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Group Pension

Employee Benefits
Want to speak with a BF&M representative? +1-441-295-5566

Flexibility to choose. Strength you can rely on.

Planning for the future is a right of every employee. To make that easier we offer retirement and savings plans, allowing you and your group to make the most of the best years. Because when you work hard your whole life, you deserve to retire in comfort.


Our plan options are designed to accommodate both local and international company employee bases.

As per the Bermuda Pensions Act, employers are required to provide a registered pension plan to all Bermudian and spouse of Bermudian staff. There is no such requirement at this time for Expatriates and Permanent Resident Certificate (BOTC) holders, however it is common practice locally to provide similarly-structured pension benefits for all staff. Employers and their members are required to contribute 5% of the employee's pensionable earnings. Plan options include:
  • Registered retirement plans
  • Non-registered retirement plans
  • Group supplementary savings plans
  • BF&M's 401(k) plan for U.S. citizens


Your employees can select the investment option best suited for their needs:

Risk-based profiles

Our Risk-based profiles offer a single, balanced solution for you to diversify your investments and tailor your portfolio to a particular risk level. This option provides the opportunity to have a well-diversified mix of stocks and bonds which align with the risk level you’re comfortable with, ranging from conservative to aggressive.

Target Date funds

Our Target Date funds offer a dynamically changing investment portfolio that gradually shifts investment risk to become more conservative as your target date approaches. You simply select a target date fund closest to the year you aim to retire and the fund automatically adjusts over time, to less stocks and more bonds, reducing your risk as you get closer to retirement.


Our self-directed option allows you to invest on your own terms and choose your investment allocation from a wide range of asset classes. With this approach, you retain control to decide where you choose to invest, providing you with greater flexibility in managing your money.

Want to gauge your risk comfort? Take our investment risk strategy quiz.

Viewing your Pension information

BF&M's Pension portal allows you to access your pension information 24 hours a day, 7 days a week. Follow our Online Guide to get started.

Online guide

Making contributions

It’s easy to transfer funds for your investment plans or accounts. Click the link below for direct debit and wire payment instructions.

Contribution instructions

Pension fund performance and newsletters

To view Pension find performance and market update newsletters, click the link below.

Fund performance and newsletters

Small Pensions withdrawals

If you are 65 or older and have no more than $50,000 in your pension account, you can apply for a Small Pensions withdrawal-whether or not you are retired.

Application form

25% lump sum refund

If you are 65 or older, you may apply for a 25% lump sum refund of your current balance. You must have a defined contribution pension plan or local retirement product. Applications for these funds are make directly through the Pension Commission.

Contact Pension Commission

Planning for your retirement? Understand your options.

Explore our suite of retirement products


Our Customer Care Team is here to support you.

We encourage you to speak with a member of our Customer Care Team for assistance.
Call us at +1 441 298 0358 or email [email protected].

Call for advice on Investing and Retirement plans.