Pensions Board responds to OCC
Posted Tue, Feb 9th 2010, 10:43(Grand Cayman - CITN) -
The National Pensions Board is welcoming an investigation of the pensions office by the Office of the Complaints Commission (OCC).
The Complaints Commissioners Office has launched an investigation into how the pension’s office handles its investigations.
It's been discovered that many companies have not been complying with the National Pensions Law and the pensions office is responsible for investigating, charging and ensuring convictions for non-compliance.
The pensions board says the investigation should draw attention to a number of deficiencies highlighted by the board to government over the last 6-years. It further says the magnitude of the problem is astounding and amounts to millions of dollars being lost by individuals in the Cayman Islands.
Related Story:
National Pensions Office investigated by OCC
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