TWO-TIERED APPROACH TO FIXING UNEMPLOYMENT FUND SITUATION Government is taking a two-tiered approach to ensure Barbadians due to receive unemployment benefits continue to receive them. The first part involves a Cabinet decision to provide a cash injection of $12.5 million to the Unemployment Fund. In addition, Cabinet has accepted a recommendation from the National Insurance Board to suspend contributions from employers to the Severance Fund for two years. The money that would normally go to that fund will now be diverted to the Unemployment Fund at no additional expense to employers. These were the main highlights of a press statement from Minister of Labour, Social Security and Human Resource Development, Senator Dr. Esther Byer-Suckoo, as she sought to allay fears that the fund is in peril.
Posted on: Fri, 09 Jan 2015 21:10:09 +0000