Pension Plan Member Services

Employees between ages 18 and 65 are required by law to be enrolled in a pension plan. There are 3 exceptions to this requirement: Non-Caymanians who have been working in the Cayman Islands for less than nine months Caymanians who are full-time students under the age of 23 Non-Caymanians employed in a private home as a household domestic or gardener

This is the amount per year which employees and employers are required by law to pay pension contributions. Anyone earning more than CI$87,000 is not required to make pension contributions on the amount above CI$87,000. Payments made in excess are deemed additional voluntary contributions. Total earnings include salary, wages, leave pay, fees, commission, or gratuity, as well as bonus payments that are more than 20% of your basic pay. Earnings do not include severance payments, retirement long service recognition payments, and health insurance premiums that are paid by the employer.

For members born after December 31, 1969: Your normal age of pensions entitlement is the first of the month on or after your 65th birthday. You can begin to receive these benefits whether or not you have ceased to be employed. You could also start receiving your benefits as early as age 55 but only if you have stopped working. For members born before 31st December 1969: Your normal age of pension entitlement is age 60. You could therefore start receiving benefits at age 60 whether or not you have ceased to be employed. If you have stopped working and are over the age of 50 you can begin to receive benefits now. However, if you return to work, you and your employer must resume making mandatory contributions until the age of 65.

If you are using the pension funds to buy or build a home, you must not already own a dwelling unit in the Cayman Islands. If buying land, you must not own any other land in the Cayman Islands. If you are using the funds to pay off an existing mortgage on a home, the amount must be enough to pay off the loan in full

You can change your beneficiaries or investment selections online or by speaking to a CG specialist. Login and click on the desired tab, My Investment Options or My Personal Information, to make the changes. A married member can only add their spouse and children as a beneficiary.  Under Cayman Law if a member is married with no children the member can only state their spouse as a 100% beneficiary. If a member is married with children the member can only state their spouse as a 50% beneficiary and the other 50% is split equally across the number of children who must under 18 years of age.

Yes, You can make Additional Voluntary Contributions to your account via payroll deductions.

Once you have enrolled and your first contribution has been received, you will receive your online account set up instructions. After setting up your account, you can view your information or make changes online.

You can view our various Fund Fact Sheets, as well as fund performance information on this website.