75 Front Street, Hamilton HM 12 - Phone: +1 441 2963600 - Fax: +1 441 2956209 - E-mail: info@fmgroup.bm - Mailing Address: P.O. Box HM 836, Hamilton HM CX, Bermuda

May 2020 -Recent Announcement to the Pension Legislation

A recent announcement was made by the Government of Bermuda regarding upcoming amendments to the pension legislation

A recent announcement was made by the Government of Bermuda regarding upcoming amendments to the pension legislation allowing existing pension members to access a portion of their pension account.

Please note this amendment has not come in to effect yet.  But the staff at Freisenbruch-Meyer are diligently working with The Pension Commission and the Government of Bermuda to ensure when they are ready to go LIVE, so are we!

Here are a couple questions to help you know if you are eligible.

Are you eligible for the onetime $12,000 emergency pension refund?

1. Are you a member of a defined contribution pension plan or local retirement product?
If you answer yes – then you might be eligible.

2. Are you under the age of 65 years and not retired?
If you answer yes – then you might be eligible.

Are you eligible for a 25% lump-sum refund?

1. Are you a member of a defined contribution pension plan or local retirement product?
If you answer yes – then you might be eligible.

2. Are you at least 65 years old and retired completely from the workforce?
If you answer yes – then you might be eligible.

We are asking all pension members who are interested in applying for the refund to ensure they are also ready.

This means making sure you have all the information we will require to process your request.

Make sure you have the following:
1. Valid government issued photo identification
2. Bank account number in your name
3. Email address

Freisenbruch-Meyer is creating a streamline process to ensure that when we are given the ‘green light’, we will execute your request quickly and efficiently.

– Carla Seely is the Vice President of Pension, Life and Investments at Freisenbruch-Meyer.

If you would like any further details, please contact her at cseely@fmgroup.bm or call +1 441 297 8686.

Click here to learn more about our Pension products.

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