The JN Individual Retirement Scheme (JNIRS) is a personal retirement plan, which will assist you to have the “GoodLife” at retirement by ensuring you achieve financial security and peace of mind. The JNIRS is approved by the Financial Services Commission (FSC), and is operated under the guidelines provided by the Pensions (Superannuation Funds and Retirement Schemes) Act 2004. It is a tax deferred and tax efficient way to save towards retirement. Read More >>>
JNIRS Features & Benefits
Contributors to the JNIRS will enjoy several unique benefits from the subsidiaries of Jamaica National Building Society and at retirement, a pension tailored to your needs. The many benefits of the JNIRS include:
Merchant Discounts: Your unique JNIRS Card will allow you to receive discounts from more than 100 merchants across the island.
Contributors are allowed to invest a minimum of five percent (5%) and a maximum of twenty percent (20%) of your gross annual remuneration.
There are several options available for the payment of contributions. Payments can be made monthly, quarterly, semi-annually or yearly through any of the following options.
Over the counter transaction at any JNBS location
Cash or Cheque Deposit Box at JNBS locations
You are required to make at least one contribution per year.
Contributions - Investment
Contributions and amounts transferred to the JNIRS on your behalf will be used to purchase Units in one of four pooled funds. These funds are invested in various asset classes such as; Bonds, Equities, and Money Market Instruments. When you become a member of the JNIRS, you will be required to select one or more of these funds in which your contributions should be invested. Your choice will be dependent on your risk profile and your personal investment strategy.