How do I complain about a pension plan?
I worked in Grand Cayman for 18 months, and contributed to the XXXX pension fund. I waited the requisite amount of time, and then submitted scans of my documents prior to mailing them to verify that they were the ones required. It has been over four months, and no one has responded to my request.
The money in the pension, while not a large amount, is not insignificant, and it was part of my reimbursement for working on the island. Is there anyone who oversees these matters who I can move my question forward to? It’s difficult when you’ve returned to your home country and can only reach out via phone calls and emails that aren’t answered.
Auntie’s answer: I agree that trying to deal with this while not in Cayman is far from ideal. And no one likes to think they are being ignored. The way forward is to go directly to the Department of Labour and Pensions, which can investigate these matters.
Anyone with a complaint about a pension provider should email the department at DLP@gov.ky. When writing in, include your full name, date of birth and the name of the pension plan, a DLP official said, adding, “We need this information so we can contact the correct pension plan in order to address and resolve the specific member’s issue.”
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Category: Ask Auntie, Pension Questions
I’ve been contributing to my pension fund for a few years now and have only seen losses.
by the time you retire you might be able to buy a pair of socks on your pension money.
The money in your pension is not “part of [your] reimbursement for working on the island”. It’s money that is being put away and invested (preferably with positive returns over the long-term) for you so that when you retire you can support yourself.
regardless of what pension money are, “t has been over four months, and no one has responded to my request.” THAT IS THE REAL reason for the question. Aren’t pension records available online?
Actually, no, it’s the employee’s money (required to be invested) matched by the employer. No one is supporting themselves on 18 months of earnings in their old age. It is part of the incentive package.