Tourism Workers’ Pension Scheme to start admitting persons from Oct 1
Edmund Bartlett (File photo)
Tourism Minister Edmund Bartlett has announced that the Tourism Workers' Pension Scheme which has earned over $5 million in profits, is to commence the admission of persons at the beginning of October.
"Finally, the Tourism Workers’ Pension Scheme has finally come to fruition. I am pleased to share that the fund has already earned $5.1 million in profit, and as of October 1, we will start admitting persons," Bartlett stated.
He was addressing the Jamaica Hotel and Tourist Association’s (JHTA) 59th Annual General Meeting and Virtual Market on Friday, September 18.
The Tourism Workers’ Pension Scheme is in keeping with the Government’s focus on creating a social security network within the hospitality sector.
It is one component of a three-pronged human capital development plan for industry workers, which includes training and capacity-building.
The pension scheme is a defined contributory plan supported by legislation, and will require mandatory contributions by workers and employers.
The plan covers all workers in the tourism sector, from age 18 to 59 years, whether permanent, contractual or self-employed. These include hotel workers, as well as persons employed in related industries, such as craft vendors, tour operators, red cap porters, contract carriage operators, and workers at attractions.
The benefits will be payable at age 65 years or older.
Meanwhile, Bartlett lauded the JHTA for its resilience during the COVID-19 pandemic.
"The JHTA has always been a valuable tourism partner. It has been a rough seven months and I want to praise you for your resilience in the face of such great adversity. I just want to reassure you that we have your back," he said.
"So let us continue to collaborate for the success of the tourism industry and the betterment of the many persons and entities that greatly rely on it," added Bartlett.