Georgetown -The Pensions (President Parliamentary and Special Offices) (Amendment) Bill No 26/2010 was today passed with a majority support in the National Assembly.
The Bill was read for the second and third time by Leader of Government’s side of the House Prime Minister Samuel Hinds prior to its passing.
Prime Minister Hinds who presented the bill for Minister of Finance Dr. Ashni Singh explained that the bill removes the current requirement which obligates a parliamentarian to attain the age of 40 years before he or she can become eligible for the benefits whether they would have been accrued from three or four years of service as a legislator or from the full service of 12 years.
The Prime Minister further explained that if the amendments were in place before, persons who may not have attained the age of 40 when they ceased being in the parliament would have been able to benefit immediately upon their departure from the house.
The pension scheme is a contributory one for parliamentarians since persons upon becoming members of parliament also become contributors and contribute at a rate of six percent of their salary.
The bill also stipulates that after serving 12 years the legislator can choose to receive a gratuity and not continue to be a contributor to the scheme.
People’s National Congress Reform member Volda Lawrence in opposing the bill noted that her party would have supported it if the same principles as those outlined for the President’s benefits were applied to all pensioners.
