Pension auto enrolment initiative to be implemented

Prime Minister Dr. Andrew Holness says the Government will implement a pension auto enrolment initiative.

Under the initiative, employers will be required to automatically register eligible staff into a workplace pension scheme, rather than requiring them to apply.

The Prime Minister made the statement at the Pension Industry Association of Jamaica annual luncheon today.

According to Dr. Holness voluntary pension enrolment is not reaching enough citizens.

Dr. Holness said pensions are instruments of stability and highlighted the importance of the PIAJ.

He explained that with a culture of instant gratification seemingly taking root in the society, Government must takes steps to counter this.