Bermuda pension

Everyone who works in Bermuda makes contributions to their pension fund. You can access your pension fund at the age of 65.

Pension contribution

You must pay contributions into the Contributory Pension Fund (CPF) if you work more than four hours per week—even if you are self-employed. These contributions occur every Monday, as shown on the Contribution Calendar 2017

Exceptions

In some circumstances, you can be exempted from contributing to the CPF. Apply to the Director of Social Insurance if you are a:

  • student who works during periods of vacation or public holidays (you can have your employer apply on your behalf);
  • person who earns less than $3,000 per year;
  • widow or widower currently receiving a widow’s or widower’s benefit;
  • non-resident who has worked for less than 26 consecutive weeks in Bermuda.

Voluntary contributions

You can make contributions to your CPF if you are living outside of Bermuda or currently unemployed. Contact the department to learn more about making voluntary contributions.

How much have I contributed to my Bermuda pension?

Request a copy of your contributions by calling (441) 294-9242 ext. 1117 or 1718, or send us an e-mail. You will need your social insurance number and date of birth.

Contribution rates

The following table indicates weekly contributions made to the CPF:

Category of person

Payable by Employee

Payable by Employer

Total

Employed person over school-leaving age and under the age of 65

$34.47

$34.47

$68.94

Employed persons over the age of 65

n/a

$34.47

$34.47

Self-employed persons over the school-leaving age and under the age of 65

$68.94

n/a

$68.94

Self-employed persons over the of 65

$34.47

n/a

$34.47

Voluntary contributions under age 65

 n/a

n/a

$68.94

Collecting a pension in Bermuda

The amount you receive will depend on the total contributions and number of years you have been part of the plan.  Apply to receive a pension.

Violations of the pension plan

Complete the Complaint form if you observe any violations of pension protocol.

Feedback