partnership of BF&M Life Insurance Co. Ltd. and the Bank of Butterfield.

The Golden Accumulator Retirement Trust (GART) is said to combine the strength of insurance and retirement planning with the expertise of investment management and trust services.

GART offers complete segregation of pension funds, as the assets are held under a trust arrangement with Butterfield Trust (Bermuda) Ltd. and will be managed by Butterfield Asset Management Ltd., while administration and member communications will be handled by BF&M Life, a statement said.

The funds are to be invested in a select 300 offshore funds.

The new plan is expected to meet the requirements of Government's proposed National Retirement Scheme legislation, and provide four options for individual members of the plan.

Butterfield Trust, which currently is responsible for $1.4 billion in pension assets out of its total trust assets of $8 billion, will act as trustee for GART.

PENSION TEAM -- The combined teams behind the Golden Accumulator Retirement Trust include (from left) Judy Panchaud White, Carol Bassett and Adam Wong from BF&M Life, together with Peter Wignall and Alan James from the Bank of Butterfield.