Under the National Pensions Law, no member or former member is entitled to a refund; except under the following conditions:
A waiting period and/or proof of non-residency may be required (for example, a current letter from an employer confirming the member's address or a sworn affidavit of non-residency.)
If the value of the member's account is greater than CI$5,000, The National Pensions Law requires that after the completion of a two year waiting period members may transfer their account (with the approval of the Director of the Department of Labour and Pensions') to an approved retirement account in another country, or apply for a Retirement Savings Arrangement (RSA) to receive annual payments. Additional information and specific requirements are included in each of the refund packages.
As there are additional requirements based on the circumstances of members receiving a refund, there are different forms available, depending on the situation of the member. Please review each one to determine your best option, or contact the administration team, email@example.com for assistance.
Transfer to/from another Cayman Pension Provider
Transfer to an Overseas Pension/Retirement Plan (Account must be inactive for two years)
Additional Voluntary Contributions (AVCs) Redemption (For withdrawing AVCs only)
Early Retirement (Age 50 if born before 1970 OR age 55 if born January 1, 1970 or later)
Retirement Application (Age 60 if born before 1970 OR age 65 if born January 1, 1970 or later)
Refund Application Over CI$5,000 (Only applicable if no pension payments were made for any period after December 31, 2017)
Members should contact the Administrator should they have any questions concerning meeting the requirements for a refund. The Administrator can be contacted at firstname.lastname@example.org.
Administrative expenses incurred while executing the refund, such as draft and courier fees, will be deducted from the refund amount.