- The following statement was released today, Thursday, May 14, 2020, by Senator Marcus Jones, One Bermuda Alliance Senate Leader…
Even before COVID-19, we all knew people who were really struggling in Bermuda’s declining economy.
- Those with a private pension can apply to withdraw up to $12,000
- This is for people who have not yet retired
- This is a one-time withdrawal available until 30 June 2021
- There will be no fee for a withdrawal
- Covid 19 amounts to hardship – there is no need to show additional hardship
- People who draw this money now may still on retirement draw up to 25% of their pension fund