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Public Officer Applying for Pension
The Public Service Pension Plan of The Statute Laws of The Bahamas is a non-contributory plan. The purpose of the plan is to award pensions and gratuities to public officers.
There is no absolute right to the benefits that are awarded under The Pensions Act. The benefits are only awarded for good and faithful service and will be withheld in part or whole where officers are found to be guilty of disgraceful conduct or gross dereliction of duty or indebted to the Government of The Bahamas for any public money which came to their hands either legally or illegally.
The amount of the pension awarded to public officers is determined by the number of continuous months of employment and the annual salary at the time of retirement. Officers may take the maximum (full) pension for their months of service, in which case they will not receive the lump sum gratuity. However, officers may opt to take a reduced pension of 75% of their maximum (full) pension, and in this case they would receive a lump sum gratuity equal to 25% of their maximum (full) pension multiplied by ten (10).
The Benefits and Awards described below are for Public Officers who qualify for benefits under The Pensions Act, Chapter 43 of the Statute Laws of The Bahamas.
The following officers should refer to the relevant Act for Benefits and Awards for further information:
Judges – Judges Remuneration and Pensions Act
Members of The Royal Bahamas Police Force – The Police Force Act 2009
Prison officers – The Prison Act
Officers of The Defence Force – The Defence Force Act
Officers who do not qualify for the award of a pension, and provided they had completed at least ten (10) years of continuous monthly service, will be eligible for a gratuity equivalent to 4% of the annual salary at the time of retirement, multiplied by the number of completed years of service (less any periods taken on unpaid (no pay) leave and / or contract).
|Public officers, who are members of the Pensionable Establishment and have a minimum of five years continuous service before reaching the mandatory age of retirement, age 65.
Include option for early Retirement - Pensionable officers may retire early, with the award of pensions, provided they meet at least one of the following options:
The following original documents must be submitted:
By employee with the application
By the Agencyâ€™s HR department:
All submission by Family member/LPR
Proof of Unpaid Leave
Memorandum verifying that the officer is not indebted to the government
Letter of appointment to the public service
By Family island employees
Copies of Blue G vouchers for each quarter of the last five years of service
The rate of inflation is not reflected in the Pension Plan. However, The Bahamas Government may from time to time increase the amount of the monthly pension paid to former public officers. The percentage of the increase will be decided by the Government.
The pension awarded to public officers is payable for life. On death of the pensioner the surviving spouse or dependant may make application for a gratuity called an Ex-Gratia Award equivalent to one (1) yearâ€™s pension, upon presentation of certain documents.
|1.||Six month before the desired retirement date, the officer should liaise with the Human Resource department to verify whether they qualify for retirement benefits. |
|2.||Officer must complete and submit an application for pension/gratuity form along with supporting documents and a letter giving of the date that they wish to retire to their immediate supervisor|
|3.||The supervisor/HR must then complete a request for benefit and submit it to the PS/Head of Department for signing.|
|4.||The PS/Head of Department must then prepare and submit a recommendation to the Permanent Secretary of the Department of Public Service.|
|5.||he Department of Public Servicess Department will verify the accuracy of employee information and compute the benefit that is due to the Officer. |
|6.||A recommendation is then prepared for the Public Service Commission for final consideration.
The Public Service Commission makes a final determination regarding the benefits due to the Officer and returns this to the Department of Public Service.|
|7.||Department of Public Service will then prepare a letter to the officer advising them of the amount of their benefits.
At this point the file is then passed on to the Aaccounts section of the Department of Public Service who will prepare a voucher for the gratuity and add the officer to the pension payroll. |
|8.||The officer may contact the Treasury Department regarding the collection of their cheque.
Note: Pension Payment will be remitted to the allocated account monthly.|
PUBLIC SERVICE, DEPARTMENT OFPOINCIANA HILLMEETING ST.P. O. Box N 3915NASSAU, BAHAMASdps@bahamas.gov.bshttp://www.bahamas.gov.bs/publicservice