US DOLLAR LINKED ANNUITIES
We offer the facility to pay Jamaican dollar pensions in line with the US dollar exchange rate.
Sagicor Lifestyle is an Approved Retirement Scheme, wherein each participant’s contributions accumulate (subject to the prevailing income tax limits) until retirement. The accumulated funds will be used to provide lifetime income e.g. purchase an annuity which pays a monthly income at the specified retirement age or at the point of permanent disability, if earlier.
This is a personal retirement plan. Individuals will enjoy the same tax-free privileges as group pension plans. This product is suitable for self-employed individuals, contract workers and employees not in a pensionable position. The maximum contribution is 20%.
In order to qualify for this scheme, you have to be a Jamaican resident, at least 18 years of age, self-employed, contract worker or not contributing to any other Approved Superannuation Fund or Retirement Scheme. If you are no longer an active member of an Approved Superannuation Fund or Retirement Scheme you may transfer your accumulated balance to Sagicor Lifestyle.