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 Keep Working After I’ve Reached Age 65?

You may apply for and receive a pension at age 65 even if you are still working in covered employment at the time. Your employer will no longer make contributions to the Fund on your behalf, and you will stop earning additional pension credits. You may also choose to defer payments and receive an increased pension once you retire. In this case, your employer will continue to contribute to the Fund and you will continue to earn additional pension credits.

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