The Department of Labour and Pensions (DLP) is a new Department that was established to oversee the employer compliance aspects of the work previously undertaken by both the Department of Employment Relations and the National Pensions Office. The new unit is intended to provide a more effective one-stop shop for all labour services and enable a system of proactive workplace inspections to be instituted. This will promote compliance with both Labour and Pensions legislation while at the same time causing good employers minimum inconvenience.
The restructure of Labour and Pensions also seeks to divide the pension regulatory responsibilities between the Cayman Islands Monetary Authority (CIMA) and the DLP. It seeks to align the complex forensic and investigative accounting of pension plans with operations at CIMA, which retains such capacities in their role of regulating banks, insurance firms and related financial institutions. This will result in more expert regulation of pension plans and pension plan administrators.
The DLP has a Director of Labour and Pensions who is assisted by a Deputy Director (Labour) and a Deputy Director (Pensions). The Deputy Director (Labour) oversees the Labour Investigations Unit and the Deputy Director (Pensions) oversees the Pensions Investigations Unit. Both Deputies are responsible for recommending prosecutions for non-compliance with the Law and for assisting the Director of Public Prosecutions with prosecutions in criminal court.