The tourism ministry is to continue sensitization sessions for workers in the industry this week, to educate persons on the benefits of the new tourism workers’ pension scheme legislation which came into effect on January 31.
The sessions will be held at the Grand Palladium Jamaica Resort and Spa, Sangster International Airport, Secrets Montego Bay and Excellence Oyster Bay and Portland on February 27.
At a press conference on the scheme on Monday (Feb 4), Tourism Minister Edmund Bartlett said, “The regulations will allow for a 180-day period for the Augmented Pensions Beneficiaries. After we have designated that, those people will have the opportunity to register. Once they have registered, they will be on and the programme begins with earnest with the ordinary members.”
The pension scheme will see persons contributing an initial three per cent of their income for the first three years and then five per cent thereafter. This contribution will be matched by the employer. However, employees have the option of contributing up to 15 per cent of their salaries over time.
The distribution of the fund will be carried out in tranches, with the first disbursement scheduled for this financial year (before the end of March 2020).
A formal presentation of the scheme is to be made at a later date, the tourism ministry says.