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VM Group Partners with JMEA to Provide Pension Solutions for Member Companies

By: , September 7, 2022
VM Group Partners with JMEA to Provide Pension Solutions for Member Companies
Photo: Michael Sloley
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill (left, standing), looks on as Chief Executive Officer, Victoria Mutual (VM) Pensions Management Limited, Conroy Rose (left, seated), signs a partnership agreement between the entity and the Jamaica Manufacturers and Exporters Association (JMEA) to provide special pension solutions to the JMEA member companies and their employees. The signing took place during the initiative’s launch at the Victoria Mutual Building Society (VMBS) on Half-Way Tree Road in Kingston, on Tuesday (September 6). Looking on are JMEA Executive Director, Kamesha Blake (centre, seated), and President, JMEA, John Mahfood (right, seated), and VMBS Group President and Chief Executive Officer, Courtney Campbell.
VM Group Partners with JMEA to Provide Pension Solutions for Member Companies
Photo: Michael Sloley
Industry, Investment and Commerce Minister, Senator the Hon. Aubyn Hill (left), examines a document during Tuesday’s (September 6) launch of a pensions solution initiative between Victoria Mutual (VM) Pensions Management Limited and the Jamaica Manufacturers and Exporters Association (JMEA) for JMEA member companies and their employees. The initiative was launched on Tuesday (September 6) at the Victoria Mutual Building Society (VMBS) on Half-Way-Tree Road in Kingston. Looking on are VMBS Group President and Chief Executive Officer, Courtney Campbell (centre), and JMEA President, John Mahfood.

The Full Story

Victoria Mutual (VM) Pensions Management Limited has partnered with the Jamaica Manufacturers and Exporters Association (JMEA) to provide special pension solutions to JMEA member companies and their employees.

The offer includes an approved retirement scheme portfolio – the Jamaica Manufacturers and Exporters Retirement Account (JMEARA), specifically tailored for JMEA members.

This portfolio comprises a balanced allocation of Jamaican and US dollar-denoted equities and fixed income securities, as well as real estate.

The partnership also seeks to address the critical needs of member companies and their employees relating to capital, loans, investments, insurance, and savings, through a bundled offer from across VM Support Business Units.

The initiative was launched at Victoria Mutual Building Society (VMBS) on Half-Way Tree Road in Kingston on Tuesday (September 6).

Among the guests was Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, who delivered brief remarks.

Senator Hill hailed the partnership as an innovative approach to assisting employees in planning for retirement.

He said the entities’ “strategic alliance” that has resulted in the initiative, “should expand VM’s business and provide a welcome avenue for JMEA members to plan for their future”.

VMBS Group President and Chief Executive Officer (CEO), Courtney Campbell, said the partnership will result in enhanced financial security for thousands of Jamaican workers and their families.

“This partnership is perfectly aligned with VM’s purpose, which is to empower our members globally to achieve financial well-being,” he said.

JMEA President, John Mahfood, in his remarks, said the comprehensive product offerings will provide options for individuals and businesses.

“We chose VM for this, not only for their enthusiasm and passion but because they recognise other important areas. For us, what is important, besides pensions fund management, is getting companies listed on the Junior Stock Exchange,” he pointed out.

The VM bundled benefits package will see JMEA member companies and employees benefiting from access to a suite of products and services across the VM group.

Under the partnership, JMEA members will have discounts and early-bird incentives on select products and services from VM Pensions Management.

The initiative also provides preferential rates and discounts on select products and services from VM Building Society, preferential rates and discounts on select products and services from VM Wealth Management, discounts on property valuations from VM Property Services, as well as discounted insurance premiums from VM Group affiliate – BCIC.

JMEA will be responsible for providing its members with access in collaborating with representatives of the VM Group to support onboarding activities for and sharing financial education material provided by the financial entity with its members.

Additionally, VM Pensions will provide JMEA members with bundled benefit offerings and enhance the level of financial literacy among JMEA members.

Last Updated: September 7, 2022

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