Planning ahead

IN SPITE of the current economic climate, the Insurance Corporation of Barbados Limited’s (ICBL) Registered Retirement Savings Plan (RRSP) fund has seen growth of more than 100 per cent.

Senior vice-president and head of the Life Division, Henry Inniss, told the SATURDAY SUN this was due in part to Barbadians becoming more educated about the value of planning for their futures. Speaking after the launch of the RRSP at ICBL’s Roebuck Street, Bridgetown head office yesterday morning, Inniss revealed that in 2011 assets held in the fund amounted to some $85 000, by the end of 2012 – $250 000, 2013 – $850 000 and as of the end of August this year, assets surpassed $1 million. 

Additionally he stated that by the end of 2014 he expected at least a 15 per cent increase.