How will Pension Plan Work for Teachers and GAMAS

Patrick Faber

But how will the pension plan work, considering that the existing configuration is a seventy-thirty split with grant-aided schools?  It’s a question that was posed by the former Minister of Education to his successor, who provided a financial breakdown in response.

Patrick Faber, Area Representative, Collet

“I’m not clear, Madame Speaker, as to what will happen with those persons who are now pensionable, just coming on, just retiring.  What will happen to those persons who have, let’s make an example of somebody who is teaching for twenty-five years, has five years more to go in the system, the problem has always been what will happen to those twenty-five years when the formula was seventy-thirty.  Who will pay that portion?  And I am not clear if the minister is saying that the government is committing to take on all that back payment, that thirty percent for all the years of those service that the teachers did in those years.  The other thing, Madame Speaker, is that I am not hearing clearly from him, and I hope he can elucidate, that they will cover full pension for all of these teachers and that there is no contribution on the part of teachers in the making any at all.  I would want him to elucidate on that for primary school teachers and for secondary school teachers.  Will there be a contributory pension, is there one in the pipeline?  Because if we’re giving the teachers full pay, hundred percent, as opposed to the seventy-thirty at the secondary level and then the intention is to come back and say, alright, 9ou have to contribute to the pension, plus all the primary school teachers, then you’re giving with one hand and taking with the other.”

Francis Fonseca

Francis Fonseca, Minister of Education

“Madame Speaker, the total investment, very important, to cover the additional thirty percent salaries and benefits of teaching and non-teaching staff, year-to-year over the next five years is projected at around twelve to thirteen million dollars a year.  So over a five-year period, the total figure will be sixty-four point eight million dollars invested in our teachers and our education community and not leaving out the support staff as well.”