How much should I contribute each month?

Under the Cayman Islands Pensions Act, both you and your employer must contribute to your pension plan. Here's what you need to know:

  1. Contribution Amount:

    • The total contribution should be 10% of your earnings.
    • This is capped at a maximum annual earnings limit of CI$87,000.
    • Your employer must contribute at least 5% of your earnings.
  2. What Counts as Earnings:

    • Included: Wages, salary, leave pay, fees, commissions, and any bonuses that are more than 20% of your basic wage or salary. Gratuity payments from your employer are also included.
    • Excluded: Severance payments, retirement or long-service recognition payments, and health insurance premiums.
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