Divorce

If you get a divorce, submit an Add/Delete Dependents Form and copy of your divorce decree to the Pension Fund Office as soon as possible after your divorce is effective. In addition, you may need to 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.

VECA News
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.

The 34th Anniversary Pensioner's Luncheon will be held on Wednesday the 29th of October, 2014 at Atlantis Paradise Island Grand Ballroom at 12 noon.

What Happens If I Stop Working in Covered Employment Before I Retire?

As long as you have earned at least 10 pension credits, you are entitled to receive a deferred pension at age 65 no matter when you stop working in covered employment. If you stop working before you’ve earned 10 pension credits, you may qualify for a withdrawal/termination benefit. If you make voluntary employee contributions to the Pension Fund and leave covered employment before you’ve earned 10 pension credits, you will receive a refund of your employee contributions, plus any interest earned on those contributions, paid as a lump sum.

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