Divorce

If you get a divorce, submit an Add/Delete Dependents Form and copy of your divorce decree to the Pension Fund Office as soon as possible after your divorce is effective. In addition, you may need to update your beneficiary designation.

As of 1 January 2011, participants can voluntarily defer a portion of their current salary to the Pension Fund to save for retirement. Participants can elect to set aside additional money to supplement their monthly pension benefits. Read the details in the announcement letter.

Your Voluntary Employee Contribution Account (VECA) will be credited with an interest premium of 7.0% for year ending 31 December 2009. Read the details in the announcement letter.

Anytime is a good time to update pension information or change beneficiaries.

Wednesday, 19th October 2011: 31st Anniversary Pensioner’s Luncheon—Crown Ballroom A, Atlantis Paradise Island. Look for your invitation in the mail.

Reminder! December 2011 is the month for Pensioners to verify. You must confirm your eligibility to receive monthly pension payments for the year that follows. The Certificate of Continuing Eligibility form is available online and at the Pension Fund Office beginning December of every year.

What Happens If I Stop Working in Covered Employment Before I Retire?

As long as you have earned at least 10 pension credits, you are entitled to receive a deferred pension at age 65 no matter when you stop working in covered employment. If you stop working before you’ve earned 10 pension credits, you may qualify for a withdrawal/termination benefit. If you make voluntary employee contributions to the Pension Fund and leave covered employment before you’ve earned 10 pension credits, you will receive a refund of your employee contributions, plus any interest earned on those contributions, paid as a lump sum.

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