Chamber and Silver Thatch against pension holiday
Posted Wed, Mar 10th 2010, 19:17(Grand Cayman - CITN) -
The new pension holiday might not be the big break for struggling families that government is hoping for. Two of the island's biggest funds are urging their members not to take up the offer.
The Chamber of Commerce has joined Silver Thatch in telling trustees that the long-term negative effects of a pension break are much greater than any short-term benefits.
The Chamber of Commerce says private sector employees must be warned that taking the holiday means giving up their employer's 5% retirement contribution.
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