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The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 March 2024 is as follows:

This February, the Chamber Pension Plan once again demonstrated its robust strategic approach towards securing its members' future. With an array of funds designed to cater to different investment horizons and risk appetites, the Plan's performance metrics are a testament to its prudent management and forward-thinking philosophy. The Net Asset Value (NAV) as of February 29, 2024, showcased impressive growth across the board. From the Income Fund at $3.08570 to the 2060 Fund at $2.24890, each fund reflects a careful balancing act between risk and return. Particularly noteworthy is the one-year performance, ranging from a solid 8.68% in the Income Fund to a remarkable 24.26% in the 2060 Fund. Such figures underscore the Plan's capacity to deliver value and peace of mind to its members. As we traverse through 2024, the Chamber Pension Plan remains committed to its mission of providing a secure retirement foundation. With an eye on the future, the Plan continues to adapt, innovate, and thrive, ensuring its members' retirement years will be as fruitful and worry-free as possible. Stay tuned to our updates for more details on each fund's performance and the strategies propelling this success. Let's look forward to a future where financial security and retirement readiness are within everyone's reach. For more information, visit chamberpension.ky.

Supplement No. 8 published with Legislation Gazette No. 7 of 8th February 2024.

Witness Your Investment Grow with Chamber Pension Plan's Lifecycle Funds! The Chamber Pension Plan stands as a beacon of growth and security. The remarkable performance of our 2060 Fund is a testament to this promise. In 2023 alone, the fund has witnessed a phenomenal growth of 24.20%! 📈 Each of our Lifecycle Funds is tailored to fit different stages of your career, ensuring your retirement plan is as dynamic as you are! Whether you're a young professional or closer to retirement looking for stability, we have a fund for you. 🔹 Chamber 2060, 2050, 2040, 2030 - Perfect for long-term growth. 🔹 Income Conservative, Income Growth - Ideal for nearing retirement. The Chamber Pension Plan is more than a savings scheme; it's a pathway to a future where your retirement years are as golden as the Cayman sun. Join us today and let your retirement savings take flight. For more information, visit chamberpension.ky.

In a world where the gender wage gap persists, women face unique challenges in securing their financial future, particularly when it comes to retirement savings. The disparity in earnings between men and women is not just a contemporary issue but a problem that compounds over time, affecting women's ability to save for retirement. The gender wage gap refers to the ongoing disparity in earnings between men and women. Historically, women have been paid less than their male counterparts for the same work. This gap, while narrowing, continues to impact women's financial stability, especially as they approach retirement. Longevity and Financial Planning Women generally live longer than men, which means they need more funds to sustain themselves in retirement. However, the wage gap makes it challenging to accumulate the necessary retirement savings. This longevity risk amplifies the need for robust financial planning tailored to women's specific needs. Strategies for Overcoming the Savings Shortfall Financial Literacy and Education: Empowering women with financial knowledge is crucial. Understanding investment options, savings plans, and the benefits of starting early can make a significant difference. Employer-Supported Retirement Plans: Encouraging employers to offer equitable retirement benefits and matching contributions can help bridge the savings gap. Policy Advocacy: Advocating for policies that address the wage gap and support retirement savings for women is essential. Personalized Financial Advice: Working with financial advisors to create personalized retirement plans can ensure that women's unique financial needs and longer lifespans are taken into account. Addressing the gender wage gap requires a collective effort. Employers, policymakers, financial institutions, and individuals must work together to create an environment where women can achieve financial independence and security in their retirement years. The gender wage gap presents a significant challenge for women's retirement savings. However, by understanding these challenges and employing strategic solutions, we can empower women to overcome this hurdle and secure their financial future. For a detailed understanding of these strategies and to join the conversation, please contact us for a consultancy.

Witness Your Investment Grow with Chamber Pension Plan's Lifecycle Funds! The Chamber Pension Plan stands as a beacon of growth and security. The remarkable performance of our 2060 Fund is a testament to this promise. In 2023 alone, the fund has witnessed a phenomenal growth of 24.20%! 📈 Each of our Lifecycle Funds is tailored to fit different stages of your career, ensuring your retirement plan is as dynamic as you are! Whether you're a young professional or closer to retirement looking for stability, we have a fund for you. 🔹 Chamber 2060, 2050, 2040, 2030 - Perfect for long-term growth. 🔹 Income Conservative, Income Growth - Ideal for nearing retirement. The Chamber Pension Plan is more than a savings scheme; it's a pathway to a future where your retirement years are as golden as the Cayman sun. Join us today and let your retirement savings take flight. For more information, visit chamberpension.ky.

In the Cayman Islands, known for its vibrant economy and thriving tourism sector, financial security often takes centre stage in the minds of its hardworking residents. One key aspect of ensuring long-term financial well-being is a robust pension plan. But why is having a pension plan so crucial for employees in the Cayman Islands? The necessity of a pension plan is underscored by the unique economic and demographic characteristics of the region. The diverse workforce, including expatriates and locals, needs a robust financial plan to navigate the complexities of life in a dynamic economic environment. The Importance of Pension Plans: Securing Retirement: Retirement may seem a distant concern, but it arrives faster than one might anticipate. In the absence of a government-provided pension similar to Social Security in other countries, securing one’s retirement relies heavily on individual savings. Pension plans provide a structured and disciplined approach to saving, ensuring that employees in the Cayman Islands can look forward to their golden years with confidence and security. Economic Volatility: The global economic landscape is often unpredictable. Industries, particularly tourism and finance, vital to the Cayman Islands economy, can be susceptible to global trends and crises. A pension plan acts as a financial buffer, ensuring retirees have a stable income source regardless of economic fluctuations. High Cost of Living: Healthcare, housing, and general living expenses can be significant, especially for retirees in the Cayman Islands. Pension savings help ensure that these costs are manageable in later years, alleviating the financial strain during a period when income typically decreases. Employer Contributions: As required by legislation, employers match the contributions made by employees to their pension plans. This essentially amounts to free money, boosting the overall retirement savings at no additional cost to the employee. Encouraging Financial Literacy and Responsibility: Being part of a pension plan encourages individuals to take an active interest in their financial future. It fosters a culture of savings and investment, essential skills for financial independence and security. For employees in the Cayman Islands, a pension plan is not just a financial tool; it's a crucial component of a secure and stable future. It represents foresight, planning, and a commitment to one's long-term well-being. As the islands continue to grow and evolve, the importance of these plans will only increase, underscoring the need for both employers and employees to prioritize retirement planning today for a more secure tomorrow.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 November 2023 is as follows:

