If you stop working in the Cayman Islands and leave the islands for at least two years, you can transfer the cash value of your Silver Thatch Pension Plan to another approved pension plan.
Kindly note, the transfer has to meet the following criteria:-
- The product must be a registered plan.
- Your new plan must provide absolute creditor protection
- Your new plan must not allow borrowing from or assignment of the benefit
- Your new plan must not allow the individual to collapse the account any sooner than they would otherwise be entitled if the benefit were to remain in Cayman.
The International Transfer Request form must be accompanied by a copy of your passport and brochure/information on the accepting plan and should be emailed to firstname.lastname@example.org.
Finally, please note all international transfers are subject to the Department of Labour and Pensions' approval and can take between 60 to 90 days to process.