New Chamber App
The Chamber of Commerce Pension Plan, which began in 1992, has grown into the pension plan of choice for over 18,000 members across the Islands, as well as a top choice for employers, with over 800 choosing the Chamber’s plan over other multi-employer plans available on Island and over US$250 million in assets.
Bill Fleury is the plan’s newly appointed general manager and chief operations officer. He explains why the plan is such a popular choice:
“Our most recent audited returns (for the year ending 30 June, 2011) we had a projected 12.81 per cent return in the 2015 class and a 25.22 per cent return in the 2045 class, which was highly competitive. In addition, the plan is efficiently run to minimise expenses; its expense ratio is 1.57 percent, among the lowest in the Cayman Islands.”
Fleury says the plan is not limited to a single investment manager and also engages world-class service providers, such as Mercer, to advise the plan and PwC as auditors. Equity holdings are comprised of some of the world’s top companies, such as Apple, Oracle, Coca-Cola and Microsoft, with fixed income holdings of similar stature, including Wells Fargo and Berkshire Hathaway.
The plan is operated on a not-for-profit basis, overseen by a volunteer board of trustees, who are all experienced and respected business people from our community. Convenient for its members, the plan has its audited financials online and members can also view monthly statements online as well.
Fleury says he is excited to be in this new role and also enthusiastic about the prospects for the plan, saying it is well positioned to maintain its lead spot within Cayman’s private sector pension industry
About Chamber Pension Plan
The Chamber Pension Plan was established in 1992 as a not-for-profit business and has been dedicated to providing a secure financial future for all people living and working in the Cayman Islands. Past performance is not indicative of future results.