The National Pensions (Amendment) Bill, 2023 received approval in Parliament on 23 November 2023. The amendments approved aim to increase the maximum amount permitted for withdrawals from pension plans for specific purposes such as: making deposits on the purchase or construction of homes purchasing residential property making reduction payments on mortgages or residential land loans paying off mortgages The Government’s objective is to improve the overall quality of life for Caymanians by creating and enhancing varied pathways to home and/or property ownership.  With the increased inflation and interest rates, allowing withdrawals from pensions for strategic purposes, the Government aims to empower Caymanians to make decisions that are in the best interest of their long-term financial health. Minister for Labour, Hon. Dwayne Seymour, said, “I extend my deepest gratitude to the esteemed members of Parliament for their unwavering support in endorsing the private member motion brought forward by my colleague from Bodden Town West to amend the National Pensions Act. This pivotal step forward reflects our shared commitment to enhancing the well-being of our citizens. Together, we stand united in our pursuit of a stronger and more compassionate society." Persons are reminded that these pension withdrawals are not a way to receive immediate cash in hand; instead, these are strategic withdrawals aimed at specific life milestones. Funds withdrawn from pension plans for these purposes will require repayment of an additional 3% monthly contribution into the member’s pension as a way to safeguard funds being available after retirement. Persons who wish to withdraw from their pension plan will need to complete a form and file the required documentation with their pension plan administrator.  The required forms will be available from their pension plan and can be found at www.gov.ky/border-control-labour As a reminder, persons under the Public Service Pension Plan, Parliamentary or Judicial plans are not able to make withdrawals as they are governed by different legislation. ----------------------------------------------------- Persons seeking to withdraw from their pension plan must complete the necessary paperwork and provide the required supporting documents for their application. Should any questions arise at any point during the process, those individuals may contact our office at 745 7630 or by email at admin@pensions.ky for assistance.

George Town, Grand Cayman 8 December 2023 - Members of the Cayman Islands Chamber of Commerce Pension Plan (“Plan”) met at their Annual General Meeting on 6 December. Those presenting at the meeting included Chamber Pension Chairperson Giosino Colaiacovo, Mercer Investments LLC (“Mercer”) representative Daniel Angello, and PricewaterhouseCoopers (“PwC”) auditor Trevor Dunbar. Also in attendance was Ms. Amy Wolliston, Deputy Director of Pensions, who fielded questions posed by members during a scheduled question and answer period. Chairperson Giosino Colaiacovo welcomed attendees and introduced the newly elected Board of Trustees: Ms. Brittany MacVicar and Mr. William Shaw, representing the Financial & Professional sector; Mr. Nigel James Clifford and Ms. Cinthya Zerpa, representing the Hospitality & Tourism sector; Mr. Pramod Joshi and Mr. David Mark Hindle, representing the Industry & Commerce sector; and Mr. Richard Freeme, representing the Voluntary & Self-Employed sector. Mr. Colaiacovo gave special thanks to outgoing trustees, namely, Mr. Grant Hiley, Mr. Bradley Kruger, Mr. Paul McGeough and Mr. Alessandro Sax. "The Board of Trustees would like to thank them for their diligent work and dedication during their tenure. Your individual and collective contributions will not be forgotten", said Mr. Colaiacovo. Mr. Daniel Angello, a representative from Mercer, presented an overview of the Plan's investment performance for the one year ending September 2023. Returns ranged from 5.59% to 22.40% across the investment options. Mr. Angello described the Plan's investment strategy as being on the leading edge of industry best practices. He noted the strategy operates within the boundaries established by the National Pensions (Pension Fund Investments) Regulations, while still capitalizing on innovative portfolio construction techniques. The approach aims to deliver competitive returns over the long-term for Plan participants within a prudent risk management framework. Overall, Mercer is pleased with the Plan's investment results relative to market benchmarks over this period. Mr. Trevor Dunbar of PwC noted a clean audit for the fiscal year ended June 30, 2023, with no areas of non-compliance. Ms. Amy Wolliston provided a high-level overview of the Government's strategic plan regarding Pensions, which was from a Parliamentary Statement delivered by Minister Seymour in September 2023. An actuarial study will be conducted in 2024 to review key factors such as the contribution rate, which is currently set at 10%, as well as considerations around the normal age of pension entitlement. Following the completion of the Study, a Select Committee comprised of all members of Parliament will be appointed to examine the findings and recommendations of the Actuarial Study to help determine the path forward for pensions. It is expected that a comprehensive review of the existing investment regulations will also be undertaken, after the release of the Select Committee’s findings. This review aims to modernize the regulations where needed. The Chamber Pension Plan has played an active role in shaping the Cayman Islands' pension landscape. Through our involvement with the Cayman Islands Pension Administrators’ Association Ltd., we have provided input and recommendations that will aid in modernizing the relevant laws and regulations. The process will incorporate feedback and perspectives raised by our membership. As such, members are strongly encouraged to contact any trustee to provide ideas and share thoughts or concerns regarding these important issues. The attendees advocated for boosting public awareness and education concerning pensions in the Cayman Islands. They discussed issues with employer delinquencies in fulfilling their pension obligations. The group also debated possible legislative or regulatory changes that could help curb delinquent behavior. Overall, members are concerned by the ongoing access to pension funds which undermines the very framework and intent of pensions. Members worried that without education on the significance of pensions, members will remain disinterested in their retirement savings which could have effects that cannot be remedied in time for retirement; thus, highlighting the urgent need for public awareness on pensions. The Plan will carefully consider the feedback received and will develop a formal action plan to directly address the concerns brought forth by members of the Chamber Pension Plan. Additionally, the Plan has issued this public statement to raise broader awareness of the observations and perspectives shared by members. -ENDS - For more information about the Cayman Islands Chamber of Commerce Pension Plan or what is coming in 2024, visit chamberpension.ky or its Facebook, LinkedIn or Instagram sites, email admin@pensions.ky or call 745-7630.

