Pension holiday over for all workers

| 01/05/2012

broken-piggy-bank-large_0.jpg(CNS Business): Government has now confirmed that the pension holiday for non-Caymanian workers is over and employers must re-commence paying into pension schemes for all of their employees. Officials from the employment ministry said the suspension of pensions contributions ended on Wednesday 25 April which followed the end of the scheme for Caymanians last year. When government implemented the programme it was designed to assist both employees and employers during the economic down turn. The voluntary holiday was taken up by 2,864 workers over the life of the scheme the pension’s office revealed but next month employers will have to return to making payments. Read more on CNS Business

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