The Financial Services Commission (the Commission) hereby reminds pension plan administrators that in accordance with the Occupational Pensions Benefits Act CAP 350B (OPBA) and its regulations, annual registration fees are due on or before January 31, 2018 and must be paid via cheque or bank draft.
Receipts for payment received will be mailed to the person or company making the payment on behalf of the pension plan.
Kindly note that failure to comply with the stipulated deadline of January 31, 2018 will result in the accrual of penalties, incurred at a rate of 10% of the annual fee plus 1% of the annual fee for each month or part of a month that the fee imposed remains unpaid.
Dated this 15th day of January, 2018
The Financial Services Commission