Debate on Amendments to the Prime Minister Pensions Act Begins in House

Debate on amendments to the Pensions (Prime Minister) Act, to allow for changes to the formula by which a retired Prime Minister receives pension, began in Parliament on (Jan. 29).
Minister of Finance and the Public Service, Audley Shaw, explained that under the existing Act, a Prime Minister, on ceasing to hold that office and who is no longer a legislator, is eligible to receive pension equivalent to the current salary pertaining to that office.
Under the proposed amendments, a person who ceases to be Prime Ministers at any time after September 11, 2007, will receive a pension equivalent to two thirds of the annual salary appertaining to the current office of Prime Minister instead of an equivalent salary. The entitlement of persons, who have held the office of Prime Minister prior to September 11, 2007 and who have ceased to be legislators, should not be affected.
Other proposed amendments include a provision to allow surviving spouses and dependents of former Prime Ministers, who are currently receiving benefits, to continue receiving such benefits, and also a requirement for the current holder of the office of the Prime Minister to elect to receive either the current pension entitlement or the proposed pension entitlement.
“Based on the proposal, the current attendant allowance and benefits for both former Prime Minister and a surviving spouse of a Prime Minister in the second and third schedules of the Act are to be unaffected by the amendments,” Mr. Shaw said.
Debate was suspended on the Bill so as to allow for the participation of Prime Minister, Bruce Golding.