George Town, Grand Cayman, 5 December 2023 – The Chamber Pension Plan is proud to announce the successful conclusion of its Extraordinary General Meetings (EGMs), resulting in the confirmation of new trustees. This esteemed group of professionals represents a diverse range of industries, bringing a wealth of knowledge and experience to the Plan. We are pleased to introduce our new board members: Brittany MacVicar – Financial & Professional Nigel James Clifford – Hospitality & Tourism Pramod Joshi – Industry & Commerce David Mark Hindle – Industry & Commerce Richard Freeme – Voluntary & Self-Employed Each member brings unique insights and perspectives that are essential for the strategic direction and growth of the Chamber Pension Plan. Their combined expertise will undoubtedly strengthen our commitment to providing our members with a secure and prosperous future. In line with this exciting development, we cordially invite all our members to the upcoming Annual General Meeting (AGM), which will take place on Wednesday, December 6th, 2023, at 6:30 pm at Governors Square, Chamber of Commerce Boardroom. The AGM presents a valuable opportunity for members to meet the new board, gain insights into the Plan’s progress, and contribute to discussions on future initiatives. Your participation is crucial in shaping the future of the Chamber Pension Plan. This is more than just a meeting; it's a chance to be part of a community dedicated to securing a better financial future for all our members. We look forward to your valuable presence and contribution at the AGM. About Chamber Pension Plan The Cayman Islands Chamber of Commerce Pension Plan was established on 12 May 1992. The Plan is a non-profit pension plan committed to providing independent governance, transparent operations, and competitive, conservative risk-adjusted returns. It is our aim to provide the best-performing, most trusted pension plan for employees and businesses in the Cayman Islands in an efficient and cost-effective manner.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 October 2023 is as follows:

The Chamber Pension Plan is pleased to announce that the Adjourned Extraordinary General Meetings will be held on Monday, 4th December 2023, at the Chamber of Commerce Boardroom. The meetings’ aim is to elect trustees committed to protecting the fund’s assets, ensuring compliance with the Declaration of Trust (as amended) and the National Pensions Act and Regulations. The elected trustees will also focus on achieving optimal performance at the lowest operating expense and risk. You can review the list of interested Trustees here. How to Participate Members are encouraged to attend the meeting in person. Kindly confirm your attendance based on your voting category, as outlined in your official EGM invitation sent via email and/or postal mail. If you're uncertain about your voting category, don't hesitate to get in touch with us for clarification before submitting your RSVP. If you are unable to attend, you may appoint a proxy to vote on your behalf. Please complete the proxy form and forward it by email to admin@pensions.ky or deliver it in person to Saxon Administration Ltd., 14 Saturn Close, Eastern Avenue. The deadline for submitting proxies is no later than 4:30 p.m., 1st December 2023.

The Annual General Meeting (“AGM”) of the Cayman Islands Chamber of Commerce Pension Plan will take place on Wednesday, December 6th, 2023, at 6:30 pm at Governors Square, Chamber of Commerce Boardroom. RSVP or Proxy Submission for AGM Click here to RSVP or submit an electronic proxy form. If you are unable to attend the meeting, please appoint a proxy to attend and vote on your behalf by using the RSVP button above. Select "I will not be attending" and fill in the details of your appointed proxy. You must submit the online form NO LATER THAN 4:30 PM ON MONDAY, DECEMBER 4, 2023. A valid passport or driver's license is required with submission. Purpose of the AGM ​The AGM is a formal Members only meeting held once a year. The purpose of this meeting is for Members to be informed of the Plan's performance, meet the Board of Trustees, approve the previous year's minutes and participate in the question and answer segment. Report of Trustees ​The Board of Trustees is proud to provide the members with an overview of the Plan for the fiscal year ended 30 June 2023 and to preview the Plan’s AGM in the 2023 Report of Trustees. Questions? Please contact us at admin@pensions.ky or 745-7630.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 September 2023 is as follows:

Receive timely information about your pension, contributions, and vital updates. Keeping your contact details current ensures you don't miss out on essential communications in line with legislation. To keep you informed, we need your contact details and security information updated for all telephone and email inquiries. How can I update my details? It's easy! Simply click here to update your details and provide us with a few security answers for your account verification. The answers provided will be added to your file and used to verify your identification in the future. IMPORTANT: To ensure your information remains confidential, please do not share answers to verification questions with anyone. Who to contact for more information? If you have additional questions, please contact us at 345-745-7630 or send an email to admin@pensions.ky

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 August 2023 is as follows:

