Senate vows quick action on pensions
Members of the Upper House agreed yesterday that when the order for an increase in seniors? pensions does come through, it will be paid retroactively.
Seniors have been up in arms over Government?s failure to introduce a pension increase before Parliament was suspended for the July 24 General Election. Matters such as the Contributory Pensions Act usually come before the House of Assembly at the end of the budget period in March, however the order for the increase had not been passed before the House was suspended in June.
Seniors were then told they would have the increase by December or January. It was originally scheduled for August.
Government has said previously that it is not likely the increase will be retroactive until August, however a bill promising the increase would be dated back to August was passed first in the House of Assembly last week, and then by senators in the Senate yesterday.
The actual order for the increase itself, however, is yet to be tabled.
One reason given for Government?s initial hesitation on whether or not the payments would be made retroactive was where the money would come from, with a Government spokesperson explaining businesses could not be expected to make retroactive payments towards the Contributory Pensions Fund.
Now, despite the order for the payments to be retroactive, Government is maintaining that businesses will not be asked to contribute ?retrospectively?. ?Government has no intention of imposing an unfair burden on businesses by way of retrospective contribution,? said Government senator Raymond Tannock in the Senate yesterday.
There have been concerns that Government will not make the increase indicative of the rise in the cost of living. However Senate president Alf Oughton said: ?I am certain the Government will be cognisant of the cost of living.?
?Government is releasing its hold on the reins with respect to the pension fund,? commented UBP senator Rev. Leonard Santucci. ?They didn?t hold the reins with respect to the Bermuda Housing Corporation, travelling ...but thank goodness they have done so with seniors.?
