Governor of the Central Bank of Barbados, Cleviston Haynes, sees an urgent need for pension reform as he warns that pension schemes and the level of benefits may come under pressure in the future.
He was addressing this morning Eckler’s annual pension investment conference.
Mr. Haynes highlights the decline in the number of people contributing to the National Insurance Scheme and notes that this trend is placing significant strain on the NIS.
He indicated this could create a major problem if it is not addressed and will place a burden on government.
Governor of the Central Bank of Barbados, Cleviston Haynes.