OTHNEIL BLAGROVE, senior manager – Sales, JN Life Insurance Company, is urging Jamaicans to make pension planning a priority when planning for the future because of its importance when it comes to retirement or unforeseen circumstances.
Blagrove said with many Jamaicans who are part of the labour force not part of a pension scheme or making contributions towards their retirement, any conversation about financial literacy and wellness should involve retirement planning.
“Earlier this year, the Minister of Finance, Dr Nigel Clarke, indicated that just under 20 per cent of the population were a part of an approved pension scheme,” he stated.“Based on the data, this would be about 200,000 persons out of a labour force of about 1.1 million persons, which means that there are still some 900,000 Jamaicans who will have no protection when they retire or if there is a situation where they are unable to work again,” he added.
https://jamaica-gleaner.com/article/news/20220419/growth-jobs-make-pension-planning-part-financial-wellness-conversation
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