Minister of Tourism, Edmund Bartlett, has named retired banking and insurance executive, Richard Powell, as Chairman of the soon to be created Tourism Workers’ Pension Scheme.
In a statement yesterday afternoon, Minister Bartlett says Mr. Powell will lead a 9-member Board of Trustees, for a period of one year with immediate effect.
Mr. Powell will be joined by Attorney-at-Law, Hyacinth Lightbourne as deputy-chairman.
The other members of board are, Retired Actuary, Daisy Coke, President of the Jamaica Hotel and Tourist Association, Omar Robinson and Group Commercial Director of Sandals Resorts, Wayne Cummings.
They are joined by Hotelier, Philip Hofer, Attorney-at-Law, Carlton Williams, Chartered Accountant, Eric Crawford and Head of the Hugh Lawson Shearer Trade Union Education Institute, Danny Roberts.
The pension scheme, which was passed in parliament in July, has also received the assent of Governor-General, Sir Patrick Allen.
The scheme is a defined contributory plan supported by legislation and will require mandatory contribution by workers and employers
It’s designed to cover all workers aged 18 to 59 in the tourism sector, whether permanent, contract or self-employed.
The scheme is expected to come into effect next year, with benefits payable at age 65 years or older.