By Simon Cawdrey, Cayman Compass Columnist It’s time to talk about pensions again. Before going into detail, some quick reflections on why pensions in Cayman are so dis-loved, and why the distaste is quite unique. In most developed countries, individuals consistently contribute as much as possible into their pensions, going right up to the legal maximum. Cayman couldn’t be more different. Here the thought of contributing to a pension generates ennui at best and hostility at worst. But why? In most countries, with an income tax system, contributing to a pension is a pre-tax payment, meaning that pension contributions reduce your tax bill while enabling you to receive tax-free capital growth. In other words, there’s a huge economic incentive for people to contribute to a pension – an incentive that doesn’t and can’t exist in Cayman. Against this backdrop, it is perhaps more obvious why Cayman is in the situation it is. If people had an economic incentive to care about pensions, they probably wouldn’t be so disliked and there would be more concern paid to their existing flaws. As it is, despite the woeful situation of the pension system, the regulations and the plan options available, there never seems to be enough interest or angst to effect change. Hopefully this article can motivate more to care about something that impacts every single one of us and is, unfortunately, under-appreciated. The basic problems Three flaws exist in Cayman’s system: 1. Contributions are too low; 2. The retirement age is too young; 3. The regulations prevent optimal investment strategies being followed. The result is that the government will have to fund more people as they age, which is a hidden financial burden and not properly being accounted for (although recently acknowledged at least). The valid counterargument (in some instances) is that many people don’t rely on the pension system for their retirement because they have invested in property or other assets. Good news for these people as they have taken responsibility for planning for their future and will be better protected against the economic vagaries of retirement and have much less to worry about. One problem with this argument is that it only applies to a tiny minority of people. A second problem is that home ownership only helps in retirement if people are willing to sell their houses and downsize, thereby freeing up capital, since owning a house won’t pay for groceries. Some options What about those who don’t self-prepare? One perfectly valid approach is for government to tell individuals they must prepare for their own retirement and then if they fail to do so, warn them, in no uncertain terms, that there will be no safety net. In a theoretical world this approach should work. The threat of destitution later in life would be so pressing and worrisome that everyone would prudently prepare by saving money today and investing it for the future. Unfortunately, humans rarely conform to economists’ theoretical models. What we know, all too well, from economics and psychology, is that humans are generally terrible at preparing for the future. Take a very Cayman example: We all know what hurricanes can do, yet there’s a huge rush 48 hours before any storm to stock up on non-perishables at the supermarket, instead of preparing at the start of hurricane season. Simply put, it’s because humans are bad at preparing for the future. If we are so bad at preparing for hurricanes, which happen at predictable times of the year and with known ferocity, then it is perhaps no surprise that we are even worse at preparing for retirement. After all, no one who isn’t retired has ever experienced retirement. We have all experienced at least one hurricane season so we know what we should do, but still don’t do it. Only when we retire, can we learn to regret the decisions we made in our 20s, 30s and 40s. But, by then, it’s far too late. With this approach binned, we are left with two other options. One of the remaining two we shall call the “government option”. In this scenario we recognise that we are all terrible at preparing for retirement so why bother? Instead, we make it government’s problem. Government will provide a minimum level of income to ensure no one is below the ‘poverty line’ in retirement. That way the problem is managed by an entity that can take professional advice and plan for the long term. Can you hear the alarm bells ringing? First do you trust the government to adequately manage its affairs for the next 30 years, so your retirement is safe? Second, what if they get it wrong? Are governments such good stewards of money that this is the best option? Third, how do they pay for it? In Cayman, the majority of revenue the government collects comes in the form of tourism taxes, financial services taxes and import duty. Imagine if one of those experienced a sustained slowdown. The ability of government to meet its obligations is dependent on factors over which it has no control. Government can’t control the number of tourists, it can’t easily control the number of people who live here and therefore import goods, nor can it control financial markets. Thus, the viability of a pension system run by the government is subject to such incredible unknowns that it seems perilous to rely on such an approach. Bear in mind the earlier point about Cayman’s government not even properly accounting, today, for its future liabilities. Let’s return to Cayman’s current, much maligned, system Before going there, a quick bit of maths to set the scene. Imagine you want to retire on $60,000 a year. How much needs to be in your pension account? The number, according to the actuaries, is almost a million dollars. Have a look at your pension account. Is it showing a balance of $200,000? That means you will retire on $15,000 a year. Could you possibly, in Cayman, live on that amount? Of course not! And yet, many may not even have $200,000 in their account, meaning their retirement prospects are even worse. Many people in Cayman will retire on incomes that are woefully inadequate and suffer forms of hardship because of this. This will force the government to help out with ex-gratia payments or subsidies. But those subsidies are not accounted for by the government. They are not remotely in the government’s forecasts because this is often considered a ‘private sector problem’. But poverty, caused by poor government policy, can’t simply be washed away as being a problem for the private sector. Private sector employees vote, too, and if poor and retired, they will demand government support. Therefore, we need to fix the current system since government won’t be able to afford to fix the future problem. Read full article here: Cayman Compass Simon Cawdery, CFA, is an investment manager and governance professional who lives and works in the Cayman Islands. He writes regularly for the Compass on business and finance matters.

By Norma Connolly - Economist Marla Dukharan has urged the government to think twice before allowing Cayman residents to make more early withdrawals from their pension funds. Marla Dukharan Speaking on Radio Cayman’s ‘Talk Today’ show on Friday, 10 Aug., Dukharan questioned the wisdom of a recent proposal by legislators to amend the National Pensions Act to enable people to draw down their pensions to help pay off their mortgages. If that plan, proposed in a private member’s motion in Parliament in June, goes ahead it would be the second time in recent years that pension funds would be accessed early. During COVID, government amended legislation to enable people to raid their pensions when many were out of work and facing uncertain futures due to the pandemic. During that time, more than 43,000 people made early withdrawals totalling more than $489 million. In June this year, following the motion by Opposition legislator and former finance minister Chris Saunders, lawmakers voted unanimously for government to consider increasing withdrawal limits for Caymanians struggling with high interest rates to be able to access more money from their pension funds to pay towards mortgage or land loans. Continue reading here

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 of July 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 of June 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

Welcome to the Chamber Pension Plan! We're thrilled to have you on board and want to ensure that you clearly understand your pension. Here are some key points to keep in mind:

The Department of Labour and Pensions (DLP) has released a newly revised Guidance Note. This note pertains to the Retirement Savings Arrangement (RSA) schedule and introduces a revised Annual RSA Disbursement Figure, effective from 1 July 2023. In light of this revision, it is crucial to familiarize yourself with these changes as they may significantly impact your retirement planning and the way you access your pension benefit. Whether you choose to access your benefits through an annuity or a Retirement Savings Arrangement, this updated schedule provides a comprehensive view of the maximum amount that can be withdrawn annually, with consideration of your age and account value. Please take the time to review the attached document in detail. It is important to note that this schedule supersedes all previous documents circulated on the subject by the DLP. The DLP has also included a new implementation section in the guidance note that outlines the necessary steps and procedures to adhere to these new guidelines. We strongly encourage you to review this section to ensure you remain in compliance with the current regulations. As always, our team remains available to provide further clarification or answer any questions you may have about this revised Guidance Note. Thank you for your prompt attention to this matter, and we look forward to assisting you with a smooth transition to the updated RSA disbursement guidelines.

