Contact us
Should your require additional information, please get in touch with us:
- +(876) 920-5474/5479
- operations@atlpension.com
- ATL Group Pension Fund Trustees Nominee Limited, 19 Beechwood Avenue, Kingston 5 Jamaica
Beneficiaries
Who is a beneficiary and do I have to name one?
A beneficiary is someone who will receive your accrued benefits if you die while in the employment of the Company or within five or ten years of your retirement from the Company (you chose which when you retire).
You can name more than one beneficiary and you can leave different amounts for each person such as 50% of the total amount due, or 20%, 10% or any combination adding up to 100% which represents the total in your account.
You will need to state the date of birth of your beneficiary because, if your beneficiary is under 18 years of age they cannot receive the money left to them until they reach that age.
For that reason, you should name an adult Trustee if your beneficiary is under age. A trustee must be someone in whom you are confident and whom you know will make good decisions about your beneficiary’s interests.
Can I change my beneficiary?
Yes, you can change your beneficiary any time you wish. All you need to do is to login to your Member Dashboard and go to the Beneficiaries section. Birth Certificates must be submitted for any new beneficiaries being added.
Suppose I do not name a beneficiary?
If you do not name a beneficiary, then you should make sure that you leave a Will stating whom you wish your money to go to when you die. If you do not leave a Will then your relatives will have to go to the Administrator General’s Department to apply for your money and this process takes a very long time. Therefore, it is easier for you to name a beneficiary, as the settlement process is much shorter.