Government to look at Pension Schemes

Mr. Golding made the comment on his monthly call-in radio programme ‘Jamaica House Live’, which was aired last night (Wed. Sept. 3). The Prime Minister was speaking against the background of concerns raised by callers to the programme who said that there were billions of dollars in pension funds surplus. It was suggested that these funds be wound up and that the government should collect the taxes and give the pensioners the remainder as pensioners were not now benefiting from these funds.

Mr. Golding said that Government was in the process of crafting legislation to ensure that that persons who move from one employment to another would be able to take their pension contributions with them so that they will be eligible for their full benefits on retirement.

Referring specifically to the Air Jamaica Pension Fund, Mr. Golding said that while there is cause for concern, great care will have to be taken when making such decisions as due process will have to be followed in order that transparency is observed.