Pension boost for retired Cabinet ministers
Retired Cabinet ministers are set to have their pension pots restored, after a resolution proposed by the Premier passed at the House of Assembly.
Michael Dunkley explained on Wednesday night that ministers' salaries were reduced by 10 per cent in March 2013 to help cut costs, a move which remains in effect today. However, any minister who retired after that point has seen their pension from the Ministers of the Legislature Pension Fund (MMLPF) similarly docked.
“This was an unintended consequence of the resolution, and is also unfair to the members who, for the most part, would have paid into the MMLPF at the higher salary,” said Mr Dunkley.
The Premier suggested the introduction of a retroactive resolution to fix the issue, which went through uncontested.
“For the avoidance of doubt, nothing in this resolution shall be taken to modify the annual salaries actually payable to members of the legislature,” Mr Dunkley added.