Who will be affected by the new pension system?
Public Sector workers who are members of the current defined benefit pension arrangement.
When will the reform process begin?
The effective date for reform is April 1, 2016
How much will I be expected to contribute?
5% of your pensionable salary
Where will my contribution be placed?
In a special fund segregated from the general funds of the Government of Jamaica
Will I have the option to contribute to another pension scheme simultaneously?
No. All workers in Jamaica can only be a part of one pension arrangement
If I leave the service before retirement, will I be able to take my contributions and invest it in another pension scheme/plan?
No. Currently there are no provisions for portability. However, if you move within the public sector your service will be linked and you will receive a pension once you qualify
If I leave the service before I retire, will I get a refund of my contributions?
If you are not a vested member, i.e. have been in the service for less than 10 years, yes you will be able to get a refund of your contribution. However, if you are in the service for 10 years or more, you will be eligible to receive a deferred pension when you reach pensionable age.
Will civil servants be asked to continue contributing under the Pensions (Civil Service Family Benefits) Act?
No, there will be one contribution of 5%.
On death, will my dependents be eligible for a similar benefit to that which is now provided under the Pensions (Civil Service Family Benefits Scheme)?
Yes. Teachers will also get this benefit
Will lump-sum be paid on retirement under the new arrangement?
Yes, the option remains to take a lump sum on retirement
Will the retirement age change?
Yes, the normal retirement age will be gradually be increased to 65. However, the constable and special constable may retire after reaching the age of 60, or after the completion of 35 years of service.
Is there still an option for early retirement?
Yes, persons will still be able to retire early. For each year of early retirement your pension will be reduced by 1%.
Will I get pension increases? Update FAQ
Periodic reviews will be conducted to determine if pension increases can be granted. Update FAQ.
Sample Text for Demonstration
Sample Text for Demonstration