Grand Cayman, Cayman Islands - June 12, 2023 - The Cayman Islands Pension Administrators’ Association (CIPAA) is aware of the recent parliamentary decision to allow increased withdrawals from pension funds. We acknowledge the essence of this decision, rooted in providing immediate relief to Caymanian families during these challenging times. The complexities of the current economic landscape necessitate such interventions, and we empathize with the immediate needs of our people. However, we also see this as an opportune moment to fortify our collaboration with the Minister of Border Control and Labour, the Ministry responsible for Labour and Pensions. The CIPAA advocates for a more participatory decision-making process that ensures optimal outcomes for our members and the broader Cayman community. We maintain an open-door policy and remain committed to working in close partnership with the Government on matters concerning the private pension schemes and future savings of our members. Considering this development, the CIPAA is actively evaluating the potential long-term implications of this change on the stability and health of the pension plan scheme in the Cayman Islands. Our objective is to comprehend and prepare for the possible effects this could have on the retirement savings of our members. Once the law is officially passed and the necessary forms and guidance are received from the regulators, the CIPAA will promptly disseminate this information to our members. We understand the importance of clear communication and timely action in these circumstances. Our aim is to ensure our members have the most accurate and up-to-date information to make informed decisions about their pension funds. As we navigate this evolving landscape, we want to assure all our members and the wider community of the CIPAA's steadfast commitment to serving their best interests. We are eager to deepen our partnership with the Government, the Department of Labour and Pensions, and all stakeholders, thereby cultivating an environment that promotes open dialogue and collaborative decision-making. We are confident that by working together, we can build a more resilient future for our members and the broader community while preserving the longevity of retirement savings in the Cayman Islands. -END- About the Cayman Islands Pension Administrators’ Association (CIPAA) The CIPAA is an organization comprised of seven Multi-Employer Pension Plans committed to safeguarding the interests of pension plan providers and their members in the Cayman Islands. We strive to foster the development of effective pension policies and practices that ensure the long-term financial security of our members. For additional information, please contact info@cipaa.ky or press@story.ky

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 of May 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The pension scheme in the Cayman Islands has undergone significant changes since the first pension law was enacted in 1998. Driven by changing demographics, economic factors, and regulatory shifts, these changes have had a profound impact on both employers and employees, creating a pension landscape that is complex, diverse, and continually evolving. The Birth of Pension Legislation: The National Pensions Law of 1998 The introduction of the National Pensions Law in 1998 marked the birth of pension legislation in the Cayman Islands. This law made it mandatory for all employers to provide pension plans for their employees. It established a minimum employer contribution of 5% of an employee's earnings, matched by a 5% contribution from the employee. The Amendment of 2016: Greater Protection for Pension Holders The National Pensions (Amendment) Law 2016 introduced important reforms, including an increase in the retirement age from 60 to 65 years. It also increased penalties for non-compliance and provided more protections for pension plan members. These changes reflected the need to adjust to demographic shifts and extend the solvency of the pension funds. The Impact of COVID-19: The Pension Holiday and Withdrawals The global COVID-19 pandemic led to a temporary 'pension holiday', suspending compulsory contributions for a period, and allowed individuals under a certain age to withdraw a portion of their pension balances. This helped many Caymanians weather the economic storm brought about by the pandemic but also raised concerns about the long-term impact on retirement savings. The Digital Revolution: Technology in Pension Management The pension industry in the Cayman Islands has also been affected by the global trend towards digitalization. Providers have begun leveraging technology to offer online access to pension accounts and digital tools for retirement planning. This has improved the user experience and made pension management more efficient and transparent. As the Cayman Islands' pension landscape continues to evolve, several key trends are likely to shape its future. These include the continued shift towards personalized retirement solutions, the integration of ESG (Environmental, Social, and Governance) factors in pension investments, and the increasing use of technology in pension management. The current landscape of pension plans in the Cayman Islands reflects the dynamic interplay of demographic, economic, regulatory, and technological factors. Understanding these changes and trends is crucial for employers, employees, pension providers, and policymakers alike, as we navigate the complexities of retirement planning in the Cayman Islands. About this post This content is intended to provide an overview of the pension plans in the Cayman Islands. It is based on publicly available information as of the date of publication. For specific advice on pension management or retirement planning, readers should consult with a qualified professional or contact us for more information by emailing admin@pensions.ky

As we navigate the hustle and bustle of working life, it's often easy to overlook a fundamental truth - our working years are finite. Whether we choose to slow down or circumstances make it inevitable, there will come a time when we will retire from active employment. To ensure that this next phase of life is comfortable and secure, prudent planning is essential, and a well-structured pension plan is an integral part of this planning. Here's why having a pension plan for retirement is not just important, but crucial. 1. Financial Independence A primary concern for many individuals is maintaining financial independence post-retirement. A reliable pension plan can provide a consistent stream of income, which can cover your daily expenses and help maintain your lifestyle without dependence on others, be it family or friends. 2. Longevity Protection Thanks to advancements in healthcare, people are living longer, which is indeed a cause for celebration. But it also means a longer retirement phase, necessitating more financial resources. A pension plan provides longevity protection, ensuring that you won't outlive your savings. 3. Inflation Protection Inflation can erode your purchasing power over time. With many retirements spanning decades, inflation is a significant concern for retirees. A good pension plan includes mechanisms to counteract the effects of inflation, ensuring that your retirement income grows over time and maintains its purchasing power. 4. Peace of Mind Having a solid pension plan in place can provide peace of mind. Knowing that you have a consistent income source post-retirement reduces stress and allows you to enjoy your retirement years more fully. 5. Cushion against Emergencies Life doesn't stop throwing surprises post-retirement. Emergencies can occur, from health issues to unexpected home repairs, all of which can cause financial strain. A pension plan can provide the necessary cushion to manage these unforeseen expenses without severely impacting your regular cash flow. 6. Legacy Planning A well-structured pension plan can also aid in legacy planning. Many pension plans come with a survivorship benefit, ensuring that your spouse continues to receive benefits in the event of your death. Some plans also allow the remaining pension wealth to be passed on to your heirs. 7. Encourages Savings Pension plans encourage a disciplined savings approach. Regular contributions to your pension fund during your working years can accumulate into a substantial corpus, ensuring a smooth transition into retirement. 8. Tax Benefits In many countries, contributions to pension plans come with tax advantages, which can reduce your tax burden during your working years. The tax-free growth of pension funds can also lead to larger accumulations over the long term. In conclusion, having a pension plan is of utmost importance to secure your golden years. It not only assures a steady income flow in your retirement years but also offers financial stability, peace of mind, and an opportunity to leave a legacy. Therefore, it is never too early to start planning and investing in a suitable pension plan. It's not merely about retirement planning; it's about planning for a better, worry-free life phase where you can pursue your passions, spend time with your loved ones, and live with dignity and financial independence.

