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Public pensions in “good health”

The $226 million projected hole in government’s public pensions does not mean civil servants will be penniless when they retire – that’s according to the Public Service Pensions Board who says it submitted a plan to government that maps the way forward to deal with the liability before it’s time to pay up.

In a statement, the board said the current plans are in good financial health and, “This proposal, once approved, is expected to service the deficit not only for the main public service pensions plan, but also for the parliamentary pensions plan, based on a 20-year payment schedule.”

Government pays 12 per cent every month for public workers pensions but also makes additional payments. The board noted the current system is under regular review.

About the author

Tammi Sulliman

Tammi Sulliman

Tammi Sulliman is a Caribbean journalist with more than 15 years in the industry. Her roots steeped in print journalism, she made the transition to television in 2007. A reporter and talk show host in the Cayman Islands, she has focused on political and social issues affecting the community. She took the helm of the news product at Hurley's Media Ltd. as News Director in November, 2015. Ms Sulliman was raised in Trinidad & Tobago and graduated with honours in French Linguistics and Professional Writing from the University of Toronto in Ontario, Canada. She is a proud mother and privileged to call the Cayman Islands home.

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