Welcome to the Chamber Pension Plan.
As an employer, joining our Plan is straightforward. Please see below How To Join Our Plan for more information. As an employer administering the Plan for your employees, it is your responsibility to ensure that all new employees receive an application form as soon as is practical. Please see below the Enrolling New Members section for more information.
At the Chamber Pension Plan, we want to ensure that all new employers and members are familiar and comfortable with the operation of the fund, right from the beginning. If you would like more information on the Chamber Pension Plan, feel free to contact the Administrator to arrange a meeting.
It is our aim to establish and continue an excellent working relationship with all our new employers and members participating in the Plan.
As a not-for-profit entity, the Chamber Pension Plan does not charge front-end fees or account-level charges.
Employers Pension 101
How to Join Our Plan?
- As an employer, you will need to complete the New Employer Application Form and the New Employer Checklist.
You must also include a copy of your VALID trade and business license in order for your employees to join the Plan (please contact the administrative team to ensure all new employer requirements are met).
Enrolling New Members
Which employers are required to provide a pension plan?
Every employer must provide a pension plan for every person working for that employer in the Cayman Islands. An employer who fails without reasonable cause to provide a pension plan or to make contributions to a pension plan for an employee is guilty of an offence and liable on summary conviction.
Which employees are required to join a pension plan?
they report to work to an office of their employer located in the Islands; or
they are normally resident in the Islands and paid from an office which is situated in the Islands.
Every self-employed person either shall be a member of a registered and approved pension plan or shall contribute to a registered individual retirement account with an approved provider.
Full and part-time employees are required to be covered and so are casual employees, probationary staff and those employees on short-term contracts.
Where an employee is employed by more than one employer, each employer is liable to pay contributions to a pension plan for that employee.
How to Read Your Statements?
Alternatively, you can review your statement which you will receive by mail or you may also request a statement at any time from the administrator. The statement outlines the date on which your contributions were made, for which period the contribution relates and the total contributions for the periods shown.
Through your online access, you also have the ability to create your employee listing. We recommend you do this on a regular basis to obtain new member numbers and to ensure your employee list is up to date with all additions and terminations.