Application

(1) This Act applies to every pension plan that is established by an employer for persons employed in Belize or in respect of which an employer makes contributions for his employees except for the following plans– (a) National Assembly Pension Plan for members of the National Assembly; (b) Public Pension for public officers; (c) School Teachers Pension for teachers; (d) Social Security Pensioners; (e) A pension plan, established prior to the commencement date, for employees of any of the following entities– (i) Belize Electricity Limited; (ii) Belize Tele media Limited; (iii) Belize Water Services Limited. (2) Notwithstanding sub-section (1) and subject to sub- section (3), the Supervisor may exempt a pension plan from the application of this Act if the plan is registered in a jurisdiction other than Belize that is acceptable to the Supervisor and the employer provides such undertakings as the Supervisor may require, and for this purpose the Supervisor may request a copy of the plan text and actuarial reports. (3) Notwithstanding sub-section (1), the Supervisor may exempt a pension plan established prior to the commencement date from the application of certain provisions of this Act or 15 specify a transition period for compliance with certain provisions of this Act. Registration and Administration of Pension Plans