Right for you if:
You want to save up to 20% of your annual income towards your retirement while receiving tax-deferred earnings on the amount.
ScotiaBRIDGE is recognized under the Pensions Act, 2004 as an Approved Retirement Scheme. This product enables individuals to accumulate tax-deductible contributions during their working years and to invest these contributions until they retire.
To become a ScotiaBRIDGE plan member, you must not be an active member of an Approved Superannuation Fund or another Approved Retirement Scheme. However if you are self-employed or an employee of a company that doesn't offer a Pension Plan, and you are between the ages of 18 - 68 as well as being a Jamaican resident, you are eligible to become a ScotiaBRIDGE plan member.
On becoming a ScotiaBRIDGE plan member your contributions are invested in units of an Investment fund. Upon reaching retirement age, you must purchase a Payout Annuity or another approved income plan.
ScotiaBRIDGE Frequently Asked Questions
Scotia Insurance is the marketing name for Scotia Jamaica Life Insurance Company Limited which is a member of the Scotia Group Jamaica Limited. **Earnings are tax-free during the accumulation period of the plan.