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Government responds to Trade Unions' Pension Proposal Today


Wednesday, December 12, 2018 7:30 PM- George's, Grenada
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December 12, 2018 – Government today responded to the pension proposal submitted by the public sector trade unions and staff associations.


Following the intervention by the then Acting Minister of Labour, Honourable Anthony Boatswain some weeks ago, Government first provided a new proposal to the trade unions last Tuesday.


Government’s new proposal offers pre-payment of pension or gratuity of 8%.

The unions and staff associations subsequently submitted a new proposal to Government on December 8, in which they are still seeking the same 25% gratuity, based on the 1958 formula.

The unions have also requested additional data to help provide the technical basis for their demands, which the Government has agreed to provide.

Government maintains that the unions’ current demand will break the Fiscal Responsibility Law and also negatively affect the country’s debt to GDP ratio which has been reduced significantly with the home-grown Structural Adjustment Programme.

Further, reversing the gains made on lowering the debt to GDP ratio runs counter to the agreement with the International Monetary Fund and it will jeopardise millions of dollars in potential funding for various projects expected to come on stream in 2019.


Additionally, if Government accedes to the unions’ demands, its ability to fund programmes such as Imani, house repair, school books and uniforms and many others, will be significantly compromised.

Friday, December 14 is the date set for the resumption of negotiations. Government looks forward to a speedy and amicable resolution of this matter.


 

 

 

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