JAMAICA - The Jamaican government has set aside US$300m for increases in pension payouts for government employees.
Finance and planning minister Omar Davies announced government retirees will see an increase in their pension payments as of July 2007.
Davies told parliament the government had set aside $300m to make the payments.
He said the increases will range from a minimum of $500 per month for pensioners receiving $75,000 and over per month to a high of $1,500 per month for those receiving $20,000 per month.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.