Pensions Division

Under legislation, the Financial Services Commission is responsible for the supervision of private pension arrangements, trustees, investment managers and administrators.

This supervision will be directed from the Pensions Division of the Commission.

Legislation:

· * Financial Services Commission Act 2001 - An act that provides for the establishment of a body to be responsible for the regulation and supervision of financial services that do not involve deposit-taking.

· The Pensions (Superannuation Funds and Retirement Schemes) Act, 2004 - was passed by Parliament on September 21, 2004.

a copy of the Act can be purchased at the Jamaica Printing Services

77 ½ Duke Street, Kingston. Tel: 967-2250

This Act includes the following provisions :

· Registration and Approval of Superannuation Funds and Retirement Schemes

· Licensing of Administrators and Investment Managers

· Registration of Trustees and Responsible Officers

· Solvency standards

· Winding-up of Approved Superannuation Funds and Retirement Schemes

· Amendments to Trust Deed and Plan Rules

· Fit and Proper Criteria.

Regulations 2006: (as passed in Parliament on March 11, 2006 for one and March 29, 2006 for the remaining three)

· Registration , Licensing & Reporting Regulations

· Governance Regulations

· Investment Regulations

· Specified Pension Funds and Specified Pension Schemes

· Schedule 1 ( Forms, Certificates, Licenses & Registers)

· Schedule 2 (Requirements for Constitutive Documents & Register of Amendments)

· Schedule 3 (Information Folder )

· Schedule 4 (Fees)

Fit and Proper Forms

Ø Fit & Proper Questionnaire – Individual Trustees

Ø Fit & Proper Questionnaire – Corporate Entities, Covered Persons

(Shareholders, Officers, Directors, Responsible Officers & Representatives)

Registration Information

Police Report Request Form

Police Report Advisory

Confidential Report

Complaints

Submissions by the Ministry of Finance

· White Paper - The Reform of the Pension System in Jamaica (2001)

· Green Paper - The Reform of the Pension System in Jamaica (1999)

Pensions

The link to the Financial Services Commission Act will take you to the official website of the Ministry of Justice where the Laws of Jamaica are published. The information is provided by the Office of the Chief Parliamentary Counsel which has responsibility for maintaining those web pages.