CUNA, UTC team up on pension plan

A personal pension plan to help credit union members  prepare for retirement was launched recently at the Hilton Trinidad. A joint initiative of CUNA Caribbean Insurance Society Limited of the CUNA Mutual Group (CMG) and the Unit Trust Corporation (UTC), it combines insurance cover, tax savings and investment to help build a solid savings foundation for a comfortable retirement.

Speaking at the launch, sales and marketing manager of the CUNA Mutual Group for the Southern Caribbean region, Geoffrey Lewis explained that the relationship with the UTC allows for savings accumulation in one of Trinidad and Tobago’s best performing funds. With a tax deductible contribution of up to $12,000 per annum, with a ceiling of $100,000 in reducing term life insurance cover along with a $50,000 accidental death benefit, the Pension Plus Plan allow flexibility in premium payments to fit the needs and budget of the credit union member. The pension plan has been endorsed by the Co-operative Credit Union League of Trinidad and Tobago.