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Grenada Government wants fair play in Pension Reform



Wednesday, July 25, 2018 5:05 PM- George's, Grenada
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ST. GEORGE’S, GRENADA, JULY 25TH, GIS: - Minister for Trade, Industry, Co-operatives and Caricom Affairs Hon. Oliver Joseph says while one batch of workers will be paid pension and gratuity retroactively, negotiations are ongoing for those who joined the service after February 22nd 1985, to agree on a formula for payment.


In the first instance, fifty six workers will receive gratuity and pension, costing the government 7.2 million dollars.


These workers joined the public service between April 4th 1983 and February 22nd 1985.


Minister Joseph says the initial arrangement was for NIS to be the only institution responsible for pension payment.


“The NIS was introduced to pay pensions,  after the disqualification act was introduced, but with the introduction of NIS, workers were “grandfathered in” and that is why some workers were entitled to two pensions, one from NIS and one from Government,” the Minister explained.
Minister Joseph says while government’s legal obligation is to workers up to 1985, it wants to ensure fairness for all.


He indicate that all public servants are entitled to pensions but in moving forward there must be a clear understanding of the issue given the limited state owned resources.


“Workers have made sacrifices, we appreciate the cooperation of the trade union on their understanding in this matter,” said Minister Joseph.


“But we must look at the picture in its entirety, so that we make a rational decision and locate resources optimally so that everyone benefit”.



 

 

 

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