The article discusses the Financial Services (Occupational Pensions Institutions) Act that came into force in Gibraltar, implementing the EU Pensions Fund Directive. The Act focuses on occupational pension schemes, bringing important safeguards for members. The regulator’s role includes licensing scheme managers, establishing a regulatory framework, ensuring proper investments, providing members with essential information, and enforcing compliance. The Act focuses on transparency and accountability in managing these pension schemes. It grants members the right to access various financial information, including the scheme’s annual accounts and investment policies. The Act also enables the pan-European management of pensions, potentially making Gibraltar an attractive hub for international businesses with employees across the EU.
Read the article: Working to protect your future
(Article first published in The Gibraltar Magazine, 2007.)
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