Lower House to receive amendments to Pensions Bill

The House of  Representatives will today receive the amendments to the Pensions Bill.
The Bill that was passed with 62 amendments in the Senate on September 29, paves the way for the reform of  pension arrangements for employees in the public sector.
Under the new provisions, pensionable officers will be required to contribute five percent of  their salary towards their pension.
The Pensions Act will also provide for the establishment of  a segregated fund for contributions; gradual increase in the retirement age to 65; and harmonisation of  legislation regarding public-sector pensions in a single statute, while repealing several enactments previously dealing with pensions.

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