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JTA and Police Federation oppose aspects of proposed pension reform
At least two groups of civil servants are voicing opposition to several of the current proposals for public sector pension reform.
The Jamaica Teacher's Association, (JTA)and the Police Federation say several of the current proposals are untenable.
Chairman of the Police Federation Constable Franz Morrison says their main concern is the change in the accrual rate from 2 point 2 to 1 point 8 percent.
He says the federation is opposed to any change in the accrual rate or changing the method of calculation from utilising the highest salary at retirement that the Officer enjoys.
According to Constable Morrison, the Federation isn't opposed to members contributing to their pensions, as currently members contribute 1 point 7 percent of their pensions.
Meanwhile the President of the JTA, Paul Adams says, according to his calculations, if the proposed reforms are approved a retiree will get about 40 percent of what a pensioner now receives.
He says those responsible for crafting the proposed reforms do not appear to have considered the impact on pensioners. He says pensions are now calculated based on the highest annual salary which is usually the last year's earning and pensioners will be negatively impacted if the calculation is based a person's average earnings.
At least two groups of civil servants are voicing opposition to several of the current proposals for public sector pension reform.
The Jamaica Teacher's Association, (JTA)and the Police Federation say several of the current proposals are untenable.
Chairman of the Police Federation Constable Franz Morrison says their main concern is the change in the accrual rate from 2 point 2 to 1 point 8 percent.
He says the federation is opposed to any change in the accrual rate or changing the method of calculation from utilising the highest salary at retirement that the Officer enjoys.
According to Constable Morrison, the Federation isn't opposed to members contributing to their pensions, as currently members contribute 1 point 7 percent of their pensions.
Meanwhile the President of the JTA, Paul Adams says, according to his calculations, if the proposed reforms are approved a retiree will get about 40 percent of what a pensioner now receives.
He says those responsible for crafting the proposed reforms do not appear to have considered the impact on pensioners. He says pensions are now calculated based on the highest annual salary which is usually the last year's earning and pensioners will be negatively impacted if the calculation is based a person's average earnings.