Is the Public Service Workers’ Trust Still Beneficial?

The Briceno Administration is looking for a different avenue on how to better manage the increments of Public Service Workers that were frozen between 1995 and 1997. The monies were later put into a trust – the Public Service Workers’ Trust (PSWT). The Trust was established to fund various projects for the benefit of public service workers. However, Prime Minister John Briceño, announced today that it would be more beneficial to do away with that trust completely. Here is how he explained it. 

Hon. John Briceño, Prime Minister of Belize: “I believe that maybe it’s just best to wind it down, sell off the shares whatever assets they may have and then take the money and share it among the people, the beneficiaries because if we have somebody managing it or a group managing we are spending their money and the real beneficiaries are not getting the necessary benefit that they should be getting. The problem with that is that it’s not workable I mean how many people are going to benefit? How many people are going to borrow and you see they borrow and they don’t pay or they say they will give out food and they give out so much and they said they give out much more. I think it has been there for so long some of the beneficiaries have already died or passed away so maybe and I would have to get legal advice from the attorney general but maybe it’s time to seriously consider winding it up and letting the beneficiaries get what they deserve.”