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Parliament to wrap up pension reforms bill debate today

Published:Tuesday | November 12, 2013 | 12:52 PM

Jovan Johnson, Gleaner Writer



The House of Representatives is expected to conclude a debate today on a bill to introduce pension reforms in the public sector.




Public sector pension reform was one of the major prior actions required under Jamaica’s agreement with the International Monetary Fund (IMF).



One of the major reforms involves public sector workers contributing to their pensions.



However, the deadline for the implementation of that reform measure has been pushed back to April 2016.



Several groups, in particular the police, have expressed concerns about certain aspects of the pension reform.



Former Opposition Spokesperson on Finance Audley Shaw has said the delay could move the pension bill from the current $25 billion to $39 billion in 2016.



The bill to be debated today is titled The Pensions (Superannuation Funds and Retirement Schemes) (Validation and Amendment) Act, 2013.



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