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House to debate Tourism Worker's Pension Bill on May 21

Minister of Tourism Edmund Bartlett says the long awaited Tourism Worker's Pension Bill will be debated on May 21.
 
The Bill, which was tabled in the House of Representatives on April 30, when passed, will establish a defined pension scheme for tourism workers and self-employed tourism workers.
 
In a statement on Thursday, Mr. Bartlett said these workers will be paid retirement benefits in respect of each member and ancillary benefits for beneficiaries.
 
Mr. Bartlett said the workers will have a minimum pension of $200,000 when they become 65.
 
The new pension scheme will start with an endowment of $1 billion from the Ministry of Tourism.
 
It will be paid in instalments and ensure that immediate benefits accrue to qualified pensioners who have met the vested period of five years.


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