Private pension fund assets are on the increase, with fund holdings close to $1.2 billion by the end of 2017 and the communications and utilities sector holding the largest amount of pension funds. However, the benefits paid out appear to be increasing quicker than the rate of growth of contributions.

These revelations were contained in a private pension fund survey conducted by the Central Bank of The Bahamas, covering the period 2016-2017. The survey’s results were featured in the central bank’s Quarterly Economic Review for the period ending March 2019.

The survey notes that pension funds seem to have secured their footing and growth through investment in domestic assets.

“In addition, the portfolios for defined benefit schemes continue to favor more conservative investments, such as government securities,” the survey states.

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