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DLP Announces Increase to Annual RSA Payments Effective 1 July 2026

The Department of Labour & Pensions has issued updated guidance confirming an increase to the maximum annual withdrawal amount for Retirement Savings Arrangement (RSA) accounts, effective 1 July 2026. Under the updated guidance, the maximum RSA pay-out will increase by 5.2%, moving from CI$15,400 to CI$16,200 per year. This is equivalent to CI$1,350 per month. An RSA is one of the ways eligible retired members may access their pension benefit. The maximum amount a member may

Jun 262 min read

How can I withdraw money from my pension?

Your pension is for your retirement, but there may be times when you need to partially or fully withdraw it. Perhaps you are leaving...

Jun 17, 20211 min read

Is my employer paying into my pension?

Under the National Pensions Act, every employer in the Cayman Islands shall provide a pension plan for every person employed by him/her....

Jun 2, 20212 min read

Money left at the end of the month? Why not invest in your pension fund?

It can be difficult to save money in an economic environment like the Cayman Islands. The cost of living and unexpected expenses can...

May 17, 20212 min read

Your pension belongs to you, not your employer

A pension is a method of saving for your retirement. It is your money that is overseen by a Pension Plan Provider that helps your money...

May 6, 20212 min read

Tips on saving money

It can be difficult to save money whether it be for holidays, a new car or Christmas. The Chamber Pension Plan understands that not all...

Apr 22, 20212 min read

How to teach your children good personal finance habits

Don’t wait for your children to become teenagers before you start teaching them about good personal finance habits; these life lessons...

Apr 10, 20212 min read

Teaching your team financial literacy - Part 1

When issues arise with employees, there is often more to the story than meets the eye. Poor performance, absenteeism, low morale and low...

Apr 9, 20214 min read

How to manage your mortgage

A mortgage to purchase a home is probably one of the biggest loans that you will ever take out in your lifetime. Taking out a loan with a...

Feb 22, 20212 min read

Why AVCs are a good idea

Every employee in the Cayman Islands must contribute at least five per cent of their monthly earnings into an approved pension plan, with...

Feb 13, 20212 min read

Is a pension really worth it?

Pensions have many advantages as an investment savings plan for your retirement years. By using a variety of investment methods, pensions...

Feb 9, 20213 min read

The Historical Evolution of Pensions in the Cayman Islands

Most, if not all, developed countries throughout the world have some form of pension arrangement for their citizens, meaning that...

Dec 28, 20204 min read

Tips on saving for a house or a car

There are few items more costly in life than buying a car or a home. Prudent saving before you make a large down-payment of cash is not...

Oct 19, 20202 min read

Review and understand your insurance coverage

There are various forms of insurance you can obtain to help cover different aspects of your life, such as personal life and health....

Oct 9, 20202 min read

Why the 2020s will be a good time to start investing

The dawn of a new decade heralds new and exciting opportunities for investors. In this blog, we predict 4 significant changes to the...

Jan 3, 20203 min read