COVID19 Update

COVID19 Update

On Thursday, March 12, the Cayman Islands Government confirmed the first case of COVID-19 (Coronavirus) in the Cayman Islands, which followed the World Health Organization declaring the Coronavirus a pandemic.
 
Current Investment Market
With markets throughout the world experiencing some of the most volatile situations in decades, you may be worried about the health of your pension investments.  The PSPB Fund has suffered some losses in the past weeks primarily due to the Coronavirus pandemic, but these types of setbacks occur from time to time and we plan for these scenarios.
The PSPB has diverse fund portfolios that are designed to protect investments for when the market takes a downturn. The PSPB Fund is well managed by investment professionals under the close watch of the PSPB Investment Committee and is sufficiently diversified to minimize significant losses and with time, markets do recover and the PSPB Fund will experience growth again.
The PSPB is well positioned to bounce back from current market fluctuations; your retirement funds remain our priority.  We have a robust due diligence programme in place and at this time intend to stay the course. The PSPB is a long-term investor and we will recover from this current downturn in the market. 
 
Member Services
The PSPB Board, Management and staff has been working diligently to prepare and implement proactive measures to protect our stakeholders and ensure that we can continue to provide critical services to our plan members. 
The PSPB recognizes that we provide a critical service to the Cayman Islands.  Please note that most business with the PSPB can be completed via email or over the phone.  The PSPB can be reached via email at pspb@pspb.ky or at 945-8175.  
Be safe and know that during this time, you and your families remain in the thoughts and prayers of the PSPB Board, Management and staff. Be assured that we are putting measures in place to ensure our services continue uninterrupted.