Saltire Trustees’ Gary Durkin talking about pensions at the company’s offshore tax conference. (Picture by Tom Tardif, 1138740)

GUERNSEY pension providers’ adoption of a Qrops code of practice is a positive step forward in what is an expanding market, according to Saltire Trustees trust director Gary Durkin.

He was speaking on the subject of offshore pensions at the firm’s recent offshore tax conference and highlighted how having introduced a local code in relation to qualifying recognised overseas pension schemes could differentiate Guernsey in a positive way from competitor jurisdictions, although that was not its primary goal.

‘The introduction of the code of practice, in my opinion, was not a marketing exercise designed to encourage more Qrops business, but rather a positive step forward by the industry and practitioners to create common guidelines for local providers which, when adopted, will afford enhanced service levels, high levels of administration standards and, ultimately, better client relations.

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