Building awareness among Public Service Workers of Government’s Pension Reform Initiative.

The Grenada Government’s proposed key considerations for the new Pension Reform Scheme were the subject of discussion of Senior Human Resource Officers and Administrative Officers across the Public Service who met on Thursday, June 15, 2023.

The scheme, which is scheduled to take effect on January 1, 2024, is intended to cover all workers.

A presentation on the proposed key considerations was done by members of the Pension Reform Committee led by Mrs. Hillaire-Marshall, Permanent Secretary, Department of Public Administration (DPA), and Dr. Curlan Gilchrist, Chair of the Pension Reform Committee.

The main discussions of the arrangement centered around:

• Treatment of the current pension plan
• Administration of the proposed scheme
• Nature of the pension – whether a defined contribution or a defined benefit plan
• Sustainability of the new pension scheme

The decision of the pension reform was well received.