Public, private sectors urged to launch more pension schemes

Bustamante Industrial Trade Union (BITU) President General Kavan Gayle says that the State, private sector and trade unions should push for the establishment of more pension schemes in 2022 for workers who are not currently on a plan.

The BITU boss told The Gleaner that the uptake in terms of private pension schemes was very low, running at about 20 per cent.

“There must be another serious push by the Government and private sector and the major partners in labour – both the State, private sector and the trade unions should push for more pension schemes.”

He urged pension providers to become more active in promoting pension schemes for workers who have not yet signed on to a pension arrangement.

Gayle pointed out that the new pension plans for tourism workers are set for implementation soon.

Earlier this month, Tourism Minister Edmund Bartlett said that the delayed pension scheme for tourism workers would come on stream on January 1, 2022.

Legislation for the scheme received the nod from Parliament two years ago, but its implementation was set back owing to the onset of the COVID-19 pandemic.

Starting early this month, some 350,000 tourism workers can begin registration for the scheme.

Another issue that Gayle is anticipating will get early attention this year is the Public Sector Compensation Review.

“We would want to start early discussions around the compensation review to understand clearly what it looks like and how it will impact the public sector,” Gayle said.

“It’s is a major investment by the Government and we anticipate that there is going to be the rollout before April 2022,” he added.

The review is intended to overhaul the structure of salaries and other emoluments in the public service, to make them more equitable.

It was first scheduled for implementation in April 2021 but was deferred by a year, largely owing to resource constraints linked to the economic fallout caused by the pandemic.

Acknowledging the severe impact that COVID-19 has had on the productive sector, the BITU president general wants the country to redouble its efforts at improving productivity across sectors.

He urged businesses to examine how they could create efficiencies and improve productivity in the workplace.

Meanwhile, Gayle said he was concerned about the low vaccination rate in the country. He urged unvaccinated Jamaicans to take the jab and comply with the protocols set out by health officials.