Since 1991, Retirement Annuity Trust Scheme ("RATS") pensions have been available on the island. RATS are a flexible personal pension plan designed especially for Guernsey residents. They are structured as a Trust between the member (the person doing the saving) and their Trustees. There are special rules that govern what a RATS can and cannot do, in addition to the favourable tax treatment given to contributions that the member makes into the scheme on a regular basis.

Bespoke RATS v Multi-member RATS
A bespoke RATS can be structured so that a member (and their partner if they so wish) has their own scheme dedicated to them. This is highly flexible and designed in the best interests of that named member.  The Granite 'multi-member' RATS pension offers an alternative approach to a Bespoke RATS providing a similar benefit although with lower running costs.  It does this by creating one scheme for many members - the Granite RATS is open to any resident of Guernsey although each is treated independently within in. 

If high costs and too many confusing choices have previously put you off starting a pension of your own, the affordable Guernsey Granite multi-member RATS could be for you.


Invested Funds
The Granite RATS invest only in a small number of funds managed by Ravenscroft Investment Management Limited and Ravenscroft Limited (collectively "Ravenscroft"). By restricting the investments and subsidising our costs with a share of Ravenscroft’s annual management charges we are able to keep fees to a minimum.

About Ravenscroft
Ravenscroft is an independently owned investment services group with offices in Guernsey, Jersey the UK and the Isle of Man. The organisation is well established and highly respected, employing more than 120 people and with £7.45bn of assets under administration for both private and institutional clients.

Additional Support
In our experience, good tax advice is a service rarely provided with low cost pension schemes and so in addition to the accessible approach, we provide our customers with advice from the Crossways Trustees Limited and Collenette Jones expert teams which will help to make the pension scheme as tax efficient as possible.  We are delighted to answer any questions a member may have on how best to contribute funds to and withdraw funds from the scheme. 

As well as providing a disciplined approach to saving for your retirement, a pension scheme can be utilised as a tax savings scheme too through Collenette Jones.

Next steps for your Guernsey pension?
You can read more detail about the Granite multimember RATS pension, including the current investment fund options here on our website. If you have any questions please contact Krista Doggett (krista@cjco.gg) Krista will be happy to. guide you and offer further information on how the Granite RATS pension scheme can help you realise your retirement plans.

Collenette Jones
We are a Guernsey based firm of Chartered and Certified Accountants providing a high level of service to Bailiwick of Guernsey clients. We provide a total suite of accounting, assurance, tax, company formation and administration, payroll, pension and trust services under one roof.

Please contact us for a no obligation discussion of your accounting needs. Discover more about our services and talented local staff team.


Links
The Collenette Jones Multi-member Retirement Annuity Trust Scheme - Granite RATS 
The Collenette Jones Bespoke RATS

Key Calendar Dates - for accountancy on Guernsey
Accountancy - Frequently Asked Questions
Contact - Collenette Jones