Colonial To Assist Clients With Pension Refund

June 1, 2020

Colonial Pensions Services will be “assisting existing pension plans and/or local retirement product members” in their application for a “temporary refund of their pension funds.”

A spokesperson said, “In response to the Covid-19 pandemic and the National Pension Scheme [Occupational Pensions] Act 1998, Colonial Pensions Services is assisting existing pension plans and/or local retirement product members who are under 65 and not retired to apply for a temporary refund of their pension funds.

“The amended legislation also allows for a lump sum cash withdrawal of up to 25% for those 65 and older who have retired. Application for this withdrawal is through the Pension Commission, phone 441-295-8672.

“Our job is to meet the urgent needs of clients experiencing financial pressures and uncertainties caused by Covid-19,” said Naz Farrow, CEO. “Our mission is to do so in a timely manner enabling our customers to meet their ongoing financial demands, from rent and medical bills to groceries and other household supplies.”

“Colonial Pensions representatives are on call to process and release the pension funds that can help clients manage their way through this unprecedented time.

“Clients can apply for the Temporary Pension Refund via our online Application Form located on the Colonial Pensions Services website. Clients may also email or phone for further information.”

  • Temporary Pension Refund queries only:
  • General pension queries:
  • Web login queries:
  • Telephone: 441-296-7526

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As the island and world deals with the Covid-19 pandemic, we are doing our best to provide timely and accurate information, and you can find more information on the links below.

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Comments (1)

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  1. Lloyd says:

    Isn’t there one that if you have under$50.000 you can withdraw it All.