Today’s workforce is more informed and cautious about their future than ever before. The traditional model of work is evolving, and so are the needs and demands of the modern employee. One area that has seen a significant change in expectations is pension plans. Employees are no longer just concerned about the immediate salary package but also give substantial importance to long-term security through pension schemes. But what exactly are employees looking for in a pension plan? 1. Guarantee of Income The primary goal of a pension plan is to ensure a steady flow of income post-retirement. This income should be enough to take care of regular expenses, healthcare costs, and offer a good quality of life in retirement. Employees are looking for plans that guarantee a specific income after retirement based on their current earnings. 2. Flexibility Every individual’s financial goals and circumstances are unique, and this reality is reflected in their retirement planning. Employees appreciate the flexibility to choose and alter their contribution rates, select investment options, or even the payout method at retirement age. The option to nominate beneficiaries is another aspect of flexibility that employees look for in a pension plan. 3. Transparency Transparency is another major factor that employees value. They want clear, accessible information about how their funds are being managed, the costs involved, and the returns on investment. This transparency helps them monitor their savings' growth and gives them the confidence that their funds are being well-managed. 4. Early Withdrawal Options Life is unpredictable. There may be times when an employee faces a financial crunch and needs access to their pension funds. Therefore, pension plans that allow early withdrawals in case of emergencies, though with certain restrictions, are preferred. To know more about How you can withdraw money from your pension, click here. 5. Employer Contributions Employer contributions significantly enhance the attractiveness of pension plans. It is essentially 'free money' towards an employee's retirement savings, and employees highly value employers who match their contributions or contribute a fixed percentage of their salary. 6. Investment Options Employees appreciate pension plans that offer a variety of investment options. Some may prefer to invest heavily in equities for potentially high returns, while others might want a more balanced portfolio. Providing a range of investment choices allows employees to align their pension savings with their risk tolerance and financial goals. At Chamber Pension Plan our pension funds are called Lifecycle funds and are based on your age and your projected retirement date. The reason we have different funds for different age groups is that as you age, your investment risk tolerance, portfolio time horizon, and investment goals normally change. Lifecycle Funds reflect your changing needs throughout your working life by automatically adjusting the combination of assets they invest in based on your age to reflect your evolving investment needs and goals. 7. Advice and Guidance Finally, many employees value advice and guidance on managing their pension savings. This could be in the form of online resources, one-on-one counselling, or retirement planning workshops. Support in navigating the complex world of pensions can make a significant difference in an employee's retirement readiness. As employers, understanding these expectations can significantly help you design a pension plan that attracts and retains talent. Remember, a good pension plan not only provides your employees with financial security in their retirement but also demonstrates your investment in their long-term well-being, a factor that many employees highly appreciate in an employer.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 of April 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 of March 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Department of Labour & Pensions advised the public of important updates to the National Pensions (Amendment) Act, 2016. Please see below important updates:

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 28 February 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Department of Labour & Pensions advised the public of important updates to the National Pensions (Amendment) Act, 2016. These changes affect all employers and especially, those failing to correctly submit their monthly pension contributions. Here is what you need to know:

Cabinet approved a new Commencement Order to bring into force parts of the National Pensions (Amendment) Act, 2016. “We welcome the commencement of these provisions which will fortify the pension regime whereby non-compliant employers will be held more accountable, members will be provided with greater information, administrators’ responsibilities will be increased and the Department of Labour & Pensions will be strengthened”, said Director of Labour & Pensions Bennard Ebanks. Using a phased approach, the Commencement Order has varying effective dates with the first effective from 1 January 2023 whereby all Pension Plan Administrators (PPAs) will be required to host Annual General Meetings (AGMs) and provide members with statements on a semi-annual basis, which can be issued electronically or hard copy, with the members’ consent. While some PPAs voluntarily provide AGMs and frequent statements, these changes are important revisions which establish an opportunity for all members to attend an annual meeting with their pension plan administrator to learn more about the plan and discuss their concerns. Furthermore, the increase in statement frequency from annual to semi-annual will provide members with more information about the plan’s expense ratios and investment return as well as their employer’s payment of the required monthly pension contributions. Commencing 1 March 2023, a number of sections will commence starting with the Department of Labour & Pensions’ (“DLP”) requirement to publish a list of all registered pension plans, their PPAs as well as the agents of the PPAs, ie: key service providers. The additional information will allow the general public to have an official list of registered pension plans so they can verify that their pension plan is properly registered with the regulator. From an enforcement perspective, new key provisions will be the Court’s ability to impose higher fines and possibly, imprisonment for employers, on summary conviction. Magistrates in Summary Court have expressed their perspective in open Court, on several occasions, that stronger penalties were needed for employers to take offenses seriously. Effective 1 July, PPAs will be required to notify the employees of a delinquent employer, within 60 days of notifying the DLP. In order for the administrator to fulfill this requirement, pension plan members are encouraged to contact their PPAs to update your contact information including email or mailing addresses. PPAs will also have an obligation to collect interest on delinquent contributions as well as take action when an employer is delinquent including contacting the employer or employees in relation to the issue. If it is not resolved, then the administrator will report it to the DLP, and after 60 days, notify the affected employees. In addition, the PPAs will have the option of publishing the names of the employers. Additionally, the DLP can demand the appearance of a delinquent employer in order to address the pension arrears and will also have the authority to publish breaches under the National Pensions Act. These provisions are added to the ongoing ability to establish payment plans and prosecute employers for offenses. In October, an Administrative Penalty System will be introduced which will create another enforcement tool for the DLP, similar to other departments with an enforcement mandate. The requirement for on-going PPAs training will also be introduced in October. As a result, all new and ongoing PPAs will be required to provide the DLP with supporting evidence of their training on the management, administration and investment of the pension plan. Additionally, training on the National Pensions Act as well as the PPAs fiduciary duties are requirements. The enactment of the Commencement Order will ensure that the DLP can fulfill its obligations under the National Pensions Act and effectively enforce the legislation as well as enabling the Courts to effectively dispose of related cases. Deputy Premier and Minister for Border Control & Labour Hon., Chris Saunders said “the commencement of these sections of the National Pensions (Amendment) Act are long overdue. It’s important that pension providers educate their members on the pension plans they are entered into and for employers to remain in compliance with the regulations that guide them. The National Pension Act was enacted for the benefit of employees and these changes were made to increase transparency and members' engagement. It is therefore important that employees take the time out to understand their Pension Plans to better plan for their future." The remaining few provisions of the Amendment Act are to be implemented in a phased approach, after the review of the existing National Pensions (Pension Fund Investments) Regulations. Any future amendment proposals or changes will require Cabinet approval before implementation. To read the National Pensions (Amendment) Act, 2016 Commencement Order 2022 visit www.dlp.gov.ky or for further enquires contact 945-8960 or email dlp@gov.ky. Source: gov.ky

