MORE Jamaicans are taking retirement planning into their own hands as individual retirement schemes continue to attract growing numbers of savers, according to the latest data from the Financial Services Commission (FSC).

Industry officials say changing work patterns are helping to drive the shift. For decades, retirement planning was closely tied to the workplace. Employees built their retirement savings by remaining with one employer long enough to qualify for a pension. Today, that model is changing. As more Jamaicans switch jobs, work on contract or become self-employed, retirement planning is increasingly becoming an individual’s responsibility rather than an employer’s. The shift is already showing up in the numbers. While the bulk of the industry’s asset base still sits with traditional employer plans, holding $755.8 billion in assets compared with $90.7 billion in retirement schemes as at December 2025, it is individual retirement plans that are attracting the fastest growth in new members.

Historical FSC data compiled by Sagicor Jamaica show that membership in approved retirement schemes has climbed from just 7,917 people in 2010 to 90,412 by the end of 2025. By comparison, membership in employer-sponsored superannuation funds has grown more modestly, from 67,441 to 84,801 over the same period.