Guernsey States members urged to set pension example
States members could see a reduction in their pay if they choose not to save it in a pension scheme.Deputy Peter Roffey is proposing they lose 2% of their pay if they do not invest part of it into a Your Island Pension account.Currently States members do not get a pension, instead receiving a 15% uplift in pay.The incentive to save has been suggested to encourage States members to set an example to the rest of the island.
Deputy Peter Roffey has put forward an amendment to recommendations which followed an independent review of States' members' pay.The panel had recommended States members continued to have a 15% uplift in pay instead of receiving a formal pension.But Deputy Roffey is suggesting 5% of this uplift be paid into a Your Island Pension account, with States members who opt out receiving only a 13% uplift.In the amendment, Deputy Roffey said that while the States was encouraging islanders to save for a pension "it seems very odd for the States not to be leading by example in this area."The amendment will be debated in March.
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