);

RSSPension Questions

Bank charges cutting into pension transfers

Bank charges cutting into pension transfers

| 20/11/2018 | 7 Comments
I recently applied for my retirement pension and wanted the amount paid monthly into my bank account. However, I was mystified to learn that my pension provider does not do domestic bank transfers for pensions. If you want your pension paid into your bank account, they only offer international wire [...]

Continue Reading

Can mother access her deceased son’s pension?

Can mother access her deceased son’s pension?

| 17/10/2018 | 0 Comments
The mother of a Jamaican man working in Cayman who died last year wants to know how does she go about getting his pension? Is she entitled to his pension? He died in the Cayman Islands but his body was brought back to Jamaica. What documentation would she need to provide? His mother is still in [&h [...]

Continue Reading

Paying pension for a small business

Paying pension for a small business

| 30/08/2017 | 0 Comments
I have a question on small business pension requirement. If you are working but not receiving a salary as you are putting everything into making the company a success, what are your pension responsibilities and how do you determine the amounts? Auntie’s answer: To clarify this question, I confirme [...]

Continue Reading

Allocating pension benefits after death

Allocating pension benefits after death

| 15/08/2017 | 9 Comments
If I die before I receive my pension what happens with that money? Auntie’s answer: Your question actually lends itself to several scenarios, all of which were explained by an official with the Department of Labour and Pensions (DLP). If you are married, then under the law your spouse automaticall [...]

Continue Reading

Pension payouts under the new law

Pension payouts under the new law

| 03/07/2017 | 7 Comments
I’m writing to you to ask about the new pension law in regards to people getting their money when they leave the island. Up to this point, when people left the island, if they had $5K or less they were able to get their money in six months, and for over $5K the wait was two […] [...]

Continue Reading

SIGN UP FOR THE CNS NEWS LETTER, SENT EVERY WEEKDAY STRAIGHT TO  YOUR INBOX