MILLENNIUM SAVER PLAN Save for the future with a plan that’s right for you.
LIFE IS BETTER WITH A PLAN. MILLENNIUM SAVER PLAN Enjoy the retirement you deserve The Millennium Saver Plan is in an investment product introduced as a way to encourage savings for retirement. This product features two versions Registered and Unregistered. Key features of this plan include: • Individuals can contribute any amount to this plan • Contributions are allowed up to the end of the year in which the individuals becomes 70 years old • Contributions are tax-free and can be deducted from taxable earnings [1] [2] • Interest paid is not subject to income tax at the time the interest is earned • The plan-owner is allowed to withdraw 10% of the fund each year [3] • At maturity, you can withdraw 25% of your funds tax-free. Contact your Sagicor Advisor to guide you on this process [4]
How the Sagicor Millennium Saver benefits you
TAX BENEFIT If you purchase the registered version you can claim up to a maximum amount of your assessable income. COMPETITIVE, GUARANTEED INTEREST RATE The interest rate offered by the Sagicor Millennium Saver is competitive and guaranteed for five years initially. The interest renews every five years and is guaranteed for a further five years on renewal. FLEXIBLE PREMIUM SCHEDULE The plan allows regular contributions and lump-sum deposits subject to plan minimums. LIFETIME RETIREMENT INCOME GUARANTEE On maturity, Sagicor guarantees an income for life. You can also choose to receive your pension for a period of either five or ten years under the registered version or five, ten or fifteen years under the unregistered version. Under these options, payments will continue to your beneficiaries or your estate, in the event of your death. TOTAL DISABILITY OPTION In the unfortunate event that you become totally disabled, Sagicor will continue to pay your regular contributions to the plan to ensure your retirement income. Please note that this option requires additional purchase.
The plan that provides security for a lifetime
The main purpose of a retirement policy such as the Sagicor Millennium Saver is to provide you with a lifetime retirement income, to ensure that you do not outlive your financial resources. This product is well-suited to self-employed persons and to individuals wanting to supplement their retirement income from their employer or the National Insurance Scheme. When combined with Sagicor’s other insurance products, the Millennium Saver can be used in a tax-efficient plan to transfer the values of your estate to your children or heirs. It can also be use to create a retirement fund for your spouse and your dependants. The Millennium Saver Plan is one of many solutions offered by Sagicor to help you reach your financial goals. Please ask your Sagicor Advisor how this product can be part of a wise approach to your complete financial well-being.
[1] Subject to the country’s tax requirements [2] Only available under the Registered version [3] Only available under the Unregistered version [4] Only available under the Registered version
About Sagicor Since 1840, Sagicor Life Inc has been serving the Caribbean. Over that time, we’ve come to know not just our business, but also the people we serve. Today, we operate in 22 countries in the Caribbean, the US, and Latin America, providing insurance, finance, and banking services. In every community, through every region, across every service, we carry that same experience and expertise with us. We live to serve our customers, and we’ve helped them through every situation. It’s that dedication, passion, and care that make us the company we are today. Whatever your needs, whatever you’re going through, trust us: We’ve been there.
MILLENNIUM SAVER PLAN SAGICOR LIFE INC Sagicor Financial Centre Lower Collymore Rock St. Michael, Barbados www.sagicorlife.com CONTACT Tel (246) 467-7500 Fax (246) 436-8829 Email info@sagicor.com St. Lucia – (758) 452–3169 Sagicor Life Inc Sagicor Financial Centre Choc Estate, Castries
Millennium Saver Plan is issued by Sagicor Life Inc, a member of the Sagicor Group of Companies. Interest rate is guaranteed for a period but will fluctuate over time. Information is valid as of March 2014. insurance • investments • retirement planning • home ownership • education saving • savings plan • money management Sagicor Life Inc is rated “A-” (Excellent) by A.M. Best Rating Company.