Tourism Minister urges employers to fully participate in pension scheme
Minister of Tourism Edmund Bartlett is urging employers in the sector to participate fully in the Tourism Workers’ Pension Scheme, which is scheduled to become operational early next year.
The contributory scheme will embrace some 350,000 full-time, part-time, self-employed and contract workers across the sector, including red cap porters, front desk managers, craft traders, housekeepers and raftsmen.
Speaking yesterday at the third graduation ceremony of the Jamaica Centre of Tourism Innovation at the Montego Bay Convention Centre, Bartlett said, “The Tourism Workers’ pension scheme represents the final prong in our commitment to human capital development. Our workers deserve financial security at the end of their tenure, which this pension scheme will provide and so I urge all employers to get on board and support this landmark legislation.”
The pension scheme is also designed to cover all workers ages 18-59 years in the tourism sector.
“We are well on our way to ensuring the scheme becomes operational. The Governor General has given his assent and I have just recently established the Board of Trustees which met earlier this week,” added Bartlett.
The Board of Trustees will play a critical role in the management of the scheme starting with the review of the regulations required to make it operational.
The board’s mandate will also include management of all moneys paid, or assets transferred into the Scheme and the appointment of a fund manager.