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Topic: pension withdrawals

‘No more withdrawals’: premier sticks to pension position

Premier Alden McLaughlin has underscored that government will not be allowing further pension withdrawals.

Pension holiday extended

Private pension account holders in the Cayman Islands have withdrawn $443.5 million in retirement savings this year to deal with the economic fallout of the coronavirus pandemic.

Gov’t shoots down motions on pensions and vacations

Government members, on Thursday, voted down Opposition motions aimed at reviewing the impact Cayman's pension changes and increasing vacation leave for employees.

Pension holiday extended until the end of the year

Employers and employees will not be required to contribute to pension plans through the end of 2020 after Cabinet approved an extension of the pension holiday.
Pension withdrawals

Fidelity Pension Plan confirms payment of withdrawal applications

Brett Hill, president and country head of the RF Group’s Cayman-based pension plan, confirmed that all applications from participants who have successfully applied for withdrawals from the Fidelity Pension Plan since 1 May 2020 had been paid.

Hearing reveals Cayman’s ‘broken’ pension system

A three-day Public Accounts Committee hearing concerning private pension plans in the Cayman Islands last week showed how the current system, subject to constant...

Regulator to investigate late pension withdrawal payments

The Department of Labour and Pensions will review whether pension plan administrators are making emergency pension withdrawal payments within the 45-day timeframe mandated by April’s changes to the National Pensions Law.

Bermuda copying Cayman’s pension cash-out

Bermuda is following a move by the Cayman Islands that allows residents to withdraw a portion of their pension savings to help them cope with the economic fallout from the COVID-19 pandemic.

BritCay asks for patience with pension withdrawals

British Caymanian Insurance Company Limited has asked its customers for patience as it processes thousands of pension-withdrawal applications triggered by the COVID-19 pandemic.
Deputy Director of Pensions Amy Wolliston

Patience urged on pension withdrawals

Deputy Director of Pensions Amy Wolliston has called for patience as thousands of employees and employers seek to make withdrawals from private pension fund providers.

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