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The Island’s contributory pension scheme faces an uncertain future, according to population figures released yesterday by the Department of Statistics. Bermuda’s population is projected to age this decade, even with resident numbers projected to drop...

Bermuda’s National Pension Scheme requires fine-tuning, independent MP Terry Lister told Parliament. Pointing out that when the scheme was implemented in 2000, “we were not all at the same place”, the Sandys South MP said in Friday’s House of Assembl...

Bermuda’s biggest pension schemes are underfunded by around $3 billion, the SAGE Commission reported yesterday. And it said people would have to pay more into schemes, while the retirement age should increase to 68 — and up to 70 if necessary. And SA...

Just 140 private pension plans had contributions suspended under a scheme introduced by the former Government. In a bid to provide some relief to employers and their workers who were struggling economically, employers and their staff were allowed to ...

Census reports for 2000 and 2010 show that the number of Bermuda’s population aged 65 years and over (our “seniors”) increased from 6,722 in 2000 to 8,683 in 2010. This is an increase of 29.17 percent in ten years. During that period, the number of s...

Hard-up tenants facing “imminent” eviction can now tap into their pensions to pay off rent arrears after the Senate gave the green light to new legislation. The National Pension Scheme (Financial Hardship) Amendment Regulations 2011 allow people acce...

The three percent pension increase is “woefully inadequate” for seniors because of rising healthcare costs, according to the One Bermuda Alliance. Opposition MPs told the House of Assembly the additional funds would mean very little to seniors as mos...