Tag: pensions
300 retired CIG workers get pension top-up
(CNS): Retired civil servants who have found themselves unable to make ends meet due to their meagre pensions are now receiving top-up payments from the public purse. The plan to ensure that the 300+ former public sector workers have an income at least equal to that of seamen, veterans and those receiving poor relief was […]
Public purse picks up tab for meagre pensions
(CNS): Premier Alden McLaughlin has said the number of elderly people who need support from government is growing every year because of the inadequacy of private sector pensions. He said the public purse will be topping up the income of pensioners “just to keep the wolf from the door” because the meagre provisions of private […]
New boss appointed for Chamber Pension Plan
(CNS): The not-for-profit Chamber Pension Plan, which has around 16,000 people enrolled in the plan, has a new senior manager of pensions. Saskia Stevenson was appointed following the retirement of Randall Fisher from the post of director of operations. She has spent the last twelve years involved with Chamber plan and she will now be responsible […]
CIG missed chance to help jobless, says MLA
(CNS): Alva Suckoo, the opposition member for Newlands, has said that the government missed the opportunity to help unemployed Caymanians take advantage of the vacancies created at the end of last year and employers have turned to permits to replace lost staff. Suckoo told CNS that recent press coverage claiming the pension exodus never happened […]
Private pensions and healthcare draining public coffers
(CNS): Premier Alden McLaughlin has made his most emphatic statement yet about private sector health insurance and pensions failing the people of the Cayman Islands, describing them during Tuesday’s Finance Committee meeting as breaking the government coffers. McLaughlin said government could not continue to carry people who cannot afford health cover when they retire because […]
Pension exodus emerging as reality
(CNS): The predicted exodus of expatriate workers as a result of changes to the pensions law appears to be becoming a challenging reality for Cayman. From small businesses losing experienced staff to mass departures from larger employers, the warnings that more than two thousand people could leave the island before the end of December appear […]
MLA urges action over potential ex-pat exodus
(CNS): The deputy opposition leader and independent member for Newlands is urging government to act now in preparation for what many believe will be an exodus of ex-pat workers at the end of this year over changes to the pension law. Alva Suckoo said that out-of-work Caymanians need to be trained now to fill vacancies […]
Public pension seeks input on new look
(CNS): The Cayman Islands Public Service Pensions Board (PSPB) will celebrate its 25th anniversary this year. With around 10,000 members, including current public sector workers and those who have retired from government work, the board wants to mark the milestone including creating a new logo. While members may feel there are far more pressing problems […]
Ex-pats get window to access pension cash
(CNS): The employment ministry has announced that the first of a long list of amendments made in May to the law dealing with the mandatory pension regime in the private sector will come into effect on New Year’s Eve. But it will take more than three years before the entire piece of legislation and regulations will […]
The plight of pensioners
MM writes: Government must address the amount of funds paid to retired civil servants on ex-gratia pensions. This amount is currently set at CI$300 per month for anyone who was employed for less than 10 years or CI$500 per month to anyone who was employed for 10 or more years with the government prior to […]
JMC focuses on pensions for UK citizens in OTs
(CNS): As the Overseas Territories Joint Ministerial Council (JMC) meeting kicked off on Tuesday, the question of pensions and healthcare for retired British citizens living in the territories appeared to dominate the talks. Peter Hayes, the FCO’s director of the overseas territories, opened the talks about retirees who paid into the UK pensions system and are […]
