THE PENSION NATIONAL SCHEME WAS WOUND UP AT 31 MARCH 2026
The Pension National Scheme (scheme) was a defined contribution scheme. The benefits payable by the scheme were guaranteed by the Government.
The Board resolved, with the direction of the Minister of Finance, to wind up the scheme on 31 March 2026. As part of the wind-up, the scheme’s investment assets were converted to cash from 1 December 2025. Between 31 March 2026 and 31 August 2026, the remaining assets were held in cash pending final distribution to members. On 31 August 2026, the final distribution to members was completed. Depending on the election made by each member, their entitlement was either paid to them in cash or transferred to the Lump Sum National Scheme.
The scheme administrator sent each remaining member a letter and a statement confirming the final distribution. For members transferred to the Lump Sum National Scheme, the letter also confirmed their new account and the amount transferred.
The earnings rate declared by the Board for the scheme for the year ended 31 March 2026 was 4.00% on members’ Total Credits as at 1 April 2025. As part of the wind-up, the remaining reserves held by the scheme, after payment of expenses and final adjustments for the period ended 31 August 2026, were distributed to members on a pro rata basis
