Bermuda can benefit from pensions restructuring

By Ashley Fife

Bermuda is well placed to benefit from increased life expectancy rates that have some employers seeking to restructure the pension entitlements of their employee members.

Life expectancy rates of an average 65-year-old have increased 50 per cent in just three decades. That has contributed to soaring costs for employers maintaining defined employee benefit pension plans, which generally require employers to make pension payments to its employee members for the rest of their lives.

In some cases, there have been serious concerns whether certain pension plans have the necessary funds to provide defined pension benefits at all…

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