6.7 Impact of Divorce Orders

The State regards pension assets as special assets worthy of enhanced protection. Pension benefits are not reducible, transferable or executable, except in the limited instances outlined in the Pension Funds Act and certain other Acts of Parliament. One of the...

6.5 Disability claims

Very few funds these days offer true disability benefits. These benefits are usually offered through a separate insurance arrangement. The rules of a fund must specify the action to be taken in the event of a member becoming disabled. The following options on...

7.4 Annual Disclosures

In addition to the general information, the following information must also be disclosed to pensioners and dependents of deceased members on an annual basis: The date of the annual disclosure.A statement that the annual disclosure must be read together with the...

7.3 Notification to Members of Specific Events

Notification to members must be given to members in the following special events and are considered in the subsection following: Fund restructuringWithdrawal from serviceRetirementDeferred benefitDeath A.  Fund restructuring Fund restructuring includes the...

7.2 Minimum Communication Requirements

Following extensive consultation and substantial agreement with representatives of the retirement fund industry, it was decided to improve communication between funds and their members by setting minimum disclosure requirements to which all funds had to adhere. These...