BPSU calls pension change an additional burden

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As of July 1, newly hired civil servants will have to make a contribution to their pension plans.

It’s a move that the government insists will help save the treasury a lot of money.

Prime Minister Dr. Hubert Minnis announced in his wrap-up of the budget earlier this week that in keeping with the practices of many other countries, new government hires will have to contribute with a commencement date to be announced soon.

Dr. Minnis added that the reform is necessary in order to address a large pension shortfall.

President of The Bahamas Public Services Union (BPSU) Kimsley Ferguson weighed in on the change stating, that without wage increases, the plan will put an additional burden on the backs of Bahamians.

Ferguson called for more consultation with stakeholders, as he maintains that the existing pension scheme is simply inadequate.

About Genea Noel

Genea Noel is the news director and weeknight TV news anchor at Eyewitness News. She began working at Eyewitness News in 2018 as the newsroom editor and was subsequently promoted during her tenure. As a household name who graces the screens of thousands of Bahamian homes each night, Genea has racked up an impressive five Bahamas Press Club awards, including “The Cyril Stevenson Award for Outstanding Political Journalism” (2020), “Best Studio Live Producer” (2020) and “Best Newscast” (2018).

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