Access to private pensions to start or expand a business
From "What laws would you like to see modernized, reformed or introduced for the benefit of Bermuda?"
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I suggest that people with private pensions be allowed access up to 25% of their private pension to start a new business or expand an existing business without having to wait until they are 65 to get some of their money. This should be separate or in addition to the existing two withdrawals.
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Profile of Dinah Sinnock
Posted by:Dinah Sinnock
5 years ago
The whole purpose of a private pension is to ensure that you have sufficient funds to live on in retirement and are not reliant on the Govt. Maybe lucky and have a flourishing business or could be unfortunate and have a total disaster and in the meantime have used valuable resources which will be needed later in life.
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proposed