offline_id:0075-75053-

E&OE

A Member of the Sagicor Group

Jamaica Public Service Company Ltd (2005) Staff Pension Scheme

Employee Statement of Benefit for the period
01-Jan-2018 to 31-Dec-2018
FSC Registration #: P-08.0021 Administrator's Fund No:LP0075DC
Name of Sponsoring Employer: Jamaica Public Service Company Ltd
Division: Managers And Confidential Staff
Member's Demographic Details
Name Floyd R Huggins
Member Key 0075-75053- TRN 112-991-025
Sex male Date of Birth 05-Aug-1983
Date of Enrollment 01-Jan-2017 Date of Hire 24-May-2016
Normal Retirement Date (NRD) 01-Sep-2048 Pensionable Service 2.00
Vesting Date 01-Jan-2022 Vested Amount $550,621.86
Current Age 35.41 Current Year's Salary $3,680,178.46
Members Compulsory Contribution Rate: 6.50% Future Service 29.67 Yrs
Beneficiary Details
Beneficiary Name Date of Birth % Contact Information Relationship
Hyacinth Henry Unknown 50.00 Fort Lauderdale U.S.A. Mother
Angella Huggins Unknown 50.00 Fort Lauderdale U.S.A. Sister

Member's Account
Opening Current Year
Contribution Types Change in Value Closing Balance
Balance Contributions
Employee Compulsory $265,454.89 $239,211.60 $45,955.37 $550,621.86

Employee Voluntary $0.00 $0.00 $0.00 $0.00

Employee Prior Plan $0.00 $0.00 $0.00 $0.00

Employee Bonus $0.00 $0.00 $0.00 $0.00

Employee Surplus Allocation $0.00 $0.00 $0.00 $0.00

Total Employee $265,454.89 $239,211.60 $45,955.37 $550,621.86
Employer compulsory $265,454.89 $239,211.60 $45,955.37 $550,621.86
Employer Voluntary $0.00 $0.00 $0.00 $0.00
Employer Prior Plan $0.00 $0.00 $0.00 $0.00
Employer Bonus $0.00 $0.00 $0.00 $0.00
Employer Surplus Allocation $0.00 $0.00 $0.00 $0.00
Total Employer $265,454.89 $239,211.60 $45,955.37 $550,621.86

Grand Total $530,909.78 $478,423.20 $91,910.74 $1,101,243.72

Total Without Interest $478,422.42 $478,423.20 $956,845.62
Interest rate credited to Contribution
Compulsory 12.31%

Employee Benefits Administrator Limited’s FSC Reg.# P-02 0954

28-48 Barbados Avenue, Kingston 5
 offline_id:0075-75053-
E&OE

A Member of the Sagicor Group

Summary of Benefits
Estimated Retirement Benefits

Your pension payable at your normal retirement date is based on the following

Projected Projected future Estimated Projected Total Estimated

accumulated contributions at annual earned unearned annual pension at
Contribution Types
contributions NRD pension payable pension payable NRD
at NRD at NRD at NRD

EE Compulsory $7,100,696.88 $79,710,802.52 $786,258.10 $8,826,353.95 $9,612,612.05

ER Compulsory $7,100,696.88 $79,710,802.52 $786,258.10 $8,826,353.95 $9,612,612.05

EE Voluntary $0.00 $0.00 $0.00 $0.00 $0.00

ER Voluntary $0.00 $0.00 $0.00 $0.00 $0.00

EE Prior Plan $0.00 $0.00 $0.00 $0.00 $0.00

ER Prior Plan $0.00 $0.00 $0.00 $0.00 $0.00

EE Surplus allocation $0.00 $0.00 $0.00 $0.00 $0.00

ER Surplus allocation $0.00 $0.00 $0.00 $0.00 $0.00

Bonus Interest $0.00 $0.00 $0.00 $0.00 $0.00

Grand Total $14,201,393.76 $159,421,605.04 $1,572,516.20 $17,652,707.90 $19,225,224.09

Death Benefit

Your beneficiary/ies will receive a lumpsum totalling: $1,101,243.72

Employee Benefits Administrator Limited’s FSC Reg.# P-02 0954

28-48 Barbados Avenue, Kingston 5
 offline_id:0075-75053-
E&OE

A Member of the Sagicor Group

Important Information
. This statement seeks to provide an ESTIMATE of benefit options under your Superannuation Fund. It is to assist you in
your retirement planning exercise and payments made to you at retirement will be based on Actual calculations. Please note
that a number of assumptions have been made, in particular, in instances where projected benefits are calculated. As such,
the likelihood of future variances is possible. These assumptions are noted below.
. This Superannuation Fund provides a pension based on a Defined Contribution benefit calculation. This means the
contributions made by you and your employer (once eligible) are used to purchase your pension at your retirement date.
. This statement should be read in conjunction with your Pension Plan Rules.
. The benefits available to you or your beneficiary are subject to the terms of the Rules governing your Pension Plan.
. If any of your personal data is incorrect, please advise your Human Resources Department who will communicate this
information to the Plan Administrator, Employee Benefits Administrator Limited.
. The Annual Report for the Fund for the year ended 31-Dec-2018 will be available on request beginning at 30-Sep-2019.
. Please keep this in a safe place.
. The Normal Form of Pension for your fund is the 10 years guarantee and life. Your pension is payable to you for your life.
Should you die before 120 payments have been made, then the monthly payments will continue to you beneficiary for the
remainder of the guarantee period. If you die after 120 monthly payments have been made, then no further payments will be
due to your beneficiary.
. The Mortality table used in these calculation is GAM94. This is the table used to determine life expectancy.
. Projected Salary at your NRD is 36,103,946.64. Your projected pension represents 53.25 of your
projected salary. This is referred to as your Replacement Ratio which is also important in helping you in
your retirement planning.
. The normal retirement age of the Plan is : 65 years.
. Please note that if you appoint a minor as your beneficiary you must appoint a Trustee for such minor. Any benefit paid, will
be paid to the Trustee in trust for the minor(s).
. Transfers can either be from another Approved Retirement Scheme or an Approved Superannuation Fund.

Assumptions:
1. There is no change in the current compulsory contribution rate.
2. There is no new voluntary contribution made in the future.
3. Projected inflation rate is 7.00%.
4. Expected real Rate of Return on projected contributions is 2%.
5. Salary growth to NRD is 8.00% per annum.
6. Annuity rates at Normal Retirement Date: male is 9.03.

“To the best of our Knowledge and belief the information contained in the Statement is true, complete and correct and
complies with the requirements of the Act, Regulations and the constitutive documents of the Fund or scheme.”

_____________________________________________________
Prepared by Employee Benefits Administrator Limited On
behalf of the Trustees of the Pension Fund for the Employee Of
Jamaica Public Service Company Ltd

Employee Benefits Administrator Limited’s FSC Reg.# P-02 0954

28-48 Barbados Avenue, Kingston 5
 offline_id:0075-75053-
E&OE

A Member of the Sagicor Group

Employee Benefits Administrator Limited’s FSC Reg.# P-02 0954

28-48 Barbados Avenue, Kingston 5