New Labour & Pensions website launched
Cayman Islands Department of Labour& Pensions website
(CNS): The Department of Labour and Pensions (DLP) has launched a new website and created a Facebook page to help people navigate the new legal environment surrounding the minimum wage and pensions following the implementation of the Labour (National Minimum Basic Wage) Order in March and the passage of the National Pensions (Amendment) Bill, 2016 in the Legislative Assembly earlier this month. The site is home to the laws and answers to frequently asked questions, and has information about the department. Employees and employers can use the minimum wage calculator on the site to determine if wages are being paid in accordance with the order.
“It is important that employers and employees alike are aware of the impending changes and how they will impact their lives in the workplace,” said Employment Minister Tara Rivers. “The goal is to give people as much information as possible so that they can make informed decisions about their future as it relates to pensions and retirement, and also to ensure that they are compliant with the labour and pensions laws of the Cayman Islands.”
While the website contains the important facts and resources, the DLP’s Facebook page will be the source for latest news and information coming out of the department, officials said as the new site was launched.
DLP Director Bennard Ebanks said the site and FB page would be invaluable mediums to provide material to help the public.
“It will give employees and employers the ability to access relevant Labour and Pensions Law developments and resources,” he said. “The NPL is a result of a highly engaging consultative and legislative reform process, and although the laws themselves are very comprehensive, the DLP Facebook page and website will aim to break the information down, and make it easier to understand.”
Ebanks reminded the public of the confidential hotline (945-3073) that people can call to report labour and pensions law violations.
Category: Jobs, Local News
My term limit is in two months time I’m leaving with no intention of coming back anytime soon I’m thinking its their policy with the roll over u can’t change that we have to comply with the laws. It should be inplace with the pension providers that upon prove when one is rolling over they are provided with their 5% which is their own money taken from their salary to go home with … Then after two years staying out of the island will therefore be granted with the remaining 5% .its unfair to wait for to go without your % let alone to wait two year before applying…. If they want the employers 5% I would say then go ahead keep it but please give me what I wrked so hard for ….. My 5%….
This is a lowered expectations government that will heap more and financial responsibility onto the people to cover for its mismanagement and poor people practices. Why do lazy civil servants who waddle into their second floor workstations late most days get so well looked after? Why are some people allowed to go off for an extra hour in addition to their lunch hour to pray and why are we paying them for it?
Clearly favoritism as the attitude and approach to work do not light up the place. I have noticed a lot of wasted resources but I guess it has nothing to do with me because that’s how they do business.
I’m all for putting aside money for retirement, and employers contributing to that, but putting that money in the Cayman pension funds is hardly good financial planning! I think if these funds were performing well then we wouldn’t have to complain so much, but they are not, and what is being done about that??
It is shocking news to all the expats working in this country.They should realize that these pension money are their hard earned money saved for them (expats) for their future plan once they go back to their own country, and no one has a right to hold their hard earned money by implementing these harsh rules just to hold their (Expats)money and make them to suffer for 3 years just to get their hard earned money while they worked in the Cayman Islands. Infact, the pension board should clear the pension as soon as an employee (Expat) finish his 9 years.Please change the upcoming harsh rule that can only disappoint these poor expats working in this country. Make this rule applicable to Caymanians and not for the expats as they have to leave on finishing their contract. This is very unfair.
This whole pensions debacle is going to cost everyone very dearly. Those who have sizeable pension pots built up over many years or have contributed high premiums due to high salary levels probably have most to lose. But let’s not forget those on modest and low incomes who have planned their futures around the deal that gave them a period of employment before being rolled over, to save enough and leave with a small savings pot to resettle with.
All of these hard working, honest and sometimes exploited people are going to be shafted by this disgusting plan to steal their money for two years without so much as a penny in interest.
Whilst some will say that a pension isn’t normally paid until 65, that is quite true in most country’s, however this isn’t most country’s, this is a place that needs expat labour to function. So it needs a relatively short term workforce that contributes to the national wealth, but has no intention or capability of staying into retirement. Basically they are exploited from day one by complying with a pension policy that they don’t want or don’t need.
But this isn’t about them, it’s about the entitlement mentality this is so prevalent on these islands. The entitlement to exploit those who build up the country so that they can feather their own beds without lifting a finger to support those they take from. I believe they call themselves MLA’s.
They know full well that by grabbing pensions without a running in period that is acceptable to existing policy holders, great financial hardship and/ or disruption is possible. They could implement this law in stages over a couple of years, giving people a chance to plan. They could also make it applicable to new arrivals only. But no, they want the money now, WHY?
The real reason for this grand theft is simple, someone is trying to plug a hole in some corner of a pension scheme, (probably CIG’s) or finance a grand infrastructure project, (cruise ship dock, airport or the national debt) with our money. When governments start grabbing money from legitimate pension or savings sources, then you know that there is a big problem that they are not revealing to the population.
The British Labour Party raided pensions a few years back, the reason, they had spent everything else and so the country fell victim to the worst financial crisis in generations.
It is dishonest and it will blow up in your faces as it did theirs.
I sincerely hope that those affected will stand their ground and make this country pay for its dishonesty. There are already signs that some are getting out whilst they can and some are talking about organising a rolling programme of the withdrawal of labour by all expat workers.
If it takes drastic, peaceful action to bring these uneducated idiots in the LA to their senses, then that’s what should happen. Make no mistake, one days action would wipe millions off this country’s income and do serious damage to its international reputation. A weeks action could cripple the country permanently.
Because simply put, if the expat workforce doesn’t turn up one morning, nothing will work, absolutely nothing. Think about it.
And the money you think you are making from stealing our funds will just disappear along with your own national wealth. We would rather lose a weeks pay than the 1000’s of $ that we would lose over two years of enforced financial denial. Of course you could fire us, but then what will happen?
This place will be a micro Jamaica within two weeks.
I sincerely hope it doesn’t come to that, but be warned, there’s a lot of anger out there.
We never wanted your pension, like most things Cayman it was ill thought out and appallingly managed, now it is bordering on mandated theft. This won’t end well.
When is the Brac office re-opening and what is the contact information for this office in the Brac. This does not appear to be on either web site or face book.
I note with interest that the Labour Department web page states:
“The Labour Investigations Unit in the DLP, which is headed by the Deputy Director (Labour), deals mainly with individual disputes of rights regarding matters such as non-payment of vacation pay, sick leave etc.… ”
The key part here to me is “matters such as non payment of vacation pay, sick leave etc…..”
If this is so then why did they tell a certain client who has a matter against certain politicians that they cannot help and that is not their job but the matter is civil and they must take it to court.
JUST ASKIN?????
it’s just not possible to make informed decisions about pensions and retirement when the government decides to change the deal whenever they want. All of us who have contributed to the compulsory pension schemes have had our financial planning destroyed by this new law in one quick swipe.
What is the point of providing “people as much information as possible so that they can make informed decisions about their future as it relates to pensions and retirement” if 11 years after making such informed decisions the government can simply change the rules retroactively? I knew perfectly well what the information was for the past 11 years until arbitrary changes were made rendering my decisions regarding my future as it relates to pensions and retirement completely wrong. Tara Rivers has absolutely no idea what she is doing as it relates to pensions and retirement. None. Zero. All she is doing by changing the pension laws is costing us money. Her proposed changes will result in me being taxed on the entire pension amount. Well done Tara. Well thought out.
-Isme
Can anyone clarify if this new pension law is in force yet?
If it is, can existing members take their pensions in cash when they leave?
Is this government pensions, private pensions or both?
Have the pensions ran out of money yet?
Is there anyway to challenge this?
I think this will probably tip my decision to leave to be honest.