How much do I need to contribute, as an employee?

If you are employed in the Cayman Islands both you and your employer must contribute towards your pension. The contributions that both of you make are related to your total earnings. Total earnings include salary, wages, leave pay, fees, commission or gratuity, as well as bonus payments that are more than 20% of your basic pay. Earnings do not include severance payments, retirement long service recognition payments, and health insurance premiums that are paid by the employer. Anyone earning more than CI$87,000 is not required to make pension contributions on the amount above CI$87,000 in a calendar year, although they may choose to do so voluntarily.  However, employers are only obligated to match contributions on the first CI$87,000 of income.


As an employee you should not be required without your consent to pay more than 5% of your earnings.


Every self-employed person must contribute a sum equivalent to 10% of their earnings.