How to Join Our Plan

There are many reasons to join the Chamber Pension Plan as your pension provider. Visit the Why Choose The Chamber Pension Plan page for more details.


As an employer, you will need to complete the New Employer Application Form and include a copy of your VALID trade and business license in order for your employees to join the Plan. 


This is used to notify the Administrator of the details of each new employer, self-employed person, and voluntary member of the plan. The completed and signed form should be forwarded to the Administrator.  Then the Administrator will contact you for confirmation of membership.


The top part of the form is to be completed by employers and self-employed members. The second part of the form is to be completed by self-employed and voluntary members of the plan. The Deed of adherence on the back of the Employer Application must be signed by employers, self-employed and voluntary members.


Employers will be required to provide specific information, such as the type of business they are involved in, the name of the principal officer along with his/her title and contact details and the effective date the employer will be joining the plan.


Click here to visit our Employer Forms page for all forms needed.

Your Pension Obligations

As an employer, joining our Plan is straightforward. Please see How To Join Our Plan for more information. As an employer administering the Plan for your employees, it is your responsibility to ensure that all new employees receive an application form as soon as is practical. Please see our Enrolling New Members section for more information.  At the Chamber Pension Plan we want to ensure that all new employers and members are familiar and comfortable with the operation of the fund, right from the beginning. If you would like more information on the Chamber Pension Plan, feel free to contact the Administrator to arrange a meeting. It is our aim to establish and continue an excellent working relationship with all our members and employers participating in the Plan.

Which employers are required to provide a pension plan?

Every employer must provide a pension plan for every person working for that employer in the Cayman Islands. An employer who fails without reasonable cause to provide a pension plan or to make contributions to a pension plan for an employee is guilty of an offence and liable on summary conviction to a fine of five thousand dollars or on indictment to a fine of ten thousand dollars.

Which employees are required to join a pension plan?

Every employee (person working) between the age of 18 and 60 must be a member of a registered pension plan. A person is treated as working in the Islands if:

a) they report to work to an office of their employer located in the Islands; or

b) they are normally resident in the Islands and paid from an office which is situated in the Islands.

Every self-employed person either shall be a member of a registered and approved pension plan or shall contribute to a registered individual retirement account with an approved provider.

Full and part-time employees are required to be covered and so are casual employees, probationary staff and those employees on short-term contracts.

Where an employee is employed by more than one employer, each employer shall be liable to pay contributions to a pension plan for that employee.

There are provisions for employees that are already in an international plan.

While there is no provision in the Pensions Law for a probationary period, an interpretation of the Law may allow for a variation of a probationary period. Pension contributions must be held back from each employee`s earnings, matched by the employer, and paid into a Pension Fund on a regular basis (usually monthly). If an employee terminates employment within one month of being hired, the held back contributions and employer matching may be paid to the employee directly, and no pension contributions made on that employee`s behalf. If the employee does not terminate in less than one month, they must be enrolled in a pension plan and the held back contributions and employer matching paid into the pension fund.

Employers that already offer a local plan

An employer may already offer a pension plan to the employees. In general, no employer should offer a pension plan unless it has been registered by the superintendent. To register a pension plan, please consult the National Pensions Law.

Enrolling New Members

As new staff are added to your organisation, they must be enrolled in the Chamber Pension Plan.

As soon as is reasonable, have each new employee complete and sign an Employee Enrollment Form and provide a copy of their passport. If the employee has worked for an employer in the past that was part of the Chamber Pension Plan at the time, (not just their last employer, but any employer in their past) it is important to indicate this and fill in the employee’s membership number in the space provided. This will ensure that their new contributions will be added to their previous contributions.

Forward the signed form and passport copy to the Administrator to complete the enrollment process. Thirty days after they have been notified that a new member is eligible to join the plan, the Administrator will provide information about the provisions of the pension plan and a person’s rights and obligations.

Employee Contribution Records

The Employer Contribution Record is used to calculate and record the contributions being made by and on behalf of each employee. Employers must complete this monthly, and send a cheque for the total contributions payable to the Cayman Islands Chamber of Commerce Pension Plan, along with two copies of the Contribution Record to the Administrator.

Payments can either be made in CI or USD, and Butterfield’s Deposit Slip for the Chamber Pension Plan has been designed to facilitate contributions in both CI and US dollars (available at the Administrator’s office – 90 North Church Street or the bank branch). The deposit slip allows US dollars to be converted at a rate of 0.83333 CI dollars for each US dollar.

