Government Pledgees $30million -Plus In Gratuity/Pensions
The Turks and Caicos Islands Government has reinstated the civil service pension and gratuity in the House of Assembly on Thursday, 17 March, through the unanimously approved passage of the Public Sector Employee Fund Bill 2022 and Pension (Amendment) Bill 2022.
The Public Sector Employee Fund Bill provides for the establishment of a defined contribution Pension Plan for Public Sector Employees whereby 6% of employees’ salaries will be paid into a pension plan for their benefit upon departure from the public sector through all circumstances including resignation, dismissal, redundancy, disability and also retirement.
The Pension (Amendment) Bill reinstates the option for civil servants – employed prior to 6th April 1992 – to elect to receive gratuity payments and a reduced pension upon retirement. Amendments also secured the right to a pension for all employees who complete a minimum of 30 years of service in the public sector, eradicating the requirement to retire at the age of 60 in order to secure their pension.
Added Staff Assignments At Provo Airport To Ease Weekend Bottlenecks
The Turks and Caicos Islands Airports Authority (TCIAA) said it will implement a number of measures to somewhat ease the long passenger wait at the Providenciales Airport Saturdays and Sundays.
The TCIAA made the statement in news release on Wednesday, March 23, as it addressed the myriad of concerns by not only travel public but hoteliers and other tourist interests. you can read the statement by clicking the link.