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(1) These Regulations may be cited as the Public Service Pensions (Contribution Rates) Regulations, 2019. (2) These Regulations shall be deemed to have come into force on the 1st day of January, 2017.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Changes to contribution rates under the defined benefits part of the Plan 2. (1) Approval is given for changes recommended by the Board in respect of the rate of contribution payable to the Fund by an employer, under the defined benefits part of the Plan; and, accordingly, the rate of contribution, by an employer, under the defined benefits part of the Plan, is established as specified in paragraphs (2) and (3) and will remain in force until superseded by the next funding actuarial valuation. (2) The rate of contribution by the Government, under the defined benefits part of the Plan, is as follows \u2014 (a) an employer contribution rate of 6% of the pensionable earnings of the relevant participant; Regulation 2 SL 42 of 2019 (b) an additional normal cost contribution rate of 5.5% of the pensionable earnings of the relevant participant; and (c) a $17.59 million annual contribution paid in twelve equal monthly instalments to amortize the defined benefit funding deficiency (past service liability). (3) The rates of contribution by the following employers, under the defined benefits part of the Plan, are the following respective rates of the pensionable earnings of the relevant participant \u2014 Employer Employer Contribution Rate Additional Normal Cost Contribution Rate Amortization Cost as a Fixed Annual Amount (Past Service Liability) Cayman Islands Airports Authority 6% 2.3% $256,000 Cayman Islands Monetary Authority 6% 2.6% nil Cayman Islands National Insurance Company (CINICO) 6% 0.7% nil Cayman Turtle Conservation and Education Centre Ltd. 6% 4.8% nil Civil Aviation Authority 6% 0% nil Health Services Authority 6% 2.5% $36,000 Maritime Authority of the Cayman Islands 6% 2.9% nil National Roads Authority 6% 1.5% nil Public Service Pensions Board 6% 3.1% nil University College of the Cayman Islands n\/a n\/a $96,000 Utility Regulation and Competition Office 6% 0% nil Regulation 3 SL 42 of 2019 Water Authority 6% 5.1% $69,000\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Changes to contribution rates under the defined contributions part of the Plan 3. Approval is given for changes recommended by the Board in respect of the rate of contribution payable to the Fund by an employer, under the defined contributions part of the Plan; and, accordingly, the rate of contribution by an employer, under the defined contributions part of the Plan, is established as follows \u2014 (a) an employer contribution rate of 6%; and (b) an additional normal cost contribution rate of 0.4%, of the pensionable earnings of the relevant participant; and the rate of contribution will remain in force until superseded by the next funding actuarial valuation. 4. Contribution to Fund 4. Contributions set out in regulations 2 and 3 shall be paid to the Administrator on a monthly basis for payment into the Fund and shall be sent to the Administrator no later than the 15th day of the month immediately following the date when contributions are due. Made in Cabinet the 25th day of October, 2019. 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and, accordingly, the rate of contribution, by an employer,\nunder the defined benefits part of the Plan, is established as specified in\nparagraphs (2) and (3) and will remain in force until superseded by the next\nfunding actuarial valuation.\n(2) The rate of contribution by the Government, under the defined benefits part of\nthe Plan, is as follows \u2014\n(a)\nan employer contribution rate of 6% of the pensionable earnings of the\nrelevant participant;\n\nRegulation 2\nPublic Service Pensions (Contribution Rates) Regulations, 2019\n\nPage 6\nSL 42 of 2019\nc\n\n(b) an additional normal cost contribution rate of 5.5% of the pensionable\nearnings of the relevant participant; and\n(c)\na $17.59 million annual contribution paid in twelve equal monthly\ninstalments to amortize the defined benefit funding deficiency (past\nservice liability).