PROVEN ROCK Approved Retirement Scheme
PROVEN Rock Approved Retirement Scheme is a private pension arrangement that creates an opportunity for individuals who are not active members of a Superannuation Fund to formally save for retirement.
It allows members to make tax-deductible contributions of up to 20% of their annual income to the scheme. These contributions are invested and accumulate as tax-deferred earnings towards providing a pension at retirement.
In order to be eligible for membership in the PROVEN Rock Approved Retirement Scheme you must be compliant with the following:
A Jamaican resident between the ages of 18 and 69 years and fall in one of the following categories:
Be self-employed, or employed in a non-pensionable post, or do not otherwise contribute to an Approved Superannuation Fund or another Approved Retirement Scheme
On termination of employment, you have elected to transfer your pension benefits from an Approved Supperannuation Fund to the Scheme .
Elected to transfer your pension benefits from another Approved Retirement Scheme to the PROVEN Rock Approved Ritement Scheme.