Temporary Access to Pension Refund–Application Form
Use this Application Form to apply for approval of a Pension Refund from your occupational pension plan or retirement product under the National Pension Scheme (Occupational Pensions) Act 1998. There are two parts to the application process: the submission of this Form and an ID verification process to be completed separately via a link that will be provided by BF&M.
PLEASE NOTE: (i) You are entitled to receive your refund within 20 days after your Application has been approved. (ii) Your Application Form must be completed in full and accurately, with the required accompanying documentation outlined in this Form, to avoid delays or rejection. (iii) Applicants who are members of a Defined Benefit Plan are not eligible.
Note: You cannot apply for a refund of money using this form if:
- The money you seek to have refunded is not governed by or under the National Pension Scheme (Occupational Pensions) Act 1998
- It is after June 30, 2021
- You have already applied and been approved for a temporary refund previously
- Part of the money you seek to have refunded represents voluntary contributions (no such approval is required to withdraw any voluntary pension contributions)
- You have sought pension refunds which, when added to this refund request, amount to more than $12,000 in refunds
- You have purchased an annuity. In such cases your funds are locked-in and may not be refunded
- You cannot apply for a pensions refund if you are 65 and older
1. Member Information
2. Payment Instructions
A. Local bank information (Complete for payment to banks in Bermuda)
B. Overseas bank account information (Complete this section for payment to banks outside of Bermuda)
3. Member Status
By signing this form, I certify and understand that:
- I have declared all applications for refunds that I have made from my BF&M pension(s) or pensions from other providers
- Including the amount requested by this refund, I will not receive more than $12,000.00 in pension refunds
- I understand my account balance may go up and down and that I will receive the value of my account at the time of redemption.
- All of the information supplied in this Application and any documents that accompany this Application are true copies and/or accurate.
- I understand that I will receive an email from BF&M with a link to BF&M's online ID verification process, and that I must complete that process for my application to be complete.
- I authorise BF&M to contact the Pension Commission, any other person, including other pension plan administrators or retirement product administrators to confirm or verify any information provided by or about me in this Application.
- I authorise the Pension Commission, any person, other pension plan administrator or retirement product administrator to provide information to BF&M with respect to information in this Application.
I submit this Application and fully understand that by checking the “ACCEPT TERMS” box below, I certify and confirm that I understand and agree with the declaration and authorisation of personal information set out above.