Bucket List #15

Learn to make pasta

Now that I've retired, Chamber Pension Plan allows me to EXPLORE RECIPES!

National Pensions Law

Know your rights – National PensionS Law

 

  • Every employee in the Cayman Islands must have a pension provided by their employer
  • The self-employed, those working part-time, casual workers, probationary staff and people on short-term contracts are included
  • If someone has more than one employer then each employer must pay into the employee’s pension plan
  • Expatriates who have been in continuous employment for more than nine months must have a pension plan
  • The only people excluded are expatriates employed to do housework in private homes
  • Employees and employers must each contribute a minimum of 5% of the employees’ earnings to a pension plan

 

You can also visit dlp.gov.ky and click here for more information about pension laws in the Cayman Islands.

 

UPDATE

As you may be aware, the National Pensions (Amendment) Law 2016 passed in the Legislative Assembly and has now been published in the Gazette. 

The Amendments will not come into effect until there is additional public education on the new sections and an Order is issued by Cabinet which will identify the implementation dates for sections.  Please note the Amendment Law does not come into effect upon being published in the Gazette. The Ministry and the DLP is presently working on the implementation plan and further information will be released in the near future.

Until such time as the Amendment comes into effect, the current requirements of the National Pensions Law (2012) remain in effect and employers, employees as well as pension plan administrators and members are expected to comply with these requirements.