BADMC pensioners could receive long-awaited funds by the end of year

After six years of High Court proceedings and the deaths of some retirees connected to a non-contributory pension plan lawsuit brought against the state-owned Barbados Agricultural Development and Marketing Corporation (BADMC), authorities are hoping to have the $2 million fund paid out to beneficiaries by year-end.Chief Executive Officer (CEO) of the BADMC Frederick Inniss said following a final settlement order issued by the court on November 8, he intends to go all out to see if payments could be made to the 30 employees entitled to the money. However, he quickly pointed out that the final timeline was in the hands of the actuary and the court.In August 2020, the court ordered that the fund be dissolved and the funds distributed.“Through several subsequent hearings on the matter and with the assistance of the actuary and administrator of the funds to compute the amounts to be distributed, a final order was settled Nov 8, 2022.That order and the instructions of the court have required that the actuary revise certain elements of their computations and they are working assiduously to complete that process.

“Once that is complete, then the timelines for final settlement can be determined such that all of the rightful beneficiaries are appropriately compensated,” the CEO told Barbados TODAY.

Inniss said that most of the beneficiaries have retired from the corporation.

Anthony Alleyne, the first claimant, complained on Tuesday that the case had been dragged out. He said three employees had passed and he felt as though somebody wanted to keep going back and forth with dates as long as possible when most of the beneficiaries who are in their 70s would also pass.

But in defense of the BADMC, Inniss said he wanted the matter concluded as much as the claimants.

“We are definitely working toward getting it done as quickly as possible. As much as they want it settled, we want this matter to be settled as well. I am going to push as much as I can to get it done before then, but I still have to give the professionals time to complete their work. We don’t want that somebody comes back to say they were missed and then there is a legal challenge to that,” Inniss asserted.

“It’s not just a case where you write a cheque and email it out. Some of these persons may have passed away, they may be probate matters that need to be dealt with. For some, it may be yes, by December 31, but I am a little uncomfortable until I know from the actuary what the timelines are, before I can say now that that has been resolved, we can work with the administrator to start the process of sending out that information,” corporation’s boss explained.

On March 15, 2016, three claimants led by Alleyne, filed an application for certain declarations and orders against the six defendants including the trustees of the pension plan. Among the 13 sets of relief cited, was that the action of the BADMC in ceasing to make contributions to the pension plan and/or the cessation of accrual of benefits under the plan, led to the plan being discontinued and/or terminated.

The claimants also sought a determination or declaration on how the funds and/or assets of the pension plan are to be dealt with and that they are not precluded from receiving benefits under the plan, even if they are entitled to a pension under the Statutory Board Pension Act.

Alleyne, who expressed frustration at the long drawn-out court proceedings, is anxious to have the money owed him and his colleagues disbursed before the New Year.

“I would hope that they could wrap up before the end of the year because I have a guy there who lost both of his legs and he went and got measured for his prosthesis and it cost a good piece of money. That would help him to defray the costs. I am probably the youngest out of all of them. I am 66 and the rest are up in their 70s and 80s. I would hope that somebody hears us and have some kind of leniency so we

could have a resolution to this,” the pensioner pleaded.

emmanueljoseph@barbadostoday.bb