Public Service Pensions Board

Public Service Pensions Board

The Public Service Pensions Board was established under the Pensions (Amendment) Law, 1991, to administer retirement benefits for employees of the Cayman Islands Government and other statutory bodies. The Board began receiving contributions in 1990, with CEO Jewel Evans Lindsey at the helm since inception. It operates as a statutory authority under the Portfolio of the Civil Service, with governance provided by a Board that includes the Cayman Islands Financial Secretary and the Acting Deputy Governor. The Board deploys capital across a globally diversified portfolio with core allocations to global equity, global fixed income, and commercial real estate. It owns the Pavilion East Building at Cricket Square in George Town, a prime commercial asset within the Cayman Islands' financial district. The Board constructs its public-market exposures through a combination of external manager relationships and direct mandates, reflecting a posture that balances institutional best practice with the specific liquidity needs of a mature public pension plan in a dollarized, zero-tax jurisdiction. In addition to CEO Jewel Evans Lindsey, governance is anchored by Chairperson Sheree Ebanks — who concurrently serves as CEO of the Cayman Islands Institute of Professional Accountants — and Investment Committee Chair Simon Cawdery. The Board's membership in international professional networks such as the International Federation of Accountants and the Pensions Management Institute reflects a commitment to technical oversight. The PSPB has not publicly disclosed total assets under management, but its mandate as the consolidated vehicle for Cayman Islands public-sector retirement obligations, combined with the jurisdiction's status as a high-GDP-per-capita financial hub, supports an estimated asset base of $500 million to $2 billion. The Board's structural distinction lies in its dual identity as both a public-sector pension fiduciary and a significant institutional property owner within a jurisdiction better known for private wealth and offshore fund domiciliation than for domestic pension capital. This creates a unique dynamic: the PSPB allocates globally while serving as one of the largest direct institutional investors in its home real estate market, a position that shapes both its liquidity profile and its local economic footprint.