Regulatory Alerts2023-06-01 | 24047Added · Updated
Guideline on Amending a Pension Plan’s Trust Deeds and Rules and Correcting the Register of Pension Plans
Plan Sponsors and Trustees must ensure that amendments to Trust Deeds and Rules comply with Part 1 of Schedule 4 of the Insurance Act, 2018, and are registered with the Central Bank of Trinidad and Tobago before becoming valid. Applications for amendments or register corrections must be submitted in the prescribed form, signed by a trustee, and accompanied by required evidentiary documents such as board resolutions or supplemental deeds. Trustees are obligated to apply for registration of any amendment or change in trustee details within fifteen business days of the occurrence. Additionally, all amendments must be forwarded in draft form for review prior to final submission, and members must be provided with copies of updated plan rules upon request.