondary pensions held up by Covid and Brexit | Guernsey Press)
“a modern and progressive payroll package”
Submitting the CER at the click of the button is brilliant!!! My manager could not believe it, no more manual calculations.
Running Jersey payroll is now faster, it generates various payroll reports that we find helpful. I would happily recommend.
Mumba Chomba – Management Accountant
