Tag: Department of Labour and Pensions

Pension holiday extension confirmed

Pension holiday extension confirmed

| 30/09/2020 | 8 Comments

(CNS): Both employers and employees have been given a reprieve on mandatory pension payments for another three months. Government has extended the ‘pension holiday’ on the 10% payment on salaries until the end of the year. However, the emergency withdrawal scheme will not be extended and anyone who wants to access their pension cash must […]

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Ombudsman finds ‘serious issues’ with LT records

Ombudsman finds ‘serious issues’ with LT records

| 13/08/2020 | 49 Comments

(CNS): Claims by the Department of Labour and Pensions that it wasn’t sure where some records were in response to a freedom of information request was “a serious issue”, Ombudsman Sandy Hermiston said in her latest appeal decision. Hermiston has ordered the DLP to release dozens of records dating back to 2014, which it had […]

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7MB resort under pension probe

7MB resort under pension probe

| 06/07/2020 | 158 Comments

(CNS): The Department of Labour and Pensions has confirmed it is investigating the Margaritaville Beach Resort Grand Cayman for not paying its workers’ pension contributions. But the department has refused to release any details because of the ongoing probe into the issue. The hotel is believed to be one of several employers that were exposed […]

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DLP investigating Pensions Law breaches

DLP investigating Pensions Law breaches

| 26/06/2020 | 39 Comments

(CNS): Following the recent Public Accounts Committee hearings and a number of public complaints about some pension plan administrators not following the law in relation to the pension withdrawal scheme, the Department of Labour and Pensions (DLP) has said it is reviewing the situation. “Multiple pension plan administrators” were being checked, officials said, to ensure […]

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Pension boss justifies withdrawal fees

Pension boss justifies withdrawal fees

| 18/06/2020 | 114 Comments

(CNS): Varying fees being charged by private sector pension funds to people accessing their cash to help them weather the COVID-19 economic collapse, in line with the recent change to the law, were defended by government’s pensions boss on Wednesday. Concerns have been raised that some pension administrators are taking advantage of members by charging […]

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‘Culture change’ needed on private pensions

‘Culture change’ needed on private pensions

| 17/06/2020 | 70 Comments

(CNS): Public Accounts Committee member Chris Saunders made it clear to regulators today that the culture surrounding Cayman’s mandatory private sector pension funds needs to change. Saunders, who has been a vocal advocate against the system, said the Department of Labour and Pensions (DLP) did not have the resources to police the plans where administrators […]

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Tribunal breaches statutory timelines

Tribunal breaches statutory timelines

| 10/06/2020 | 48 Comments

(CNS): Almost a dozen cases before the Labour Appeals Tribunal (LAT) missed the statutory deadline, Ombudsman Sandy Hermiston has found following a maladministration investigation by her office. Despite breaching the statutory timeline for cases to be heard 11 times, there will be no consequences for the tribunal but officials have agreed to implement the directions […]

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Pension firms face 14,000 requests in a week

Pension firms face 14,000 requests in a week

| 06/05/2020 | 88 Comments

(CNS): Pension administrators managing the nine different pension funds for private sector workers have faced a barrage of emails and messages in the wake of the new law passed by government to allow people access to their money during the COVID-19 health emergency. Deputy Director of Pensions Amy Wolliston said they were all in a […]

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Bosses must follow labour law

Bosses must follow labour law

| 26/03/2020 | 77 Comments

(CNS): With mounting anecdotal evidence that local workers and permit holders are being unfairly treated by bosses during the national crisis created by COVID-19, the labour department is warning employers to follow the law. From workers being forced to use up vacation during the temporary shutdown to people being fired without getting a cent, some […]

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New Labour & Pensions website launched

New Labour & Pensions website launched

| 30/05/2016 | 10 Comments

(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 […]

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No minimum wage infractions reported yet

No minimum wage infractions reported yet

| 28/04/2016 | 38 Comments

(CNS): Enforcement officers from the Department of Labour and Pensions have begun inspections to make sure employers of low-paid workers are not paying employees less than the new national minimum wage of $6, and so far employers appear to be complying with the law. By this weekend, the inspectors will have completed the first 21 […]

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