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Back to Pensions

Pension Plan Member Services

CONTACT OUR SPECIALIST

Manage your pension with CG

We provide a variety of services for CG Pension Plan members. Contact CG to find out more about:

Education and guidance

We believe in empowering our members through continuous education. Every year we offer review sessions and free investment seminars to assist members with retirement planning.

Additional voluntary contributions

Personal voluntary contributions to your pension plan are encouraged. The voluntary funds contributed by the member are never locked-in and can be accessed as needed. There is a general once a year withdrawal policy.

Individual pension plans

We offer a Local Retirement Product (LRP) that funds your future retirement.

Ready to retire?

Once you reach normal retirement age (normally 65 years of age), our specialist assists you with creating a suitable retirement plan. Early retirement may be taken if you are within ten years of your normal retirement date.

Tools to manage and grow your investment

Whether you want to invest conservatively or aggressively, we offer a vast selection of equity, bond, and balanced funds to suit every need. Our in-house Investment Policy Committee adopts a disciplined approach to investment strategy for our clients. This allows us to achieve competitive long-term returns across our range of products.

SEE FUND PERFORMANCE

Members can monitor their pension accounts, view fund information, and check fund performances, anytime and anywhere. Through our online portal, you can also change your personal or investment information and utilise our online calculators.

GO TO CUSTOMER PORTAL

Withdrawal and Termination

If You Have Terminated Employment

Should you leave employment you may transfer your accumulated balance:

To the pension fund of a new employer
To an approved local or overseas retirement product
For the purchase of a life annuity
To a financial institution pension plan, or
Apply for a refund of the non-vested balance

Financial Hardship Withdrawals

Applications may be made directly to the Pension Commission for one of the following conditions.

Mortgage or rental arrears
Educational expenses
Medical expenses
Funeral Expenses

To apply, contact the Pension Commission on 441-295-8672 or email info@pensioncommission.bm

Up to 25% Lump Sum Payment

If you are a pension plan or Local Retirement Product member who has attained age 65, with an accumulated balance of more than $50,000, you may request a one-time refund of up to 25% of your balance.

To apply, contact the Pension Commission on 441-295-8672 or email info@pensioncommission.bm (This is also applies retroactively.)

Small Pension Payment

If you have attained normal retirement age (65) , and have accumulated a balance of $50,000 or less in your defined contribution pension plans or local retirement products, a lump sum refund of your account balance may be requested. This also applies retroactively. 

Contact our specialist

Frequently asked questions

Yes, You can make Additional Voluntary Contributions to your account via payroll deductions.

You can change your beneficiaries or investment selections online or by speaking to a CG specliast. Login and click on the desired tab, My Investment Options or My Personal Information, to make the changes.

The National Pension Scheme (Occupational Pensions) Act 1998 in Bermuda mandates the pension for all employees aged 23 and older, who are Bermudian or the spouse of a Bermudian, and work 720 hours in a calendar year. If you are a non-Bermudian and your employer provides the pension benefit to all employees, you may be required to enroll in a pension plan.

Yes, the Contributory Pension Fund (Social Insurance) is separate from the Occupational Pension.

The normal retirement age is 65. At this point you may elect to continue working and accruing benefits or terminate from the group plan and receive your pension funds through a Draw Down facility, or annuity.

See the section on Withdrawal Options.

Once you have enrolled and your first contribution has been received, you will receive your online account set up instructions. After setting up your account, you can view your information or make changes online.

You can view our various Fund Fact Sheets, as well as fund performance information on this website.

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Pension Plan Member Services