A personalised pension plan that caters to your retirement goals.
An ARS is a personalised pension plan that provides a tax-free way of saving for retirement. Self-employed persons, professionals and contract workers not currently in another pension plan can benefit from the most tax efficient vehicle to save for retirement.
The Benefit of an ARS
The Prime ARS Benefits
Higher Contributions
Tax-Deductible Contributions
Tax-Free Investment Gains
All investment gains are tax-free with no time limit. This compares favourably to Long-term Savings Accounts (LSA) where the tax-free limit is $1M per year to a maximum of five years.
For the Company
- Minimal administration required
• No need to establish a Board of Trustees
• No regulatory reporting requirements - No expense for the company
- Benefit preserved until retirement
- Allows flexibility in making contributions. (Company may determine their contribution rate for each category of employees.)
For the Employees
- Tax Free Savings
• Contributions made to your Prime ARS are tax deductible;
• All investment gains are tax-free, with no time limit. - Allows flexibility in making contributions.
- Employees make the investment decision (under the guidance of VMPM’s professional investment advisors
- Free Annual portfolio reallocation
- Online Access
- Transferable (no minimum period )
- Death and ill health benefits
We've got the right options for you
Our Prime ARS portfolio options are the individual retirement savings vehicle with a defined contribution benefit structure, allows for flexibility in the contribution rates and no expenses on the part of the Employer.
The Prime Accumulator
Principally invested in short term money market instruments, to minimize the risk of capital loss and
volatility.
The Prime Advantage
Invested in US dollar fixed income instruments, and US Indexed Bonds, created to hedge against
depreciation of the JMD.
The Prime Accelerator
Principally invested in local equities with an allocation to high yielding fixed income instruments.
The Prime Super
A balanced approach which includes a mix of equities, Jamaican and US dollar fixed income instruments
and short-term securities.
- The Accumulator
Make short term investments that will better predict your profits, and minimise your risks. These money market instruments include certificates of deposit and treasury bills.
- The Advantage
Invest your funds to guard against the depreciation of the Jamaican dollar. Choose between US dollar fixed income instruments, and US Indexed Bonds.
- The Accelerator
Choose to mainly invest in local equities, where your funds can be allocated to fixed income instruments that can provide you with greater profits
- The Super
Take a balanced approach to your investment. We offer a mix of equities, Jamaican and US dollar fixed income instruments and short-term securities.
- The International Accelerator
Get exposure to equities traded on any recognized exchange in the United States, Canada and the United Kingdom. This is best for Members who are willing to take investment risks.
- The Property Moderator
Get exposure to local and regional income-earning real estate assets. This portfolio is best for individuals with a moderate to aggressive risk profile.
Why Is An ARS A Better Option Than A Company-Sponsored Pension Plan?
Many small and medium-sized entities have long considered a pension plan for their valued long serving staff members but were concerned about the numerous and time-consuming legal and regulatory requirements.
Principally invested in short term money market instruments, to minimize the risk of capital loss and
volatility.
Invested in US dollar fixed income instruments, and US Indexed Bonds, created to hedge against
depreciation of the JMD.
Principally invested in local equities with an allocation to high yielding fixed income instruments.
A balanced approach which includes a mix of equities, Jamaican and US dollar fixed income instruments
and short-term securities.
Challenges Eliminated by an ARS solution
- An ARS offers a simpler and more cost effective structure
- No implementation time to setup as the enrollment process is immediate
- There are no legal and regulatory reporting requirements
- Contributions made by the employer are tax deductible
- A more flexible arrangement as it allows the employer the ability to commence, cease, increase, decrease his contribution level based on economic circumstances
- Contributions from the employer are not mandatory
To become eligible to join our ARS persons:
- Should be between the age of 18-64 years
- Be a resident of Jamaica
- Should not be an active member of another ARS
- Should not be an active member of a Company sponsored pension plan