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 January 2023 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 December 2022 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Board of Trustees at the Chamber Pension Plan is ultimately responsible for the management and administration of the Plan. They take on an active, hands-on role in guiding the Plan, ensuring that the Plan always serves the best interests of all its members. Click here to access our Trustee volunteer form Below are some of our most frequently asked questions.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 November 2022 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

George Town, Grand Cayman, 8 December 2022 - Members of the Cayman Islands Chamber of Commerce Pension Plan met at their Annual General Meeting on 7 December. Those presenting at the meeting included Chamber Pension Chairperson Giosino Colaiacovo, Mercer Investments LLC partner Amy Labanowski, and PricewaterhouseCoopers auditor, Andrew Shannon. More Members & Lower Expense Ratio Despite a challenging year for the global economy, the Chamber PensionPlan managed to successfully conclude another year of operations, with membership increasing by approximately 1%, totalling over 16.3K current members. Additionally, the annual all-in-expense ratio decreased from 0.80% to 0.75% for the financial year ended 30 June 2022, meaning lowered expenses and increased returns thanks to the expertise of the Plan's established investment advisers in conjunction with the efforts of the volunteer Board of Trustees. Performance & Global Market Volatility It was also reported that due to this year's market volatility(1)and the pension holiday imposed by Government since 2020(2), the Plan's total assets decreased by approximately 12% compared to the prior year, with a total investment portfolio of KYD$336.09Million at June 30, 2022. Administrator Agent Update As of 1 March 2022, the Plan changed the Administrator’s Agent from MUFG Fund Services (Cayman) Ltd. to Saxon Administration Ltd. and Intertrust Group. The Board chairperson, Mr. Giosino Colaiacovo said the Plan was pleased with the excellent services provided by Saxon Administration Ltd., and Intertrust Group. Mr. Colaiacovo pointed out that the service improvement included a superior customer service call back feature, faster response time, an enhanced customer online portal, which was reconstructed to include enhanced features and streamline member statements; and a streamlined redemptions and payments process which has replaced drafts with local cheques, thus reducing wait time. Board of Trustees Last year, Mr. Giosino Colaiacovo was reappointed as one of the two Chamber of Commerce appointed Trustees. The Board is pleased that Mr. Colaiacovo has accepted a second term and looks forward to his continued expertise and knowledge. Mr. Colaiacovo is the Chair of the Board of Trustees and has served in this capacity since April 2020. The Board’snext anticipated changes will be in November and December 2023, when 7 Board members' terms will expire, and 3 of the 7 individuals will be required under the current Trust Deed to step down from their trustee roles. Those persons are as follows: Bradley Kruger, Paul McGeough, Grant Hiley. "The Board of Trustees would like to thank them for their diligent work and dedication during their tenure. Your individual and collective contributions will not be forgotten", said Mr. Colaiacovo. -ENDS - For more information about the Cayman Islands Chamber of CommercePension Plan or what is coming in 2023, visit chamberpension.ky or its Facebook, LinkedIn or Instagram sites, email admin@pensions.ky or call 745-7630. Background The Cayman Islands Chamber of Commerce Pension Plan was established on 12 May 1992. The Plan is a non-profit pension plan, committed to providing independent governance, transparent operations, and competitive, conservative risk-adjusted returns. 1. Update on MarketVolatility from Mercer The third quarter of 2022 was another weak quarter for financial markets with most asset classes performing badly on the back of still high inflation and the related tightening of monetary policy across the globe. Global equities fell 6.1% in the third quarter taking year to date losses to 25.1%, close to the worst first nine months of the year on record. Bond yields rose sharply in most parts of the world with a number of central banks, including the US Federal Reserve, saying they intended to take interest rates to contractionary levels to ensure a period of slow economic growth. US 10-year bond yields are now nearly at 4% for the first time since 2010, while UK gilt yields rose even more dramatically. Global economic growth remained soft in many parts of the world. While there were some welcome signs that global labour markets might be loosening, they remain very tight and are putting upward pressure on wage growth in the US, UK, and some other countries. In Europe, electricity and gas prices soared to many times normal levels as natural gas flows from Russia continued to slow. Headline inflation remained at very high levels in most countries. However, there were some tentative signs that inflation might have topped, especially in the US, although it remains unclear when inflation will return to normal levels. We expect global economic growth to remain soft for the next few quarters as most central banks, especially in the developed world (ex Japan)raise interest rates to intentionally lead to a period of sub-trend growth with the goal of loosening labour markets and thus wages and inflation. The outlook for inflation and its impact on Fed policy likely will remain the key driver of the markets’ direction. The drag likely will intensify into 2023, increasing the risk of at least a mild recession in the US. The good news is that household balance sheets remain strong, which should cushion household spending and prevent a deep downturn. Lastly, the Russian-Ukraine conflict, European energy crisis, and China’szero-COVID policy and real estate crisis, continue to be risks to global growth. Read full report here: https://www.chamberpension.ky/post/mercer-recent-market-volatility 2. Update on PensionsHoliday The pension holiday came to an end on 30 September 2022. Employers, employees and self-employed persons have once again resumed mandatory pension contributions as required by the National Pensions Act. The deduction of pension contributions commenced with earnings for October 2022 and the payment of a mandatory 10% pension contribution was due by the 15th of November and thereafter every month going forward.

