Searches and Hires

States of Guernsey begins search for provider for new retirement plan

States of Guernsey is conducting a preliminary search for a provider for the incoming voluntary retirement system, a spokeswoman said.

The Guernsey Social Security Department developed an outline of a secondary retirement system in 2015, which was proposed in efforts to encourage savers residents to increase their retirement savings so they won't rely solely on the state pension and tax-funded welfare benefits later in life. A year later, the States of Guernsey, which is Guernsey's parliament, approved the principles for an introduction of a Secondary Pension Scheme, subject to further research and an economic impact assessment of the proposal, according to the States of Guernsey website.

"The process is about the early due diligence of potential providers to ensure that any potential providers have the appropriate experience to provide the scheme on the scale expected. If accepted, they will then be invited to tender for the provision of the services later this year. That invitation to tender will include a detailed specification of the services required," the spokeswoman added.

Firms can apply via European tenders website Tenders Electronic Daily. Proposals should be submitted by Sept. 29, the spokeswoman said. The contract is expected to begin Jan. 1, 2020, and last five years.