Kingston, Jamaica – The House of Representatives last week has passed the Tourism Workers Pension Bill, which seeks to establish a defined contribution pension scheme for hospitality industry workers.
Tourism Minister Edmund Bartlett said the scheme will be the largest single pension plan in Jamaica and, arguably, the Caribbean, and a landmark development for the country’s workforce.
“It will involve in excess of 300,000 workers which will represent one-fifth of the total workforce of Jamaica. That accumulation of affordable capital will present an opportunity for investment and for capital distribution for all sorts of development in the country,” he said.
In Bonaire meanwhile discussions are ongoing between unions and employer organizations, to introduce a General Pension Plan for all private sector employees, not yet covered by a pension plan.