The most efficient way to make payments is through Butterfield online – if you have a Butterfield account, payment of your monthly contribution can easily be made with Butterfield’s online banking service. To set up payments, simply sign on, select Register Utility / Common, Chamber Pension Plan for the list of registered companies, add references and save (register payee). Once you have registered the Chamber Pension Plan as a payee, you have the option of making payments either as a Third Party payment or a Utility/Common payment, then forward the supporting Contribution Record by email to *protected email*.

Alternatively, you can complete the contribution record, print two copies and bring your contribution cheque, along with a completed Butterfield Deposit Slip for the Chamber Pension Plan, to any Butterfield branch.

You can also mail your contribution record and cheque, along with a completed Butterfield Deposit Slip for the Chamber Pension Plan, directly to the Administrator.

Note: While US dollar contributions are accepted, all correspondence (client statements, etc.) related to the Chamber Pension Plan and all withdrawals from the plan will be in CI dollars.

Click here to download an Employer Contribution Record.

How to Read Your Statements

As an employer, on an annual basis you will receive a statement reflecting all monthly payments received into the Plan from your organization. This statement will also include the date the payment was received as well as the contribution period the payment related to. In addition to the annual mailing, you may contact the administrator and request a statement for any specified period OR you also have the option of viewing your Chamber Pension Plan statement for any period online at any time; simply enter your user name and password on the Employer Login Page.  If you do not have a user name and password, contact the Chamber Pension Plan Hotline.

Alternatively, you can review your semi-annual statement which you will receive by mail or you may also request a statement at any time from the administrator. The statement outlines the date on which your contributions were made, for which period the contribution relates and the total contributions for the periods shown.

Through your online access, you also have the ability to create your employee listing. We recommend you do this on a regular basis to obtain new member numbers and to ensure your employee list is up to date with all additions and terminations.

Terminating or Transferring Members


When a member terminates employment, the former employer should outline the employee’s options as they relate to the Chamber Pension Plan. These options are as follows:


  • If the employee begins future employment with an employer in the Chamber Pension Plan, their pension contributions will remain intact and they can continue contributing through their new employer;
  • If the employee begins future employment with an employer that is not in the Chamber Pension Plan and wishes to leave their Chamber Pension Plan active, they can do so by becoming a voluntary member of the Chamber Pension Plan Plan. As a voluntary member, they can choose to continue contributing to the Chamber Pension Plan Plan while they are contributing to a different plan through their future employer;
  • If the employee begins future employment with an employer that is not in the Chamber Pension Plan and wishes to transfer their balance from the Chamber Pension Plan to their new employer’s plan, they can do so by completing an Individual Transfer Request Form. Click here to download a copy of the form. The completed form should be returned to the Administrator for processing;
  • The member can choose to retire if they meet the necessary criteria; or
  • If the member becomes a non-resident or is an expatriate leaving the Island, they can choose to apply for a refund (see Refunds).

The employer should notify the Administrator of the termination by attaching a note to the employer's contribution forms when they are sent to the Administrator.



When an employee wants to transfer their pension plan from one employer to another where both employers are part of the Chamber Pension Plan, the employee must indicate in the space provided that they were previously a member of the Plan and provide their membership number when completing a member enrollment form for the new employer.

This also applies if any employer in the employee’s past was part of the Chamber Pension Plan, not just their last employer.

If the employee provides their membership number, their contribution account will remain intact and contributions associated with the new employer will add to the employee’s existing account.

If the employee fails to indicate that they were previously a member and provide their membership number, the Administrator may not be able to distinguish the employee from a new member and may set up a new account for the employee. In this case, the employee will be issued an additional membership number. The contributions in their previous account will remain intact.

When membership of a pension plan is terminated, former members can choose to have the Administrator of the plan transfer their balance:


  • to another pension plan, if the administrator of that plan is willing to accept it.
  • into a retirement savings arrangement which is either an individual retirement account with an insurance company or other company licensed by the Cayman Islands Monetary Authority to undertake pension plans in the Cayman Islands; or
  • for the purchase of a life annuity that will not begin before the former member can retire on pension under the Pensions Law. The type of annuity purchased must meet the requirements set out in the Pensions Law.

Click here to download the Individual Transfer Request Form.


How to Join Our Plan

Your Pension Obligations

Enrolling New Members

Employee Contribution Records

How to Read Your Statements

Terminating or Transferring Members