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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...

Most Caribbean jurisdictions have public sector defined benefit (“DB”) pension schemes that are fully financed by their governments. As with those Caribbean jurisdictions, the sustainability of Bermuda’s public sector pension plan, which operates on ...

Government’s pension fund for civil servants remains under review, but its cost of living adjustment, suspended last year, will stay off the table “until further notice”. Presenting the actuarial report into the Public Service Superannuation Fund (PS...

Finance Minister Bob Richards insisted last night that Government would not write off any of the $35 million in state pension arrears owed by delinquent employers – despite comments to the contrary made by Premier Michael Dunkley. Mr Dunkley told the...

More than $35 million in pension arrears is owed to the public purse from delinquent employers — $20 million more than in 2008 when tougher penalties were brought in for those breaking the law. A Ministry of Finance spokesman admitted yesterday that ...

Premier Michael Dunkley has admitted Government must do a “better job” of collecting state pension contributions from the thousands of delinquent employers who owe $35 million in arrears. The Royal Gazette revealed this morning that the size of the d...

Finance Minister Bob Richards claimed yesterday that his explanation to seniors for why state pensions can’t be increased was taken out of context, insisting that those who heard him speak would say: “This guy Richards really wasn’t as blunt as he ap...

Seniors have been told by Finance Minister Bob Richards that they won’t be getting an increase in their state pension because “money does not grow on trees”. Age Concern said yesterday that the news, delivered by the Minister during a question-and-an...

Senior statesman Quinton Edness has issued a scathing indictment of Government’s decision to freeze cost-of-living increases in Government employees’ pensions without freezing their own. However, this was said not to be the case by a Ministry of Fina...