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This information is being maintained for archive/historical purposes only.
It will not be updated.

 

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How can I be entitled to a refund?

A member of a pension fund can be entitled to a refund if the following conditions are satisfied:

  • A memberís employment is terminated.
  • That member ceases to reside in the Islands.
  • No contributions have been made to a pension plan by or on behalf of the member for a period of two years or more.

What will the refund include?

Under a defined contribution plan, a lump sum payment of an amount equal to not less than the amount of contributions made on or behalf of a member and the investment earnings on the contributions made under the pension plan. In the case of a defined benefit plan, the amount is a commuted value based calculation.

Last Updated: 2005-11-24