PROVEN Rock Approved Retirement Scheme is a private pension arrangement that creates an opportunity for individuals who are not active members of a Superannuation Fund to formally save for retirement.
It allows members to make tax-deductible contributions of up to 20% of their annual income to the scheme. These contributions are invested and accumulate as tax-deferred earnings towards providing a pension at retirement.
In order to be eligible for membership in the PROVEN Rock Approved Retirement Scheme you must be compliant with the following:
A Jamaican resident between the ages of 18 and 69 years and fall in one of the following categories:
- Be self-employed, or employed in a non-pensionable post, or do not otherwise contribute to an Approved Superannuation Fund or another Approved Retirement Scheme.
- On termination of employment, you have elected to transfer your pension benefits from an Approved Superannuation Fund to the Scheme.
- Elected to transfer your pension benefits from another Approved Retirement Scheme to the PROVEN Rock Approved Retirement Scheme.