The CBK Pension Fund was established on 1 July 1968 under a Trust Deed and operates as a Defined Benefit scheme. The primary objective of the Fund is to provide pension and other ancillary benefits to members upon retirement, as well as benefits to dependants of deceased members, in accordance with the Trust Deed and Rules.

The Fund is a closed scheme following a Government directive issued in November 2010. Members aged below 45 years as at 31 December 2011 transferred to Defined Contribution arrangements for future service, while accrued benefits under the Defined Benefit scheme were preserved and continue to be revalued upon exit from service.