Tag: National Pensions Law
Private pensioners get access to more of their cash
(CNS): Residents living on private sector pensions can now access marginally more of their own money this year as the Department of Labour, in consultation with the National Pensions Board, approved an increase in the 2024 Retirement Savings Arrangements (RSA) disbursement figure from CI$14,125, the current maximum annual payout, to CI$15,000, effective 1 June.
Ministry gets OK from OCC over pensions report
(CNS): Following amendments to the National Pensions Law, the Office of the Complaints Commissioner has agreed that the 21 recommendations made to the employment ministry in a report first published almost six years ago have finally been largely complied with. In a statement to her colleagues in the Legislative Assembly on Friday, Employment Minister Tara […]
Awareness campaign to start on pensions
(CNS): Following some 50 amendments to the legislation surrounding Cayman’s mandatory, private sector pension regime, Employment Minister Tara Rivers said that the new law would come into effect gradually. While several of the sections will be implemented together, other sections will require a longer transition phase to allow for public education and for the administrators […]
Consequences of changes to pension law
‘Equal rights for some’ writes: Want to know the true cost of this pensions raid on us, to me? To you, as an expat? I’m a real estate professional with decades of experience and whilst commonly not respected or listened to here (when is advice listened to here?) you are going to want to listen now.
Rivers steers through imperfect pension bill
(CNS): The employment minister managed to steer through what she admitted was a less than perfect amendment bill that makes more than fifty changes to the pensions law, including an increase in the retirement age from 60 to 65. Tara Rivers lauded the extensive consultation process her ministry held over the amendment bill and said […]
