He says with a billion dollar injection to the fund by the government of Jamaica, older contributors will also be able to benefit as much as their younger colleagues. Tourism took a major hit when the COVID-19 pandemic started, but locally things are already looking up. Minister Ed Bartlett’s also celebrating another win. Speaking at a media luncheon Tuesday, the minister says the pension programme is the first legislated tourism pension plan in the world and offers unprecedented protection.
A benefit brought on by the government’s 1 billion dollar donation to the fund. Minister Bartlett notes only 12 per cent of the local labour force have a pension plan, something that could drastically change with the latest tourism instrument.