Debate on bill to establish contributory pension scheme to begin on Wednesday

Debate on a Bill to establish a contributory pension scheme in the public sector is to begin in the House of Representatives today.

The legislation seeks to, among other things, make it mandatory for all pensionable officers to contribute five per cent of their basic salary towards their pension.

The Bill will also seek to gradually increase the retirement age by five years to age 65, and harmonize the legislation governing public-sector pensions in a single statute, while repealing several enactments that previously dealt with pensions.  

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