Pensions

If you have employees then you know that employee satisfaction and successful business results go hand in hand. We believe that helping your employees secure their financial future will keep your employees – yours!

BAF Pension Plans have performed outstandingly for the past several years, despite the global economic downturn. As the oldest, most trusted name in insurance in the Bahamas, our management team has a vast wealth of experience in investing and managing funds. 

 What is a Pension Plan ?
Pensions plans can be Corproate-sponsored or personal. In a Corporate Pension Plan, your employer makes contributions toward a pool of funds set aside for your future benefit. The funds are managed by a company such as BAF and  invested on your behalf,so that you can receive benefits when you retire. 

There are two main types of pension plans: defined-benefit plans and defined-contribution plans.
In a defined-benefit plan, your employer guarantees the amount you will receive when you retire, regardless of the performance of the underlying investment pool.
In a defined-contribution plan your employer makes predefined contributions for you, your final benefit will depend on the performance of your investment fund.

Why do you need a pension plan?

A pension plan is a great way to secure your future. Personal pension plans put you in control of your own retirement and  are always a good idea, even if you  have a corporate-sponsored pension plan. Oftentimes, you may need to supplement iyour employer's plan with your own to ensure that you can live comfortably when you retire.