Created on 25 April 2017 Hits: 270 Written by J. K. Roberts Category: BUSINESS
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AN OPEN APPEAL FOR AMENDMENT TO THE PENSIONS ACT 1990

Directed to and deserving of a sincere pledge by the following persons:

 

[] The Government of Grenada, for urgent enactment.

[] The main Opposition party and other political bodies, for immediate action upon forming the Government.

[] The Labour Representative in Parliament, for the tabling of a Private Bill.

[] The Grenada Association of Retired Persons, and the others, for advocacy.

Considering that receipt of pensions is a constitutional entitlement for retired Government Officers;

Considering that pensions, as a reduced income due to age, health and invalidity challenges, provide for social and economic welfare;

Considering that increases in pensions help to offset inflation and to arrest degradation and depression;

Considering that there is no comprehensive Government policy and provision to give financial relief to retirees, pensioners and aged citizens;

Considering that it is the view that recommendations with respect to increases in pensions for retirees and pensioners, from actuarial reviews of the National Insurance Scheme, have not been implemented in many years now;

Considering that many retirees and pensioners have suffered tremendous loss from the financial fiasco involving institutions such as the British American Insurance Company Ltd (BAICO) and Colonial Insurance Company (CLICO);

Considering that retirees and pensioners are disgruntled and have being lamenting for attention to be given by the Government to their security plights;

Considering that Government pensioners are at a gross disadvantage as compared with other retirees and pensioners in Grenada, including parliamentarians who are eligible for pensions after serving for only two terms, and with their counterparts in the wider CARICOM region;

Considering that a typical Government pensioner receives low pensions and is committed to mortgages and dependants;

Considering that the intent and spirit of the Pensions (Increase and Continuation of Payment) Act of 1990 is commendable and must be espoused;

Be it resolved that the said Pensions Act be amended to reflect:-

"Subsection 3(2) -   The courtesy or consideration extended to Public Sector employees, in lieu of a per centum increase, shall also be extended to every Government pensioner."

[By: J. K. Roberts (Mr.); 'premature retiree' of the Public Service of Grenada, and author of "Into The 21st Century" and "Management Practices in The Public Service of Grenada"].

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