In the event of a participant’s death, the participant’s spouse or other beneficiary must notify the Pension Fund Office and submit a copy of the participant’s death certificate as soon as possible. In the event of a beneficiary’s death, notify the Pension Fund Office and update your beneficiary designation.
We have moved!
Our office has relocated to Hotel's House, East Bay Street, i.e. between the Shell East Bay Street Service Station and the Bank of Nova Scotia, East Bay Street branch. You may contact the Pension Fund Office at 322-2262 or 502-4200.
In January of 2008, the Board of Trustees of the Bahamas Hotel Industry Management Pension Fund introduced a new benefit that allowed participants to voluntarily defer a portion of their current salary as a savings for retirement. If you chose the Voluntary Employee Contribution Account (VECA), you would have set aside additional (savings) money to supplement the monthly pension benefit provided by your Employer through the Pension Plan at retirement. The Trustees granted 2.5% interest for VECA contributions in 2008, 7.0% in 2009, 6.0% in 2010, 2.0% in 2011, 4.5% in 2012, and 5.0% in 2013. All are extraordinary interest rates in today’s investment world. If you have questions regarding the VECA, you can call the Pension Fund Office or see your HR representative today.
Keep Your Info Up to Date
Any time is a good time to update pension information or change beneficiaries.