Millennium Saver

Whether around the corner or 20 years from now, your retirement should be something you’re excited for— not anxious about. Ensure a stable, comfortable future for you and your family whenever you choose to stop working and start living.

Download the Millennium Saver Brochure

overview

Enjoy the retirement you deserve
The Millennium Saver Plan is in an investment product created to encourage you to save more for your retirement.. It is available to policy holders in Barbados and the Eastern Caribbean and features two versions: Registered and Unregistered. 

benefits

Why Millennium Saver

The Millennium Saver is an attractive option. Here’s why:

  • You can contribute any amount to this plan
  • Contributions are allowed up to the end of the year in which you become 70 years old
  • Contributions are tax-free and can be deducted from taxable earnings [1] [2]
  • Interest paid is not subject to income tax at the time the interest is earned*
  • As the plan-owner you’re allowed to withdraw 10% of the fund each year [3]
  • At maturity, you can withdraw 25% of your funds tax-free. [4]
  • An additional Total Disability benefit can be purchased. This entitles the insured person to receive waived payments of the premium from Sagicor in the event of total disability.
 
[1] Subject to the country’s tax requirements
[2] Only available under the Registered version
[3] Only available under the Unregistered version
[4] Only available under the Registered version
 
 *Interest rate is guaranteed for a period but will fluctuate over time.
 

related products

Registered Retirement Savings Plan

Whether around the corner or 20 years from now, your retirement should be something you’re excited for— not anxious about. Ensure a stable, comfortable future for you and your family whenever you choose to stop working and start living.

Read More

Barbados Segregated Pension Fund

With our Segregated Fund, the premise is that you will be investing in an instrument that will allow you to ‘pool’ your money with other investors.
Fund units credited to you represent your proportionate stake of ownership in the segregated fund. Therefore, the value of the units issued to you is commensurate to your claim on the underlying assets of the Fund.

Read More