How much should I contribute each month?

We highly encourage you to gain a comprehensive understanding of how our pension plan operates.

Under the Cayman Islands Pensions Act, both you and your employer are required to make contributions. These contributions should sum up to 10% of your earnings, up to a maximum annual earnings limit of CI$87,000. Specifically, your employer's contribution must constitute at least 5% of your earnings.

Now, you might be curious about what we classify as 'earnings.' Earnings encompass a wide range of income sources, such as wages, salary, leave pay, fees, commissions, and any bonuses that exceed 20% of your basic wage or salary. Gratuity payments received from your employer are also considered as part of your earnings. However, it's important to note that earnings do not include severance payments, retirement or long-service recognition payments, or health insurance premiums.