Barbados raids national pension fund to provide severance pay to dismissed Transport Board workers.

Leroy Parris and good friend Finance Minister Chris Sinckler share champagne

Leroy Parris and good friend Finance Minister Chris Sinckler (left) share champagne

Robbing the future? Kiss your pension goodbye?

Robbing Peter to pay Paul? Juggling accounts because there’s precious little left in the treasury? All of the above?

The headline pretty well says it all – we’re broke!

Dismissed Transport Board workers are getting every cent of their long overdue severance pay, thanks to Minister of Finance Chris Sinckler.

Very reliable sources have revealed that the cash-strapped statutory corporation that provides islandwide public transport services had, through the Ministry of Transport and Works (MTW), sought the assistance of the National Insurance Scheme (NIS) to meet its obligations to retrenched workers.

… read the full story in The Nation Pay Day at Last

Advertisements

9 Comments

Filed under Barbados, Economy

9 responses to “Barbados raids national pension fund to provide severance pay to dismissed Transport Board workers.

  1. Anonymous

    when will sinckler stop using N I S funds? what happen to the 60 millions he took to pay 4 season

  2. Long gone

    no one really believes there is anything left in the NIS do they?

  3. The NIS is the MoF pocket money, while he sip champagne with his money swindling friend from CLICO, so many people has died without getting one cent of their hard earn money back, & this man is friend with Government Ministers & walking about free in Barbados. most of the people in jobs will not have a pension when they retire. What a government Barbados have now, we will be in this sh– until the next election if any of us is still around. Health service gone, pension gone, bus service gone, what else can be liquidated?

  4. Should also mention tertiary education gone as well.

  5. gentlejim

    And the Minister of Labour is concerned that self employed persons do not contribute.. Contribute for what ?so the Government can appropriate more of the funds for wastage?

  6. Self-Employed

    This really encourages me to pay money into the NIS. Just maybe the credit union or my choice of Canadian Bank is safer away from the politicians.

  7. Breadfruit

    Self employed as well & wondering every payment if I’ll ever get a pension when my time comes, I’m actually glad I can’t afford to pay myself much, I reckon my NIS contributions spent before the cheque cashed!

  8. D Oracle.

    I have NEVER paid NIS and only on a couple rare occasions decades ago have I paid income tax….phuque the Government!

  9. Chicken Gunyuh

    Maybe they can also use some of the NIS money to buy parts and GARBAGE TRUCKS, it is ridiculous!