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
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.

To be announced

How Do I Earn Credits Towards My Pension?

You earn credits by working for an employer who contributes to the Plan. You earn pension credit for each weekly pay period that you work in covered employment. Once you’ve worked 40 weeks in a year, you’ve earned one full pension credit for that year (which is the most you can earn in a year). The maximum number of pension credits you can earn in a lifetime is 25. We keep track of your credits throughout your career, from the day your Pension Plan participation starts until the day it ends.

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