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ARTICLE · 23 FEBRUARY 2022

Bermuda National Pension Scheme, Occupational Pensions

Carey Olsen
Carey Olsen
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The National Pension Scheme (Occupational Pensions) Amendment Acts 2019, 2020 and 2021 together introduced extensive amendments to the National Pension Scheme (Occupational Pensions) Act 1998, most of which came into force ...

BermudaEmployment and HR
Stephanie Bernard
Stephanie Bernard
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The National Pension Scheme (Occupational Pensions) Amendment Acts 2019, 2020 and 2021 together introduced extensive amendments to the National Pension Scheme (Occupational Pensions) Act 1998, most of which came into force on various dates between 30 December 2019 and 5 July 2021. Below is a summary of the most important of those amendments.

All registered plans

  • The amendments to the legislation that would otherwise require non-Bermudian employees (unless exempted) to be enrolled in a registered pension plan have yet to be brought into operation.
  • The definition of "self-employed person" does not distinguish between Bermudians and non-Bermudians such that the legislation applies to any person who is self-employed.

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