PENSION REFORM TASK FORCE CONTINUES THE IMPORTANT WORK OF ADVANCING EFFORTS TOWARDS THE IMPLEMENTATION OF THE CONTRIBUTORY PENSION PLAN
BASSETERRE, St. Kitts, February 22, 2024 (SKNIS) – During the February 22, 2024, Sitting of the National Assembly, Prime Minister the Honourable Dr. Terrance Drew, gave a comprehensive update on the Pension Reform Task Force that is charged with advancing the work on the Contributory Pension Plan.
The Contributory Pension Plan, first announced by Prime Minister Drew in his 2024 Budget Address, entails a three (3) percent pension contribution. It is specifically designed for all Government Auxiliary Employees (GAE) and those employed by the government since May 18, 2012.
Prime Minister Drew indicated that the Pension Reform Task Force continues to meet regularly. He said it is the goal of his administration to ensure equity in the treatment of all categories of government workers, including Government Auxiliary Employees.
“Towards this and in an effort to ensure sustainability, we have engaged the services of an actuarial expert to perform necessary assessments and provide recommendations to the Cabinet. We are determined to, as far as possible, ensure that all employees are adequately compensated for their work and contribution to achieving our sustainable island state agenda,” Dr. Drew said, while stating that the intention is to ensure that workers are able to retire in dignity.
The Pension Reform Task Force consists of representation from the Head of the Civil Service, the Accountant General Department, the Human Resource Management Department, the Ministry of Finance and the Director of Audit.
Prime Minister Drew noted that the Government of St. Kitts and Nevis, under his leadership, will continue to put measures in place geared towards improving employee working conditions and benefits.
He added, “As we bring these benefits forward however, there is also responsibility, and I want our people to be responsible people, hard-working people, productive people so that all of this can really be sustained and redound to the benefit of all of our people.”
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