You’ve put in the hours, now you deserve to enjoy life on your terms. That’s why at BF&M, we offer retirement plans and investment choices that help you to live your best life.
BF&M's Flex Retirement Account is a prescribed retirement product approved by the Pension Commission in Bermuda. Instead of having to move your locked-in pension funds from employer plan to employer plan as you transition to different companies throughout your working career, the Flex Account allows you to consolidate your funds into one account, in your own name, with a choice of investment options that may differ from those that your employer plan might offer.
Retirement isn’t your only financial goal. BF&M can help you reach other financial milestones over the short, intermediate and long term with our Individual Savings Plan.
BF&M has a suite of investment options to choose from, including:
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.
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.
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.
It’s easy to transfer funds for your investment plans or accounts. Click the link below for direct debit and wire payment instructions.
To view Pension find performance and market update newsletters, click the link below.
Fund performance and newsletters
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.
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.
Options include transferring funds to a Prescribed Retirement Product, transferring funds to a pension plan, purchasing a deferred annuity, and more.
It's dependent on two things: 1) if you are a Bermudian or the partner of one; and 2) your employer has a pension plan that requires everyone to participate.
BF&M offer our Flex Account Retirement Plan, individual savings plans, educational savings plans, and annuities.
You can choose to retire from your plan and start receiving benefits, or you may elect to defer receiving your pension and continue contributing to the plan.
It depends on a number of variables like the type of plan you have, the funds that you are invested in, and the timing of the contribution.
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