Tourism workers pension scheme surpasses $5b in savings
/ Our Today
administrator
Tourism Minister Edmund Bartlett has announced that the Tourism Workers Pension Scheme has now surpassed $5 billion in savings since its inception.
“I would like to indicate, by way of out-turn, that the world-class, world-standard, historic Tourism Workers Pension Scheme, in its first two years…notwithstanding [Hurricanes] Melissa and Beryl…stands now at $5.1 billion,” he said.
Bartlett made the announcement during the Standing Finance Committee of the House of Representatives meeting on March 6 at Gordon House, where members reviewed the 2026/27 Estimates of Expenditure.
The minister further stated that beneficiaries impacted by Hurricane Melissa who have changed jobs will not be penalised.
Instead, they will be permitted to transfer their pension arrangements to subsequent employment within the sector should they be required to change jobs.
“Members who have been dislocated in one form or another as a result of [Hurricane] Melissa will not be affected at all. Indeed, if it is that members are now forlorn of having to go to other occupations, they can then take that pension arrangement with them wherever they go,” Bartlett informed.
He noted that the transferability of the pension arrangement is unique to Jamaica, as it is the only scheme worldwide that offers a comprehensive pension plan covering every category of worker in the tourism sector.
The Tourism Workers Pension Scheme, which was seeded by the Government with $1 billion, is designed to provide coverage for permanent, contract, and self‑employed workers in the tourism sector between the ages of 18 and 59.
This coverage extends to hotel workers as well as individuals employed in related industries, including craft vendors, tour operators, red cap porters, contract carriage operators, and workers at attractions.
Qualified pensioners who have met the five‑year vesting period will begin receiving benefits at age 65 or older.
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