We are proud of our product and continually seek ways to deliver better transparency to our members. Below is a record of the Chamber Pension Plan's financial performance for 2022.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 October 2022 is as follows: Related articles: https://www.chamberpension.ky/post/mercer-recent-market-volatility

The Board of Trustees of the Chamber Pension Plan invites our Members to attend the Annual General Meeting ("AGM") on 7 December 2022 at 6:30 PM at the Chamber of Commerce Board Room, Governors Square. RSVP or Proxy Submission for AGM Click here to RSVP or submit an electronic proxy form. If you are unable to attend the meeting, please appoint a proxy to attend and vote on your behalf by using the RSVP button above. Select "I will not be attending" and fill in the details of your appointed proxy. You must submit the online form no later than 6:30 pm on Monday, 5 December 2022. A valid passport or driver's license is required with submission. Purpose of the AGM ​The AGM is a formal Members only meeting held once a year. The purpose of this meeting is for Members to be informed of the Plan's performance, meet the Board of Trustees, approve the previous year's minutes and participate in the question and answer segment. Report of Trustees ​The Board of Trustees is proud to provide the members with an overview of the Plan for the fiscal year ended 30 June 2022 and to preview the Plan’s AGM in the 2022 Report of Trustees. Questions? Please contact us at admin@pensions.ky or 745-7630.

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 30 September 2022 is as follows: Related articles: https://www.chamberpension.ky/post/market-update-from-mercer

It’s a sobering fact that in the UK, women aged between 65 and 74 years old will have saved half as much money for retirement as men the same age, according to an analysis conducted by Scottish Widows to mark this year’s International Women’s Day. The analysis reveals that women in this age group will, on average have pension savings worth GBP 130,000, whereas men will retire with GBP 260,000 in their pot. While the gap between the proportion of men and women saving adequately – defined as putting away a minimum of 12% of their salaries – disappeared for the first time on record in 2021, for older women these recent improvements have had limited impact. Because women are more likely to work part-time in lower paid industries, and take more time out to bring up their families, a woman will need to work an extra 37 years to allow her to have a pension pot the same size as her male counterpart. Read full article here: https://www.internationalwomensday.com/Missions/18113/Why-do-women-have-half-the-pension-of-men

For children and teenagers, saving for retirement is a tricky concept – after all, they’re not even on the career ladder yet, so the idea of putting money away for a date more than 50 years in the future may seem excessive or even unnecessary. However, like many financial topics, there are huge advantages to learning these lessons early. We asked Russell Winnard, Director of Programmes and Services at Young Money, how to broach the subject. Why is it so important? “Saving for retirement is probably the biggest investment your children are ever going to make,” says Russell. “But it may not feel like that at the beginning – and seeing a proportion of their income seemingly disappear when they finally start earning may not feel like it’s in their best interests.” That’s why learning this early on is key – because the longer that money is invested, the harder it will work for them – and why speaking to your children about pensions and retirement is essential for their financial education. “The timelines involved are vast, but just like savings and other types of investments, these are concepts that are important for young people to grasp in order for them to reap future benefits,” says Russell. Read full article here: https://natwest.mymoneysense.com/parents/articles/how-to-talk-to-your-children-about-pensions-and-retirement/

The pension holiday ended on September 30, 2022. In this regard, the Cayman Islands Government has decided that there will not be an extension to this timeframe. Employees and companies should plan for the resumption of these payments starting with October earnings. Additionally, the year’s maximum pensionable earnings for the remaining three months of the year (October to December) have also been addressed by the release of the NATIONAL PENSIONS (MAXIMUM PENSIONABLE EARNINGS) ORDER, 2022. The annual contribution cap for 2022 has been prorated to KYD 21,750. What's Next? Remitting Contributions Each participating employer must remit monthly contributions—mandatory contributions, AVCs, and the housing repayment of an additional 1%—to our Administrator’s Agent (Saxon Administration, Ltd.) starting with October earnings. It is up to the employer to: Calculate employer and member contributions. Deduct member contributions from the payment. Complete the Contributions Input Form: https://www.chamberpension.ky/employer-forms and submit it via email to admin@pensions.ky Keep detailed records, as required by law. Contributions can be made via cheque, direct deposit, or wire transfer. https://www.chamberpension.ky/employer-contribution-records Contribution Deadline and Currency Contributions should be made monthly and sent to the Chamber Pension Plan within 15 days of the month's end, e.g. October contributions are due by November 15th. If an employer is unable to make payment by the deadline date, they must notify the plan at admin@pensions.ky Contributions can be paid in either Cayman Islands (KYD) or US dollars. Contributions received in US dollars will be converted to KYD at a fixed rate of $0.83333. Employer Portal Did you know that you can download all member numbers on our employer portal? Also, you can access the following: Electronic Enrollment Forms Electronic Termination forms List of Member Numbers (updated immediately upon enrollment!) Populated Contribution Sheet Secure access to upload confidential documents. Monthly Reports To gain access to the employer portal, please contact admin@pensions.ky

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 August 2022 is as follows: Related articles: https://www.chamberpension.ky/post/market-update-from-mercer

The Compendium of Statistics released in 2013 by the Economics and Statistics Office of the Cayman Islands shows that the country’s Life Expectancy at Birth is 82.3 years. Males are expected to live 79.8 years and females 84.7 years. Figures on life expectancy are required data for pension and insurance purposes, particularly in calculating expected retirement benefits. Life expectancy is also often used as a measure of a country's quality of life. The more developed a country is, the more likely it is that life expectancy will be higher. According to a World Health Organization database, Monaco had the highest life expectancy in 2013 at 87.2 years. Cayman has the same life expectancy as France, which is ranked 14th in the world, at 82.3 years. In comparison, the UK is 29th with an average life span of 81 years, and the US is 35th with an average life span of 79.8 years. Source: https://www.eso.ky/life-expectancy-for-the-cayman-islands_12237.html#5

The Net Asset Value (NAV) of the Chamber Pension Plan funds as of 31 July 2022 is as follows: Related articles: https://www.chamberpension.ky/post/market-update-from-mercer