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The reform of the pensions system in Jamaica, represents a comprehensive attempt by the Government to ensure that persons are properly provided for after retirement. At this stage, efforts are being focused on the development of the National Pensions Act, which will be enacted to provide for the proper regulation of all Pension/Superannuation Schemes and Approved Retirement Schemes, the Trustees, the Administrators and Investment Managers. An adequate transitional period is to be allowed with respect to all the proposed reforms. These reforms shall be implemented with due concern for the existing arrangements. The Chief Parliamentary Council has begun the drafting of the National Pensions Act. The additional proposals requiring amendments to existing legislation will be addressed in the near future. Further representation on the issues raised in this paper, will be allowed when the Bill is being debated in Parliament.
Omar Davies
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May 2001
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