Bruce doing his best to be a 1 term PM.

[Lazie]

Golding hints at change in retirement age

The Government has hinted that there could be change to the retirement age in Jamaica.
The current retirement age is 60 for women and 65 for men.
Prime Minister Bruce Golding touched on the issue during Sunday's 67th annual conference of the governing Jamaica Labour Party at the National Arena.
Pointing to the ballooning cost of providing for public sector pensions which is set to rise to $16 billion this year, Mr. Golding said his administration is moving closer to establishing a contributory scheme for Government-paid workers.
He said the Government is also looking at the possibility of increasing the retirement age in order that workers can improve their pension balances.
"We're going to have to look at a contributory pension scheme where the worker and the Government put their contributions into a pension fund which is then managed to finance these pensions. Secondly, we have to look at the retirement age (as) people are living longer today," Mr. Golding told JLP supporters.
A move earlier this year by France to raise the retirement age from 60 to 62, led to a series of strikes and protests in that country.
Hundreds of thousands of people protested against what they said was an attack on their rights.

http://rjrnewsonline.com/business/go...retirement-age

[Lazie]

IMF agreement at risk if Jamaica pays $9 billion owed to workers


Jamaica's Prime Minister Bruce Golding says the Government could jeopardise its agreement with the International Monetary Fund (IMF) if it pays out $9 billion owed to public sector workers.

Public sector workers in Jamaica have been clamouring for a 7% salary increase due to them in year two of a Memorandum of Understanding(MOU) signed with the Government.

Mr. Golding says while the Jamaican government understands its contractual obligations, it cannot afford to pay at this time.

[Rudi]

The raising of the retirement age is inevitable no matter who is the government in power. This is one argument the PM can win easily I think.

[Assasin]

that a what you think. Not when you have BITU, NWU, JALGO and all a them mobster union who have nothing but political interest at heart.

[Islandman]

It is inevitable in the US too, yet every politician fraid fe touch it.

There is a book called The Myth of the Rational Voter. Not a bad read if you agree with Winston Churchill that democracy is the worst form of government, except for all the others we have tried so far.

[Lazie]

The raising of the retirement age is inevitable no matter who is the government in power. This is one argument the PM can win easily I think.

I guess we'll see.

[Rudi]

There really is no other option as other countries are now accepting. The economics of the demographic situation is the driver. All he would have to do is dear the PNP that they can/would do any different. Jamaica least of all can afford not to do it. How many people you know who have retired collect their pension then are rehired on contract. Not sustainable in countries much wealthier than yard.

[Assasin]

nobody nay argue that. I am saying they are dettached from reality. Everybody want it done but everybody saying not my income and my retirement.