Log In

The voluntary retirement age could be increased to 67 as the Bermuda Government grapples with its “underfunded” pensions plan. David Burt told MPs the assets of the Public Service Superannuation Fund was valued at $574.1 million in March 2017, compar...

Opposition leader Jeanne Atherden questioned during the Budget debate of finance why government staff could not draw cash from the Contributory Pension Fund in times of hardship. David Burt, the Premier and Minister of Finance, said his government h...

Seniors will see their pensions rise at the same rate of inflation for the rest of the Progressive Labour Party’s tenure. However, Charles Jeffers, an advocate for the elderly, warned that seniors would continue to struggle because of the soaring cos...

There has been a lot of discussion recently about pensions. Trust me, there will be a lot more in the future. Most government pension systems are no more than a Ponzi scheme — a promise of money at a future time in exchange for payment today. You are...

Dear Sir, My neighbour, a cleaning lady who has worked for two families for 30 years, went to the Department of Social Insurance to check on her pension situation. While there, she discovered that one of her employers had not contributed to her accou...

The Government is looking into occupational pensions to ensure the system remains “responsive”, but Charles Jeffers of Age Concern questioned “how in the world they are going to produce” with less people working in Bermuda to contribute funds. A dec...

A 5 per cent increase in seniors’ pensions, which many believe was expected to begin this month, will not take effect until September. The Ministry of Finance clarified the position today after senior citizens queried why they had not received the ca...

For the second time in three months, some new pension applications have not been processed in time for payment. As with the June delay, a Ministry of Finance spokesman said that the holdup stemmed from the Department of Social Insurance’s temporary o...

Legislation paving the way for the first pensions and benefits hike in five years for more than 12,000 seniors has been approved by senators. The Contributory Pension Order 2016 will take effect from next month and involves increases of 5 per cent fo...

Dear Sir, It’s our money. The news that Bermuda national pension changes may be in the offing may be good news for seniors, provided that the authorities give us the right to access our money fully. That is a significant change that was recently mad...

A review of pension arrangements by the Bermuda Government could adversely affect employees’ eventual windfalls, according to statistician Cordell Riley. Speaking after the Throne Speech, Mr Riley claimed that “what has not been said is more importan...