Final Policy Proposal Document for the Establishment of an Occupational Pension Plans Bill

CENTRAL BANK OF TRINIDAD & TOBAGO Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

December 31, 2012

CIRCULAR LETTER TO: ALL PENSION PLANS, CORPORATE AND INDIVIDUAL TRUSTEES, INSURANCE COMPANIES WITH DEPOSIT ADMINISTRATION CONTRACTS, LABOUR UNIONS

REF: CB-OIFI-2976/2012

FINAL POLICY PROPOSAL DOCUMENT FOR THE ESTABLISHMENT OF AN OCCUPATIONAL PENSION PLANS BILL

The Central Bank of Trinidad and Tobago (Central Bank) is pleased to circulate the third and final version of the Policy Proposal Document (PPD) for the establishment of an Occupational Pension Plans Bill (OPPB) for your information. The Central Bank wishes to thank the industry for the keen interest shown and critical comments provided during the consultation process on previous versions of the draft document.

The Central Bank advises that this PPD will be used to inform the drafting of the OPPB, subject to the approval of the Minister of Finance. The PPD can be viewed on the Central Bank’s website at http://www.central-bank.org.tt/content/draft-and-consultation-papers-0. A matrix showing Central Bank’s responses to comments received on the October 2011 draft PPD will also be published on the website by February 8, 2013.

As is now customary, we request that trustees and insurers with deposit administration contracts forward a copy of the PPD to the relevant plan sponsors, management committees and investment managers.

Please be guided accordingly.

Yours sincerely,

[Signature]

Carl Hiralal Inspector of Financial Institutions