Frequently asked questions

JN Fund Managers Limited, formerly Investment Managers Limited, was established in 1996. The company was re-structured and re-named in January 2000 to offer an expanded suite of investment and credit products and services.

No they are not. Only funds with commercial banks, building societies, merchant banks and trust companies are insured with JDIC.

Yes, we do. Please review our products and the currencies in which they are available in the Solutions page of this site.

Yes. You may transfer your funds from JN Bank to JNFM with ease. If an account already exists with both institutions, then you simply sign a letter of authority to transfer the funds. JNFM ETS and Live by JN also allow you to do so electronically.

Yes you can. You may conduct business with JNFM through our representatives located in all JN Bank branches across Jamaica.

• Taxpayer Registration Number (TRN)
• Notarized copy of a valid identification (e.g. Driver’s License, Passport National Identification Card)
• Proof of Address (copy of Utility Bill, Credit Card or Bank Statement and Driver’s License)
• Two completed Reference forms
• FATCA Tax form

Other documents may be required depending on the type of product and the level of service required:

• Fax and Email Indemnity Form (optional) – applicable if client would like to give instructions by email or fax
• Online Service Agree(optional) – if client requires online access
• Master Repurchase Agreement (for Repurchase Agreements)
• LSA Declaration Form (for JNFM Tax Free Account)
• CI Mutual Fund Application Form (for CI mutual fund)
• Mutual Fund Declaration Form (for CI mutual fund)
• CI Web Login Request Form (where access is required by the client to view their CI account online)

The requirements are the same for persons residing outside of Jamaica. Documents sent from overseas should be notarized overseas.

• Tax Registration Number (TRN) Card
• Valid ID (Driver’s Licence/Passport/National Identification Card)
• Two Completed Reference Forms
• Proof of Address (Utility Bill/Credit Card or Bank Statement)
• FATCA Tax Form

Other documents may be required depending on the type of product and the level of service required

• Fax and Email Indemnity Form (optional) – Applicable if client would like to give instructions by email or fax
• Online Service Agree (optional) – Applicable if client requires online access
• Master Repurchase Agreement (for Repurchase Agreements)
• LSA Declaration Form (for JNFM Tax Free Account)
• CI Mutual Fund Application Form (for CI mutual fund)
• Mutual Fund Declaration Form (for CI mutual fund)
• CI Web Login Request Form (where access is required by the client to view their CI account online)

Documents sent from overseas should be notarized overseas.

Creating a plan is an important first step to your financial success. Our experienced team of licensed Financial Advisors will be only too happy to help you. It is best to make an appointment for a consultation. Ideally, creating your financial plan is preceded by reviewing your financial profile and re-examining your goals. Factors such as your current financial position, your risk profile, your time horizon and other pertinent information will be discussed with you. Your experienced JNFM Financial Advisor will assist you to build and protect your assets and will steer you clear of possible obstacles and pitfalls. Together you will tailor a feasible, personalized financial plan aligned to achieve your aspirations.

To contact a JNFM Financial Advisor call (876) 929-7159 or email us at info@jnfunds.com.

JN Fund Managers Online is the official online platform of JN Fund Managers which allows you to check your investments anywhere and anytime.

You can:

• Access your account information (including balances and transaction history)
• Submit queries
• View and print statements, certificates of participation and interest and tax withheld
• Request written confirmation on your account information
• Send a secure email to your JN Fund Managers Financial Advisor
• Transfer funds from JN Bank to JN Fund Managers via “Live by JN”

Please connect to JNFM Online for full instructions. You may do so now by clicking on ‘Client Login’ which appears on the top right hand corner of any page on this website.

• Click here to register
• Enter your username and password
• Answer the security questions and choose a security image

Yes you can. Our JNFM Electronic Transfer Service (JNFM ETS) makes it easy to transfer funds between your JN and JNFM accounts.

Yes you can contact a JN Fund Managers Financial Advisor from your JNFM Online account.

At retirement, whether normal, early or late, the accumulated value of your IRS fund will be used to purchase an annuity. You may decide to receive a portion of the accumulated value of your fund as a single tax free lump sum and the remaining amount as reduced annuity. The maximum lump sum payment shall not exceed the amount as stipulated by law.

Currently, the normally retirement age, based on the JNIRS Master Trust Deed and Rules, is 65 years. However, you have the flexibility to retire before normal retirement (early retirement) and after normal retirement (late retirement) as permitted by law.

Jamaican residents between 18 – 64 years who are not contributing to approved Superannuation Fund or Retirement Scheme are eligible. This includes all self-employed persons, contract workers and employed persons. Persons are not required to be members of JN Bank.

This plan 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.

Becoming a member is simple. Call us at (876) 949-6382 or visit any JN branch to complete an application form. You will need to provide the following:

• Tax Registration Number (TRN)
• NIS Number
• Valid Identification
• Proof of current income
• Your initial investment (contribution)

There are several benefits of the JN Individual Retirement Scheme which include:

• Tax-deferred benefits
• No tax on investment income
• Tax free lump sum payment
• Online real time access to your investments
• Value added services

You 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 annually through any of the following options:

• Salary deductions
• Standing Orders
• Over the counter transaction at any JN Bank location
• Cash or Cheque Deposit Box at JN Bank locations

You are required to make at least one contribution per year.

Yes. Contributions can be made by employers on behalf of employees, however it is not mandatory that they do so. The employer’s portion, as constituted by the Pensions (Superannuation Funds and Retirement Schemes) Act 2004, cannot exceed 10% of the annual gross remuneration and the combined employer and employee contribution should not exceed 20%.

Yes. Employees who no longer work for a company which has a Superannuation Fund may transfer their funds to the JNIRS. Self-employed and employed persons may also transfer funds from an approved individual retirement scheme to the JNIRS.

A statement will be sent to members once per year outlining the accumulated value of your contributions. This statement may also be viewed online at any time.

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.

Yes JNIRS gives you the flexibility to change the allocation of your funds by completing a ‘Change Request’ form. You are allowed two free fund re-allocations per annum*. (*Conditions apply)

If you die before retirement, the accumulated value of your contributions will be paid to your nominated beneficiaries. The payment will be paid as a lump sum and is tax free subject to prevailing regulations.

No. The law does not allow funds to be withdrawn before retirement. The accumulated value of your contributions will be paid as a pension at retirement. However, existing member account balances can be transferred from the JNIRS to an approved Retirement Scheme or Superannuation Fund.

JNIRS is a personal retirement plan which provides pensions to individuals on retirement. It is a tax deferred and tax efficient way to save towards retirement.

The JNIRS is approved and regulated by the Financial Services Commission (FSC). JN Bank is required to provide the FSC with quarterly and annual reports showing the JNIRS funds are invested. In addition, the Scheme is governed by a Master Trust Deed. The Plan is closely monitored by the Trustees, selected by the members of the scheme and JN Bank, who is the Scheme Sponsor. Actuaries, Auditors and Investment Managers also provide advice as it relates to the investment of members’ contributions. JN Bank will apply sound investment strategies to the management of your funds. However, there is no guarantee on the rate of return on contributions, as rates are determined by prevailing market contributions.