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Showing posts from September, 2022

National Insurance Scheme (NIS) Running out of Money?

Prime Minister Mia Mottley raised the alarm bell earlier in August 2022, that the National Insurance Scheme (NIS) needed an urgent fix. She did so after receiving a report from an actuarial expert Derek Osborne, who projected that the near $4 billion NIS Fund risks being depleted in about 12 years by 2034 if major reforms are not undertaken. The prime minister however stressed that while the NIS was currently not in crisis, if efforts weren't taken to assure it could keep providing benefits, it may reach that stage.  Mr. Osborne, the Bahamian actuary expert tasked with assessing the health of the NIS, delivered the grim news Wednesday 10 August 2022, as he called on Barbadians to agree on a local solution to the threats facing the NIS. The announcement has been met with astonishment and disdain by Barbadians. Members of the public have been questioning the sincerity of government ministers who make statements like "we are in this together" while maintaining a pension arra...

Long Suffering Former LIAT Employees Ignored by Shareholders

Over 600 former employees of LIAT owed about EC$80 million (US$30 million) in severance payments have been complaining to regional governments for many years. They have tried many different approaches with the hope of being paid including presenting petitions to Governments, engaging in union negotiations with the former employer, court appearances and press conferences with very little positive results. In 2020, it was reported in the press that the court-appointed administrator Cleveland Seaforth said the employees were not likely get the outstanding monies anytime in the near future.  The fact remains however that the cash-strapped regional airline LIAT still owes former employees significant severance payments, and they are suffering.  In May 2022, the press reported that victimized former LIAT (1974) Limited airline employees were disappointed and frustrated with how they were being treated by the four labour party Caribbean governments over the previous two years, partic...

What is the Age of Retirement in the Private Sector?

I have been receiving calls from more employees than employers about the determination of the retirement age in the private sector. The reality in Barbados is that in many cases employees continue to work without contracts of employment or at least a statement of employment particulars in accordance with the Employment Rights Act 2012.  In other cases, even where there is a contract, it might be dated and silent on the question of retirement.  The common practice among some employers is to retire employees based on the retirement age set by the NIS at which a person can begin to receive their full NIS pension. These employers are using the compulsory age of retirement which obtains in the public sector (that is, Central Government and state-owned enterprises), which has been established by legislation such as the Pensions Act, Cap. 25 and the Statutory Boards (Pensions) Act, Cap. 384. Contrarily, there is no regulation that sets a normal retirement age for anyone working in th...

Kirt Edwards Receives $226,137 Settlement for 2014 Dismissal

 A recent article penned by Mike King in the daily Nation Newspaper reported that Kirk Edwards, a former batsman for Barbados and the West Indies, received an out of court settlement from his former employer, The Barbados Cricket Association (BCA) for breach of contract and related losses for $226,137. The settlement stemmed from an incident that occurred in 2014. It was an unfortunate incident which took approximately (8) years to settle.  Edwards, 37, is a right-handed batsman and a right-arm medium bowler. He has represented Barbados and the West Indies in cricket. He played club cricket in Barbados for Maple Cricket Club, where he served as team captain during the 2009 Twenty20 Club Champions League competition in Trinidad. He joined the Wanderers Cricket Club in 2010 and made his Test debut for the West Indies against India at Windsor Park in Dominica in July 2011. A conflict arose between Edwards and the BCA in 2014, when he refused to sign for match kits as he was not i...