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Premier sets sight on pensions law

Premier Alden McLaughlin criticizes the pensions law saying he’s not satisfied with the amount of money pensioners are able to withdraw.

The premier said his administration has already started to tackle the pension scheme introduced two decades ago by introducing last year’s amendments to the pensions law.

He said more changes are needed in order to provide senior citizens with financial flexibility.

“The scheme that we have is inadequate really in terms of what it pays so these are issues that we have started to address with our amendments to the pensions law in Cayman but those will really help the next generation.

 

 

 

 

 

 

 

i say the next generation,” The Premier explained.

As of January most pensioners could take out $12,480 dollars per year.

 

 

 

 

About the author

Mario Grey

Mario Grey

Mario Grey's passion for journalism has been long intertwined with his love of people and culture from his days as a youth growing up in the Cayman Islands. He captained his debate team whilst at John Gray High School and graduated as Head Prefect. He also worked at KVHU FM in Searcy, Arkansas, United States and worked and interned for Radio Cayman News before graduating from the University Of Arkansas at Little Rock in May 2015.

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