Who is eligible to pay pensions?

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Employees will be eligible to join the Silver Thatch Pension Plan on the day they are hired, provided they meet the following criteria:

1. Are at least 18 years old.
2. Are under the age of 65.
3. Have Caymanian or permanent residency status.

Additionally, it's important to note that employees who meet the age requirements but do not have Caymanian or permanent residency status, primarily expatriates, will become eligible to join the Silver Thatch Pension Plan once they have worked continuously in the Cayman Islands for a minimum of nine months.

By law, once an employee meets the eligibility requirements, they must enroll in the Plan within 21 days of becoming eligible. This ensures compliance with the enrollment timeline as mandated by regulations.