Regulatory Alerts2024-06-25
Added · Updated
Registration of an Amendment to Pension Plan Constitutive Documents
The Financial Services Commission of Jamaica issues this bulletin to establish the statutory procedures and documentation requirements for trustees seeking to amend the constitutive documents of approved superannuation funds or retirement schemes. Trustees must notify members at least 45 days prior to submission, convene a participants’ meeting with a 30 percent quorum, and secure member approval through distinct voting thresholds depending on whether the change is classified as ordinary or prescribed. Upon obtaining approval, trustees must submit a complete application package, including a J$5,000 fee and a compliance declaration, within 14 days, with the amendment’s effective date governed by the FSC’s notice and a mandatory 90-day post-submission waiting period.