Schedule 1National Pensions Act (2024 Revision)
Form — Application for withdrawal under sections 52B, 52BA and 52C
FORM (sections 52B, 52BA and 52C) — APPLICATION FOR WITHDRAWAL OF DEPOSIT UNDER SECTION 52B OR REDUCTION PAYMENT ON A MORTGAGE AND, IF APPLICABLE, ARREARS IN STRATA FEES RELATED TO THE MORTGAGED PROPERTY OR RESIDENTIAL LAND LOAN UNDER SECTION 52BA OR TO PAY OFF AN EXISTING MORTGAGE AND, IF APPLICABLE, ARREARS IN STRATA FEES RELATED TO THE MORTGAGED PROPERTY UNDER SECTION 52C OF THE ACT
PART A - GENERAL INFORMATION
A1Full Name of Applicant: _____ Date of Birth: (DD/MON/YY) _____ Applicant’s Phone Number: _____ Email Address: _____ Mailing Address: _____
A2Name of Applicant’s Current Employer 1: _____ Employer’s Email Address: _____ Employer’s Phone Number: _____ Mailing Address – Employer 1: _____ Name of Applicant’s Current Employer 2: _____ Employer’s Email Address: _____ Employer’s Phone Number: _____ Mailing Address – Employer 2: _____
A3Current Contributions — [Table: Name of Pension Plan to which the Applicant is currently contributing | Name of Administrator of the Pension Plan to which the Applicant is currently contributing | Pension Plan Account Number | Amount of contributions currently being made (CI$)]
A4Withdrawal Requests — [Table: Name of Pension Plan to which the Applicant is requesting a withdrawal | Name of Administrator of the Pension Plan from which the Applicant is requesting a withdrawal | Pension Plan Account Number | Amount of withdrawal being requested (CI$) – Must not be more than $50,000 for a deposit or reduction payment or $100,000 to pay off mortgage and, if applicable, arrears in strata fees related to the mortgaged property]
A5Type of Withdrawal (select as appropriate):
Deposit to purchase an existing dwelling unit
Deposit to construct a new dwelling unit
Deposit to purchase residential land
Reduction payment on an existing mortgage and, if applicable, arrears in strata fees related to the mortgaged property
Reduction payment on a residential land loan
Pay off an existing mortgage and, if applicable, arrears in strata fees related to the mortgaged property
A6Total amount of withdrawal required: _____ (Must not be more than $50,000 for a deposit or reduction payment or $100,000 for paying off an existing mortgage and, if applicable, arrears in strata fees related to the mortgaged property)
A7Block and Parcel Number of the relevant property: _____
A8Will the Applicant be the sole owner of the property? Yes / No. If no: Name of the Additional Owner 1: _____ Is the Additional Owner 1 also withdrawing from their pension plan? Yes / No. Name of the Additional Owner 2: _____ Is the Additional Owner 2 also withdrawing from their pension plan? Yes / No.
A9This application is accompanied by the following documents: (Select as appropriate)
Evidence that the Applicant is Caymanian
Evidence that the Applicant has legal title to the dwelling unit (In the case of withdrawal for reduction payment or to pay off an existing mortgage on a dwelling unit and, if applicable, arrears in strata fees related to the mortgaged property, land register is required)
Letter from financial institution addressed to the Applicant
Letter from corporation addressed to the Applicant
In the case of a previous withdrawal by the Applicant, evidence of compliance with section 52B(10), 52BA(12), 52C(9) and 52D(1), if applicable
PART B - DECLARATION BY NON-CURRENT HOME OWNER - REQUIRED FOR ALL APPLICATIONS FOR DEPOSITS ONLY
(To be completed only by an Applicant who is a non-current home owner for a deposit to purchase an existing dwelling unit, construct a new dwelling unit or purchase residential land. If paying off existing mortgage disregard this Part and go to Part C.)
A10I, [_____] (print full name) hereby declare that I do not currently own a dwelling unit in the Cayman Islands. Signature of Applicant: _____ Date: _____
PART C - DECLARATION IN RELATION TO PRIMARY RESIDENCE - REQUIRED FOR ALL APPLICATIONS
(To be completed only by an Applicant to purchase, construct, receive a reduction payment or pay off (and, if applicable, make a reduction payment towards or pay off arrears in strata fees in respect of) a new dwelling unit or an existing dwelling unit.)
A11I, [_____] (print full name) hereby declare that the dwelling unit listed in this application serves as my primary residence in the Cayman Islands. Signature of Applicant: _____ Date: _____
PART D - GENERAL DECLARATION – REQUIRED FOR ALL APPLICATIONS
A12I [_____] (print full name) hereby declare that this application is accordingly made for the withdrawal of [*deposit / reduction payment / amount to pay off an existing mortgage and, if applicable, make a reduction payment towards or pay off arrears in strata fees related to the mortgaged property] as specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support of the application are true and correct.
I hereby confirm that any changes in the details of this application occurring before a decision is made regarding the granting or refusal of the withdrawal will be notified to the Administrator(s). Signature of Applicant: _____ Date: _____
PART E - WITNESS
A13I [_____] (print full name) hereby declare that the declaration[s] was/were signed in my presence and I am not an immediate family member of the Applicant. Print Full Name: _____ Mailing Address: _____ Email Address: _____ Phone Number: _____ WITNESS: _____ (Signature of witness to declaration[s]) Date: _____