From RJR News

Jamaicans in Cayman are up in arms over plans to change the country’s pension law.

This has prompted Dr. Joseph Marzouca, Jamaica’s Honorary Consul in Cayman, to call for the government to delay the amendments for six months.

Dr. Marzouca said hundreds of Jamaicans and other expatriates in Cayman signed a petition voicing their displeasure with the amendments which will significantly change how foreign workers can access their retirement funds.

He estimated that the number of persons signing the petition would have eventually gone up into the thousands, but that was not the intention.

“This is just to get an idea if this is something significant. I think that’s fair to allow some communication or dialogue with Jamaicans,” he told Cayman27 News.

He added that he will meet with government officials in Cayman on Friday.

Under the new pension plan, expatriate workers, such as the thousands of Jamaicans living and working in Cayman, may apply for a pension refund by the end of this year. They would then have to leave Cayman and begin receiving the pension payments two years later.

Foreign workers who do not apply for a refund by the end of this year will only be able access their pension funds when they leave the Cayman Islands and enroll in another pension scheme in another country.

The Caymanian retirement age will also be increased from 60 to 65.

For more on this story go to: http://rjrnewsonline.com/local/pending-changes-to-caymans-pension-law-alarm-jamaican-living-there

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