In 1998, the Cayman Islands government enacted legislation that
requires all employers to provide their workers with pension
benefits. Under the National Pensions Law, a pension plan must
be registered and meet certain provisions.
Silver Thatch was established in 1997 to meet the requirements
of that new legislation. Today, the Silver Thatch Pension Plan
is one of the largest pension plans in the Cayman Islands. The
Plan is set up as a trust, which is domiciled in the Cayman Islands.
At the heart of Silver
Thatch is a defined contribution pension plan. Under this
programme, both you and your employer make contributions based
on how much you earn. These contributions are automatically
invested in one or two of three investment portfolios (conservative,
balanced and growth). The portfolio(s) in which
your contributions are invested will depend on your personal
profile (i.e., age, income range and marital status). The
money in your pension account is used at retirement to provide
you with an income.
Silver Thatch also offers a flexible and convenient arrangement
for additional voluntary contributions (AVCs). You control how
much you contribute (if anything) and you decide where to invest
your AVCs. You can choose from five professionally managed investment
portfolios.
The Silver Thatch Pension Plan has demonstrated great performance.
Discipline and focus have helped us produce a winning performance.
Our portfolio returned 14.46% for the financial year ended June
30, 2004. That's 0.79% above our benchmark!
We add value to a member's account through sound investment and effective
cost management. For the year ended June 30, 2007, our total
expenses were approximately 1.2% of average monthly net assets. In fact, our expenses have
declined every year since inception.
We're committed to making participation
a positive experience. We know you have enough on your plate already – so
we minimize the employer's administrative role and provide members
with direct access to the information they need.
Click
here to learn more
about our Plan and how we can assist you in reaching your retirement
goals.
