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Uprating Policy for States Pension

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The Committee for Employment & Social Security - P.2020/11

pdf icon P.2020/11 P&RC Letter of Comment [780kb]

The States are asked to decide:

Whether, after consideration of the policy letter entitled 'Uprating policy for States pension', dated 20th January 2020, they are of the opinion:

1. To rescind resolution 1 on Article VIII of Billet d'État XVIII of 2015, setting the guideline for the annual uprating of the old age pension (soon to be renamed "States pension").

2. To approve that the guideline for the annual uprating of the old age pension/States pension, is an increase of RPIX plus one third of the real increase in median earnings.

3. To set, from 1st January 2021, the contribution rates for employers at 6.9%, as set out in Table 5 of that policy letter.

4. To set, from 1st January 2021, the contribution rates for employees at 6.8%, as set out in Table 5 of that policy letter.

5. To direct the Committee for Employment & Social Security to report back to the States no later than the last quarter of 2021, with further proposals to secure the financial sustainability of the Guernsey Insurance Fund.

6. To direct the preparation of such legislation as may be necessary to give effect to the above decisions.

The above propositions have been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.

 

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Uprating Policy for States Pension

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