Government has set aside an initial sum of $7.2 million to compensate 56 eligible pensioners as part of the Pension Restoration Initiative. Payments could be made as early as the end of this month.
This development is the result of months of intense negotiations with unions.
Both parties recently reached a partial agreement, where government agreed to the payment of pension including gratuity, as well as retroactive payments between 4 April 1983 and the 21 February 1985.
Senator Norland Cox, Minister for Youth, Sports, Culture and the Arts, speaking with members of the media during government’s weekly post cabinet briefing said only pensionable positions are eligible to receive payments.
“So what is going to happen persons who were employed between the period 1983 to 1985 are going to receive their pensions, who are eligible for pensions. Who hold pensionable posts; because not all positions in the Public Service are pensionable positions. And so this is only for positions that are pensionable. So persons who are eligible are going to receive pensions. Currently we have 56 persons who are eligible.”
He added, “The Ministry of Finance and the Minister for Finance is working diligently to see if we can commence those payments and make those payments; gratuity payments as well, sometime by the end of this month or early August.”
Senator Cox says for those who came in the service after 1985, they have not yet come to any conclusion on how their matter will be treated, but discussions are ongoing.
Meanwhile, government will also be making a substantial payout in the area of public assistance, with the monthly contribution per household being increased from $200 to $300, an increase of $100.
Like the payment for pension, it is expected that this will also be done from the end of this month.