A recent announcement was made by the Government of Bermuda regarding amendments to the pension legislation.

 

READY SET GO – we have been given the green light!

We are pleased to announce that the pension legislation allowing existing pension members to access a portion of their pension account is now LIVE effective June 1, 2020.

The staff at Freisenbruch are ready to help and have created a task force to serve you quickly and efficiently – so where do you start?

Step One – Are you eligible?

Thinking of applying for the $12,000 Temporary Refund?
1. Are you a member of a defined contribution pension plan or local retirement product?
If you answer yes – then you might be eligible.

2. Are you under the age of 65 years and not retired?
If you answer yes – then you might be eligible.

Thinking of applying for the 25% lump-sum withdrawal?
1. Are you a member of a defined contribution pension plan or local retirement product?
If you answer yes – then you might be eligible.

2. Are you at least 65 years old and retired completely from the workforce?
If you answer yes – then you might be eligible.

Step Two – How do you apply?

1. If you are applying under the $12,000 Temporary Refund

• a. Contact Freisenbruch directly and we will walk you through the process

2. If you are applying under the 25% lump-sum withdrawal

• a. Contact Freisenbruch directly to request a pension statement
  b. Once you have received an up to date pension statement, contact the Pension Commission to apply directly by emailing info@pensioncommission.bm or calling on 295-8672

To ensure we can assist you efficiently, we are asking all pension members who are interested in applying to make sure they have the following information available prior to contacting Freisenbruch:

1. Valid government issued photo identification
2. Bank account details
3. Email address

It is important to note that the physical office of Freisenbruch is currently closed to walk-in traffic, so it will be essential to have access to a computer and printer with scanning capabilities during this time.

For more information, please contact Freisenbruch at 296-3600 and press 1 for Pensions or email pensionmail@fmgroup.bm

Click here to learn more about our Pension products.