LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features ✚ Video
  • Tech Growth Coalition
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features ✚ Video
  • Tech Growth Coalition
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Jamaican Government Proposes Changes to Pension Funds Investment Regime

July 26, 2019

The government of Jamaica announced that pension plans will now be permitted to invest in private equity and venture capital for the first time. In aggregate, these amounts should not exceed a maximum of 5% of the assets of the pension fund.

(Loop) Finance Minister Dr Nigel Clarke on Tuesday, moved amendments to the Pensions Superannuation Funds & Retirement Schemes) Regulations that will broaden the range of permissible assets in which pension plans can invest.
Funds deposited in a superannuation account will grow typically without any tax implications until retirement or withdrawals.

Upon passage in the Senate, pension plans will now be permitted to invest in bonds issued by companies that have an investment-grade rating from a recognised rating agency; bonds issued by companies listed on the Jamaica Stock Exchange and certain equity or debt of private companies.

The equity or debt should be established under the laws of Jamaica, provided that in aggregate these amounts do not exceed a maximum of five per cent of the assets of the pension fund. This will allow pension funds to invest in private equity and venture capital for the first time.

“These amendments will provide higher return investment opportunities for pension funds while improving access to finance, deepening capital markets and providing options for financing outside of the banking sector,” Clarke told the House.

The amendment to the regulations strengthens the regulatory framework and requires each pension plan to develop an investment policy and mandates investment managers to invest pension fund assets in a manner consistent with the individual plan’s investment policy, the governing legislation and the regulations.

The amendments also revise investment concentration limits and increase the amount that pension funds can invest in secured leases.

“In this new era of low, stable and predictable inflation pension plans will need to be able to invest in higher returning longer-term assets to be in a position to fund their pension liabilities. These amendments will allow for this,” Clarke also said.

The Pensions (Superannuation Funds & Retirement Schemes) (Investment) (Amendment) Regulations, 2019 are to be approved in the Senate at the next opportune sitting.

Jamaican Government Proposes Changes to Pension Funds Investment Regime was last modified: August 14th, 2019 by csantos
0
Facebook Twitter Google +

Submit VC News

Have private equity or venture capital related news that you would like to share? Submit your press releases and news to news@lavca.org.

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sector Tags

agribusiness Agriculture AgTech Artificial Intelligence B2B Big Data biotech Cloud Computing Consumer/Retail delivery Digital Media & Entertainment Digital Security e-commerce ecommerce EdTech Education Education/Educational Services Energy Financial Services fintech Healthcare Healthtech Hospitality Human Resources Impact Impact Investing Information Technology Infrastructure IoT IT Logistics & Distribution Marketplaces Mobile Private Equity Real Estate Renewable Energy SaaS Social Networks Software Startup startups Technology Telecommunications Transportation venture capital

Geography Tags

Alquilando Argentina Argentine Austria Belize Bolivia Brasil Brazil Canada Canary Caribbean Central America Chile Colombia Costa Rica Dominican Republic Ecuador El Salvador Guatemala Honduras India International INTL Israel Jamaica Japan Kenya LatAm Latin America Mexico Miami Nicaragua Pan-Regional Panama Paraguay Peru Portugal Puerto Rico South Korea Spain United States Uruguay US USA Venezuela
LatAm Venture Bulletin

LatAm Venture Bulletin

The LatAm Venture Bulletin is a must-read roundup of startup deals and news on emerging technologies in Latin America, delivered to over 3,000+ investors, entrepreneurs, and corporates bi-weekly.
Asset Class *
 

Tweets

  • 👏🏻@ArukayEdu @WeXchange https://t.co/coaAn1Bkte

    15-Nov-2019

    Reply Retweet Favorite
  • NEW! Check out the fourth annual #LatAm #Startup📖Directory that includes 330+ LAVCA verified startups w/US$1m+ in f… https://t.co/6aNCqxEdo1

    14-Nov-2019

    Reply Retweet Favorite
  • 📢¡Se cierra el registro! El programa LAVCA-@MITSloanLATAM de Capital Privado y M&A #LatAm te ofrece la oportunidad… https://t.co/oVM0XPJAbB

    30-Oct-2019

    Reply Retweet Favorite
  • Full house at #MexicoVCDay! Congratulations to @LiliReyesC & @AMEXCAP team! Discussions on bridging #markets with… https://t.co/vRFT3FgnU7

    17-Oct-2019

    Reply Retweet Favorite
  • @ #PVCC2019 Conference! #MiguelAlgarin, Camilo Kejner @Angel_Ventures, Maria Rita Spina Bueno @AnjosdoBrasil, Julia… https://t.co/5dGKGSPbzC

    16-Oct-2019

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Offices

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10031

    Buenos Aires:
    Av. Figueroa Alcorta 3351
    Buenos Aires, Argentina, 1425

LAVCA Also Has a Regional Presence in:

    Silicon Valley:
    San Francisco, CA

    São Paulo:
    São Paulo, Brazil

Explore LAVCA.org

  • About LAVCA
  • Board, Team & Councils
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2018 - LAVCA. All Rights Reserved.


Back To Top