GOB Get Recommendations on the Implementation of the Pension Reform

GOB Get Recommendations on the Implementation of the Pension Reform

The Government of Belize is preparing to meet with members of the Joint Union Negotiating Team (JUNT) tomorrow morning. The Belize National Teachers Union (BNTU), the Public Service Union (PSU), and the Association of Public Service Senior Managers (APSSM) will be meeting with Education Minister, Francis Fonseca and Minister of State in the Ministry of Finance, Christopher Coye, to discuss pension reform. According to Minister Coye, GOB received recommendations from several consulting partners to determine the most suitable way to move forward with this reform.

Christopher Coye, Minister of State, Ministry of Finance: “I think it’s premature to speak on any particulars of pension reform at this point in time because we’re only just meeting or planning to meet with the joint union negotiating team on Wednesday morning and there will be several issues for discussion. The question of public officer pension reform will be one of those topics for discussion. There has been analysis by a couple different parties or consultants one of which is the Actuary for the Social Security Board and we have looked at their advice and recommendations and as well we had asked the IMF to conduct an analysis on public pension reform as well and they have provided that and I believe they’ve had discussions directly  with the unions on what they have come up with.”

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