The main purpose of a retirement policy such as the
Sagicor Millennium Saver or Registered Pension Saver is to provide you with a
lifetime retirement income and, as we are living longer, to ensure that your
financial resources are sufficient for your needs. Such products are
well-suited to self-employed persons and to individuals wanting to supplement
their retirement income from their employer or their National Insurance Scheme.
The Registered Pension Saver was introduced to encourage you to save for your retirement.
Why the Pension
You can contribute any amount to your plan
Contributions are allowed up to the end of
the year in which you become 65 years old
Interest paid on the RRSP is not subject to income tax at the
time the interest is earned and rates are fixed for five-year periods*
As the plan-owner, you’re allowed to withdraw
10% of the purchase price of a first home, up to $25,000 from the RRSP tax-free
At maturity, you can withdraw 25% of your
You can purchase an additional Total
Disability benefit. This entitles the insured persons to receive waived
payments of the premium from Sagicor in the event of total disability.
rate is guaranteed for a period but will fluctuate over time.
The Millennium Saver and Pension Saver are two of the many solutions
offered by Sagicor to help you reach your goals. Ask a Sagicor Advisor how
this product can be a part of a wise approach to your complete financial