Mon | Sep 22, 2025

Tourism ministry readies sector for pension, retirement plans

Published:Thursday | May 20, 2010 | 12:00 AM
Bartlett

WESTERN BUREAU:

THE MINISTRY of Tourism, in partnership with the private sector, yesterday began its series of regional forums to sensitise the tourism industry on its proposed pensions and retirement scheme with a meeting in Montego Bay, St James.

The consultation, held at the Iberostar Hotel, is aimed at educating members of the tourism sector about the benefits of entering into approved pension schemes.

During the consultation, the lack of accessibility to retirement benefits by Jamaica's tourism workers was highlighted. The tourism industry accounts for just over two per cent of all pension plans in the country.

Safety net necessary

"The whole business of ensuring that there is a social security net for the tourism industry overall has been evading and eluding us for too long," said Minister of Tourism Edmund Bartlett.

He said a team in the ministry has worked hard to develop the retirement policy and to bring the stake-holders together to discuss the issue.

Bartlett also noted that in addition to providing a safety net for tourism workers the pension forums would educate employees on the necessity of having long-term plans.

"I make the point because I am aware that the tourism industry is not the best-paying industry in the country," he said.

W. St Elmo Whyte, consulting actuary and presenter at the forum, said that the number of people over 65 years is increasing every day, and their financial security is not being improved.

"Retirement doesn't mean retirement from life, it just means you're not supposed to work, but you still have to live," he declared. "It's very important that we take retirement seriously, and that we set out to cause good citizens to deal with the matter."

christopher.thomas@gleanerjm.com