Gayle: Increase NIS contribution
Published:Tuesday | October 1, 2024 | 12:07 AMEdmond Campbell/Senior Parliamentary Reporter
Government Senator Kavan Gayle is suggesting an increase in the contribution working Jamaicans make to the National Insurance Scheme (NIS) or an extension of the age of retirement to ensure the sustainability of the scheme.
At the same time, Opposition Senator Professor Floyd Morris is pushing for the promulgation of legislation to protect the rights of senior citizens in the country.
On the motion of adjournment in the Senate on Friday, Gayle said that with the challenges that come with an ageing population, concrete steps should be taken to ensure the future of the NIS.
He argued that innovative solutions, such as adjusting the contribution rate or revisiting the retirement age schedule to ensure that contributions continue for a longer period, should be explored.
“There are people who reach that retirement age who still want to fulfil the need of continuous employment,” he said.
Noting that the first senior citizens policy was established in 1995 and revised in 2022, Morris said there was no doubt that there was urgent need to put measures in place to protect seniors.
Morris reminded his colleagues in the Senate that he tabled a resolution in the Upper House in 2022 calling for, among other things, the establishment of legislation to protect the rights of senior citizens.
He said debate on the motion started and was adjourned for continuation but that to date, it had not been revisited.
Morris said he is anticipating that when the debate resumes and closes, the Government will take steps to promulgate legislation to protect the elderly population.
“I am looking forward to the completion of the debate because I want to see what is going to be the final recommendation from the Senate because we have to make sure that not just policy is in place, but a legislative framework to protect one of the most vulnerable groups in the society,” he said.
Gayle, who moved the motion of adjournment in observance of Senior Citizens’ Month, said the revised senior citizens policy reflects the Government’s unwavering commitment to ensuring the full inclusion of senior citizens in every aspect of nation building.
He said the policy provides programmes designed to meet the needs of individuals 60 years and older.
However, he noted that a continuous review of the policy is critical, especially when it comes to income security for seniors.
“While we are committed to safeguarding our senior citizens, we must recognise that there is more work to be done such as promoting and encouraging the expansion of private pension and retirement schemes in the workplace,” Gayle said.
He said the country has moved into an era where pension and retirement schemes seem to be a thing of the past. He said these schemes provide an essential supplement to the NIS and can significantly ease the financial burden on retirees.
He said steps should be taken to ensure that health-insurance support is readily available after retirement to enable seniors to access care that becomes critical during that period of their lives.