Retirement Solutions


Immediate Annuities   


Colonial Life's Multiflex annuity is a retirement product created for groups of 5 or more employees. Although provided on a group basis only, this portable plan allows employees to continue to save for retirement even if they change jobs.


  • Policy is owned by the employee and the employee makes the contributions (contributions are submitted by the employer on behalf of the employee)
  • Contributions are flexible:
    • Pay any amount e.g. monthly deduction from salary or lump sum payments
    • Pay anytime e.g. monthly or annually
    • No minimum amounts required
  • Tax shelter:
    • Employee contributions are deductible based on the prevailing income, tax allowance for pensions, annuities and NIS
    • No tax is charged on the benefits until they are withdrawn at retirement
  • Employee's pension not restricted to 2/3 ceiling of pre-retirement base earnings
  • +Two investment options:
    • Declared Interest where there is a guaranteed minimum rate, no fee or charges, rates are declared annually and interest earned is compounded annually
    • Managed Fund which is managed by professional investment managers and analysts and which uses contributions to buy units of the fund
+ The selection is made by the employee who can invest in either option or in both. This investment choice can be changed once per year on the plan anniversary date. The employee can switch past funds, future contributions or both.

Is Multiflex right for you? Contact a CLICO agent in your area to discuss your options.
Copyright , Colonial Life Insurance Company (Trinidad) Ltd. All Rights Reserved. CLICO is the brand name of Colonial Life Insurance Company (Trinidad) Ltd.