The FSC regulates every pension plan and every registered retirement savings plan that is established by an employer for persons employed in Barbados. They also regulate any pension plan that is established by persons employed outside Barbados and that has a substantial connection with Barbados.
It is the mandate of the FSC to promote stability, public awareness and public confidence in the operations of financial institutions and more specifically pension plans. It is our duty to ensure that pension providers comply with all relevant legislation to protect the assets of members of pension plans.
Eligible employees not currently enrolled on a pension plan, and future eligible employees, have the option not to join the pension plan. No current and future members of a pension plan will be given the option to opt out of pension plan membership.