Tag: Public Service Pensions Plan
Retired civil servants receive $450 summer bonus
(CNS): Retired government workers who have a public service pension have received a one-off summer bonus of $450. The extra payment was added to the August pension payments directly into retirees’ accounts to help with increased living expenses, especially high fuel costs. Premier Wayne Panton said Friday evening that pensioners are being particularly hard hit […]
Public service pension exceeds $1B
(CNS): The success of the Public Service Pension Plan was heralded by Deputy Governor Franz Manderson recently after the plan became the first in the Cayman Islands to exceed $1 billion. According to the 2019 annual report for the plan, which provides pensions for government workers, the fund grew by more than $228 million and […]
Public pension liability ‘not cause for alarm’
(CNS): Finance and Economics Minister Roy McTaggart has said that the historic liability in the public pension funds will be met, so the current $197.2 million deficiency is “not a cause for alarm”. As the minister presented the latest actuarial reports for these plans to the Legislative Assembly earlier this month, he said the liability […]
