Who is eligible to pay pensions?

Employees can join the Verdant Isle Pension Plan on their first day of work if they meet these criteria:

  1. Age: Between 18 and 65 years old.
  2. Residency: Must have Caymanian or permanent residency status

Eligibility for the Verdant Islen Pension Plan 
Employees who meet the age requirements but do not have Caymanian or permanent residency status (mainly expatriates) can join the Chamber Pension Plan after working continuously in the Cayman Islands for at least nine months.

Enrollment Requirements
By law, eligible employees must enroll in the pension plan within 21 days of meeting the eligibility criteria.

Exemptions
The following employees are exempt from paying pensions:

  • Domestic helpers
  • Gardeners (hired in private households)
  • Caymanian students enrolled full-time and under 23 years old. 
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