ZIZ News — Work continues on the plan to have workers at the industrial estate receiving gratuity payments after serving a minimum of fifteen years at a particular business establishment.
That’s according to Prime Minister, the Rt. Hon Dr. Denzil Douglas as he updated the country on the progress of the gratuity plan.
The Prime Minister said “the government has put a policy in place, the severance fund is presently being worked on to be properly capitalized by the ministry of finance and the ministry of labour in order to ensure that the payments can be made for those who wish to leave the service after they have worked for fifteen years and more on the industrial estate.”
He dismissed any fears or doubts about the possibility of this plan and added “the policy is in place; it is already rooted in legislation. We have a proposal presently before the ministry of finance to identify the amount of money that it would take in order to satisfy not only those who have been retrenched over the last few weeks and months but those who wish to retire.”
An employee is entitled to the long service gratuity if he or she retires at age of 62, opts to retire after at least 10 years of service to the same employer or dies while in the course of his or her employment after at least 10 years service.
The long service gratuity is to be paid from the severance payment fund and paid within a period of 90 days.