Pension Advisory Group Formed
The Chief Secretary's Office which has responsibility for civil service matters, has established a working group to implement the temporary suspension of employees' pension payments.
This pension advisory group is chaired by Deputy Chief Secretary Franz Manderson. It comprises representatives from, the Portfolio of the Civil Service, the Cayman Islands Civil Service Association (CICSA), the Legal Department, the Public Service Pension Board and the Portfolio of Finance.
Before the end of this month, the group will advise Cabinet regarding the implications of suspended pension payments, as well as any legislation changes that will be required to implement the suspension measure.
Commenting on the remit of the working group Mr Manderson said that he wanted to make it clear that the proposals being developed do not include adjustments to the benefits of existing pensioners.
The temporary suspension of pension payments, which aims to reduce government's operating budget, was announced earlier this week by Leader of Government Business the Hon. McKeeva Bush, OBE, JP.
For further information contact: Lennon Christian