Govt Incentivizing ‘Special Early Retirement’

The government will be offering a special early retirement programme to interested members of the public sector.

The disclosure was made in the House of Representatives yesterday by Minister of Finance and the Public Service, Audley Shaw.

He made the announced as he outlined provisions of the Pension ( Public Service Act) 2010 while opening the debate in Gordon House yesterday.

Minister Shaw says those who take up the offer will not be affected by the provisions of the proposed legislation.

He told members of the House yesterday that the reform of the public sector pension scheme is critical as the government seeks to reduce its bill for pension payments.

He says it’s costing the government 32 billion dollars per year in pension payments.

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