Government’s plan to provide pension and gratuity to retired public servants is expected to be rolled out on Labour Day.
During a recent post-Cabinet press briefing, Labour Minister Oliver Joseph said he will make an announcement to the workers on May Day regarding pension payment.
According to Minister Joseph, pension payment, which he described as “a burning issue”, is something the ruling New National Party (NNP) government, and has decided it will have to address.
He spoke of a committee, which was established to look at the pension for public servants making some specific recommendations, and that another committee is in place studying those recommendations.
“On May Day, in my speech, I will have a major announcement to make on pension,” he said.
The Labour Minister gave an account of the sum of money government has to pay out to civil servants coming out of the one-thousand dollars agreement reached with public sector unions for the period 2013 to 2016.
He announced that the one-off payment, due at the end of this month, will cost government seven million dollars.
In addition, the three-percent increase for 2017 will cost $6.5M, three-percent increase for 2018 will cost another $6.9M, and the four percent for 2019 will amount to $9.5M, bringing the total to $22.9M.
Labour Day, this year, will be celebrated at the Cuthbert Peters Park in St. John’s.
All affiliates of the Grenada Trade Union Council (GTUC) will march from the St. Peter’s Roman Catholic School to the park where they will gather for the annual rally.