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Supplementary Pension Programme

The Supplementary Pension Programme (SPP) is a long-term investment for persons in permanent employment with a saving capacity capable of sustaining the monthly contribution.  The Programme has been approved by the Inland Revenue Department as a Registered Retirement Savings Plan and therefore up to $8,000 of contributions to the programme is tax-free.

Terms and Conditions

  • The commitment to join the programme is fixed and irrevocable.
  • The commitment is for ten (10) years or fifteen (15) years.
  • Monthly contributions are payable at the beginning of each month.
  • Arrears are not permitted in the programme.
  • Failure to meet three (3) monthly comtributions will lead to the automatic termination of membership in the programme and FICS will refund payments made subject to deduction of an administrative fee of $250.
  • All contributions will be paid into a separate Pension Fund which will be invested at and managed by FICS.
  • FICS guarantees that interest accumulated by the Fund will be more than adequate to enable the Fund to honour its obligations to contributors.
  • This plan has been approved by the Inland Revenue Department as a Registered Retirement Savings Plan and therefore, up to $8,000 of contributions to the programme is tax-free.

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