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Cox reports new pension scheme in the works

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A forum on the new national pension scheme is to be held later this month.

And Finance Minister Eugene Cox told the House of Assembly yesterday that a new Pension Commission would be unveiled at the forum, likely to be held on May 13.

Mr. Cox told MPs: "Members will recall that in March of this year, I advised that the introduction of the National Pension Scheme was to commence on January 1, 2000.

"The Government also recognised the importance of establishing the Pension Commission at the earliest opportunity and I am pleased to advise that I have been successful in identifying highly-qualified persons to act as members of the Pension Commission Board.'' He added: "I now intend to bring into operation those sections within the legislation which provide for the establishment, operation and functions of the Pensions Commission in order to enable the Commission to begin their important role in the successful implementation of the National Pension Scheme.'' Mr. Cox added that employer and employee representatives, as well as pension providers would be invited to take part in the forum.

He said the forum would "promote a greater understanding'' of the pensions Act, identify and discuss concerns and build "cooperation and consensus between Government and the private sector on the introduction and application of the legislation''.

He added the forum would also: "Identify a vehicle for private sector representation and advice to the Pension Commission going forward.'' Also during the House session, Transport Minister Ewart Brown gave MPs an overview of this week's National Road Safety Week.

And he said: "There are things that the Government can do through legislation and enforcement, but the community must make the effort to play their part.'' Dr. Brown added that he was "encouraged'' that preliminary results had come in from a traffic survey conducted by the Opposition.

Youth and Sport Minister Dennis Lister told MPs that a new deposit and tagging system would come into operation for the new camping season, which runs from today until September 30.