Chamber Pension Plan Annual General Meeting
The Chamber Pension Plan will hold its Annual General Meeting on Wednesday, 16 November 2011 at the Chamber of Commerce Board Room, Governors Square Unit 4-107 at 7:00 p.m. All Plan members are invited to attend.
National Pensions (Amendment) Law 2011 - Part VIIA – Withdrawal of pension funds to purchase or construct dwelling unit, purchase residential land or pay off an existing mortgage in the Islands.
Part VIIA provides for the withdrawal of pension funds in an amount not exceeding thirty-five thousand dollars by a person who is a Caymanian and does not currently own a dwelling unit as a deposit to purchase an existing dwelling unit or construct a new dwelling unit or purchase residential land in the Islands. Frequently Asked Questions
New Equity Manager Now On Board
As of November 1, 2008 McKinley Capital was added as an additional Global Equities Investment Manager for the Chamber Pension Plan. McKinley will manage approximately 30% of the current Global Equities Portfolio while AllianceBernstein will continue managing the remaining 70%. McKinley's Global Growth Style of investing will add another layer of diversification to the plan. The Trustees are constantly monitoring the way the portfolio is invested to achieve the maximum returns with the least amount of risk. McKinley's addition to the plan helps to mirror this philosophy.
Butterfield Bank remains as the Bond/Fixed Income Investment Manager. Under Butterfield Bank's management, the Plan's Fixed Income performance has consistently outperformed the benchmark since the Plan's inception. Butterfield Bank will also continue to serve as the Administrator to the Plan.
Life Cycle Funds
Life Cycle Funds are a new product aimed at tailoring plan members investment mix to better suit their risk tolerance and time horizon to retirement. Education seminars on the Life Cycle Funds for employers and employees will be announced in the coming months. If you are interested in learning more about the Life Cycle Funds now, please call Robert directly at 949-8090. Click here to download the LifeCycle Fund Brochure.
New Chairman
Paul Tibbetts recently took over as Chairman of the plan, as David Bodden finished his 1 year term.