Nicolas Cage and Ron Perlman are set to star in 'The Retirement Plan'.

The duo have been tapped to appear in the action movie from director Tim J. Brown, with filming getting underway later this week in the Cayman Islands.

Ashley Greene, Ernie Hudson, Jackie Earle Haley, Joel David Moore, Grace Byers, Rick Fox and Lynn Whitfield also feature in the ensemble.

The story centres on Ashley (Greene) and her daughter Sarah (Thalia Campbell) as they get caught up in a criminal enterprise that puts their lives at risk.

She turns to the only person who can help, her estranged father Matt (Cage), currently enjoying retirement on the Cayman Islands. However, they are soon tracked down by crime boss Donnie (Haley) and lieutenant Bobo (Perlman).

As the trio become entangled in an increasingly dangerous web, Ashley learns that her father had a secret past that she didn't know anything about and that there is more to him than meets the eye.

William G. Santor is producing the project for Productivity Media along with Nicholas Tabarrok, the President of Darius Films as part of their multi-pictured deal with the Cayman Islands authorities. Jason Jallet and Doug Murray also serve as producers.

Santor said: "The global reach and legendary appeal of Nicolas, Ashley, Jackie, Joel, Grace, Ernie, Rick and Lynn as well as gifted newcomer Thalia, is spot-on for this exciting action movie.

"I am proud to say that we have managed to have a Ghost Rider, a Hellboy and a Rorschach in the same film together, with a Ghostbuster to keep the Ghost Rider in check! You can't get better than that!

"And we continue to receive incredible support from the Cayman Islands Government as we start production on our third film."