\n(3) The rates of contribution by the following employers, under the defined benefits\npart of the Plan, are the following respective rates of the pensionable earnings\nof the relevant participant \u2014\nEmployer\nEmployer\nContribution\nRate\nAdditional\nNormal Cost\nContribution\nRate\nAmortization Cost\nas a Fixed Annual\nAmount (Past\nService Liability)\nCayman\nIslands\nAirports Authority\n6%\n2.3%\n$256,000\nCayman\nIslands\nMonetary\nAuthority\n6%\n2.6%\nnil\nCayman\nIslands\nNational\nInsurance\nCompany\n(CINICO)\n6%\n0.7%\nnil\nCayman\nTurtle\nConservation and\nEducation Centre\nLtd.\n\n6%\n\n4.8%\n\nnil\nCivil Aviation\nAuthority\n\n6%\n\n0%\n\nnil\nHealth\nServices\nAuthority\n6%\n2.5%\n$36,000\nMaritime Authority\nof the Cayman\nIslands\n6%\n2.9%\nnil\nNational\nRoads\nAuthority\n6%\n1.5%\nnil\nPublic\nService\nPensions Board\n6%\n3.1%\nnil\nUniversity College\nof the Cayman\nIslands\nn\/a\nn\/a\n$96,000\nUtility Regulation\nand Competition\nOffice\n6%\n0%\nnil\n\nPublic Service Pensions (Contribution Rates) Regulations, 2019\nRegulation 3\n\nc\nSL 42 of 2019\nPage 7\n\nWater Authority\n6%\n5.1%\n$69,000\n3.\nChanges to contribution rates under the defined contributions part of\nthe Plan\n3.\nApproval is given for changes recommended by the Board in respect of the rate of\ncontribution payable to the Fund by an employer, under the defined contributions part\nof the Plan; and, accordingly, the rate of contribution by an employer, under the\ndefined contributions part of the Plan, is established as follows \u2014\n(a)\nan employer contribution rate of 6%; and\n(b) an additional normal cost contribution rate of 0.4%,\nof the pensionable earnings of the relevant participant; and the rate of contribution\nwill remain in force until superseded by the next funding actuarial valuation.\n4.\nContribution to Fund\n4.\nContributions set out in regulations 2 and 3 shall be paid to the Administrator on a\nmonthly basis for payment into the Fund and shall be sent to the Administrator no\nlater than the 15th day of the month immediately following the date when\ncontributions are due.\n\nMade in Cabinet the 25th day of October, 2019.\n\nDavina Wilson\nActing Clerk of the Cabinet","akn_extracted_at":"2026-06-22 15:39:58.141569+00","cms_id":"2019-0042","law_type":"subordinate","year":"2019","number":"42","title":"Public Service Pensions (Contribution Rates) Regulations, 2019","status":"revoked"},"provenance":{"files":[{"file_id":"6205","expr_id":"1347","kind":"akn_xml","filename":"2019-0042_SL 42 of 2019.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2019\/2019-0042\/2019-0042_SL 42 of 2019.akn.xml","content_md5":"f05db36fcab406638532bac5a16e9e8e","byte_size":"6994","http_last_modified":null,"fetched_at":"2026-06-22 15:39:58.195504+00"},{"file_id":"2693","expr_id":"1347","kind":"pristine_pdf","filename":"2019-0042_SL 42 of 2019.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2019\/2019-0042\/2019-0042_SL 42 of 2019.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/SUBORDINATE\/2019\/2019-0042\/2019-0042_SL 42 of 2019.pdf","content_md5":"3005ca0eece94ba8b4b07ea6f9aa3649","byte_size":"567575","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.71351+00"},{"file_id":"2694","expr_id":"1347","kind":"working_pdf","filename":"2019-0042_SL 42 of 2019.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2019\/2019-0042\/2019-0042_SL 42 of 2019.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2019\/2019-0042\/2019-0042_SL 42 of 2019.pdf","content_md5":"3005ca0eece94ba8b4b07ea6f9aa3649","byte_size":"567575","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.71351+00"}],"paragraph_count":15,"latest_history":null},"quality":{"expr_id":"1347","doc_id":"1347","quality_state":"needs_review","quality_score":"72","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata}","finding_severity_counts":"{\"low\": 1, \"medium\": 2}","finding_summary":"repeated line furniture detected: cayman islands x3; 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