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Resources for pension plan and investment members

Manage your pension plan or investments
We're here to help you manage your investments, stay informed, and make confident decisions about your financial future.
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Manage your investments using our portals

As we continue to bring BF&M and Argus investment solutions together under the Allshores name, our online portals and fund performance reports remain separate. Please select the relevant portal to manage your investments and view your statements.
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Access fund performance reports and newsletters

Our latest investment fund fact sheets and pension newsletters are available through our online portals.
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Your income options at retirement

At retirement, you get to choose how to turn your savings into income. The Bermuda Pension Act provides two main options — each offering a different balance of flexibility, control, and guaranteed income.

Drawdown

  • Keeps your retirement savings invested while you draw out income over time
  • Flexibility to choose how much you withdraw and how often (within regulated limits)
  • Potential for your income to continue growing
if investments perform well
  • Funds remain exposed to market fluctuations, so income levels cannot be guaranteed and may vary over time

Annuity

  • Converts your retirement savings into a guaranteed
income for life
  • You'll receive regular, fixed payments throughout
your retirement
  • No need to manage your investments or worry
about outliving your savings
  • Less flexibility, with options and outcomes depending
on the annuity option selected

Small additions make a big difference over time

Even small, voluntary contributions can have a meaningful impact on your financial future. By adding a little extra to your pension plan or investment account when you can, you give your savings more time and opportunity to grow, giving you more flexibility and confidence in the years ahead.

Make a voluntary contribution

If you’re part of a group pension plan through your employer, you can contact your employer and request that they make a voluntary contribution on your behalf through a payroll deduction.

If you have an individual retirement or savings account, please call us at 1-441-298-0888 to find out how to make a voluntary contribution into your account.
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65 or older? Small withdrawals are simple

Small pension withdrawals

If you’re 65 or older and your pension balance was $50,000 or less when you reached 65, you may be eligible to withdraw the full amount — whether or not you’ve retired. Contact us to learn more or submit your request.

25% lump sum refunds

If you’re 65 or older, you may be eligible to withdraw up to 25% of your current pension balance as a lump sum. This option is available for defineid contribution pension plans and approved local retirement products. You must submit an application directly to the Pension Commission. 

Looking for support with your pension plan?

Please contact our member services team, and we’ll be happy to help.
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Frequently asked questions

Whether you are required to enrol in a pension plan depends on your employment status and your employer’s pension plan rules.

In Bermuda, Bermudians and the spouses of Bermudians are generally required to participate in a registered pension plan, subject to eligibility rules of the Pension Act.

Bermuda registered pension plans are designed to provide income during retirement, and a full cash payout at retirement is not permitted, except in limited circumstances.

Lump sum withdrawals may be permitted in certain circumstances, including:

  1. A retiree may take up to 25% of their pension account balance as a lump-sum cash withdrawal at retirement, with the remaining balance used to provide income.
  2. If your total pension account balance is $50,000 or below at retirement, you may withdraw the full amount as a lump sum.

If you need help understanding your options or transferring pension funds from a previous employer’s plan, please call us at 1-441-298-0888.

The minimum pension contribution is 5% from the employee and 5% from the employer.

If you are enrolled in a group pension plan through your employer, one simple option is to increase your contributions through a payroll deduction. You can ask your employer to withhold an additional amount or percentage from your paycheque and remit it to Allshores along with your regular pension contributions.

If you would like to make a voluntary contribution to your workplace pension plan or an individual retirement account, please call us at 1-441-298-0888.

If you’re leaving your current employer, and you’re currently enrolled in a registered pension plan, your required contributions will generally be locked in. In most cases, you may choose to:

  1. Transfer your funds to a prescribed retirement product
  2. Transfer your funds to your new employer’s pension plan

Lump-sum payments are only available in limited circumstances, permitted under the Pension Act.

If you’re leaving your job, you should ask your HR representative for a Termination Form. This form allows you to indicate what you would like to do with your pension funds. Both you and your employer must complete this form.

Yes. Under the Pension Act, you may continue contributing to your pension plan after age 65 if you remain employed and choose to defer drawing retirement income. Your options may vary depending on your pension plan rules.

Under the Pension Act, the normal retirement age is generally 65. When you reach normal retirement age, you may choose to begin drawing retirement income from your pension account, even if you continue working. Once you start receiving retirement income, contributions to the pension plan must stop, and no further benefits will accrue.

Your options for receiving retirement income benefits are:

  1. An annuity (guaranteed retirement income)
  2. Drawdown from your pension account (subject to prescribed maximum annual limits)

If you need help understanding your options, please call us at 1-441-298-0888.