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JTA warns about Government's proposed changes to teachers pension entitlements

Published:Tuesday | April 1, 2014 | 7:06 PM

Jerome Reynolds, Staff Reporter



KINGSTON, Jamaica:

The Jamaica Teachers’ Association (JTA) is warning that there could be a huge financial consequence for the government if it goes ahead with changes to pension entitlements.




JTA President Mark Nicely says this is because there would be a rush of teachers applying for early retirement.



Nicely says the association is against some of the proposed changes to the Code of Regulations currently being reviewed by the Ministry of Education.



According to Nicely, teachers who are close to retirement were assured by the education ministry that a window would be provided so that they would not be affected by the new regulations.



However, he says the education ministry has backed away from this promise.



The Government’s White Paper on public pension reform proposes, among other things, to increase the retirement age from 60 to 65 years.



This would be done by increasing it by one year each year, starting April 2016.



The JTA President says the proposed provisions relating to teachers, if implemented, would have serious financial implications.



Nicely says if the law goes ahead then the government may find itself having to pay out huge sums to teachers applying for early retirement.



Nicely was speaking at a press conference today to launch the JTA's 50th anniversary and its schedule of events.



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