The two-year wait by severed workers of Caves of Barbados Limited (CBL) for pension payments should end in days.
Chairman of CBL Ralph Thorne, KC said on Wednesday night that arrangements will be finalised within that time.
“Within a matter of days, the ex-employees will be invited to exercise, in writing, their individual options as to the manner of disbursement that they will choose. In addition, in a matter of days, arrangements will be finalised for the payment of back pensions,” he told Barbados TODAY.
“This is a financial transaction that pertains to the ex-employees for a long time into their future and I am sure that they will wish to have it properly done.”
Thorne’s disclosure came in response to Deputy General Secretary of the National Union of Public Workers (NUPW) Wayne Walrond who had earlier in the day criticised the company’s delay in settling the pension claims.
Walrond told Barbados TODAY the NUPW was “extremely disturbed” that after two years, the former employees of the National Conservation Commission (NCC) who had transitioned to CBL and were severed from that company were yet to receive their pensions.
“The NUPW finds the situation scandalous, vexatious and [that it] imposes undue hardship on these workers who have been without an income for over two years,” he said.
The union official, therefore, appealed to CBL and all relevant authorities to settle this issue urgently.
He said the NUPW was informed that the workers had signed documents with a former insurance provider for their pensions and gratuity, but to date have only received gratuity.
“The NUPW is advancing that had these workers remained with the National Conservation Commission under the provisions of CAP 384, they would have received both their pensions and gratuity within a normal period of six months,” Walrond contended.
But in acknowledging the long delay in having the pension pay resolved, Thorne defended the process while expressing concern at the way the matter was being allowed to play out in public.
“It is a matter of some considerable regret that this matter of confidential financial entitlements must again be ventilated in the media in this way by the ex-employees.
“I will, nevertheless, continue to respect the ex-employees’ rights to confidential and dignified treatment of this matter by merely disclosing that they have already received substantial amounts in gratuity, without disclosing the specific amounts publicly,”
Thorne told Barbados TODAY.
He said the process is managed on CBL’s behalf by an actuary.
“She has been actively engaged with our CEO in the various necessary exchanges and transactions between different agencies. I can say to you, for example, that on January 23rd, 2023 the Financial Services Commission gave its approval for the scheme,” he stated.
The CBL chair said there has been, and continues to be, much work between the actuary and the insurance company towards the final implementation of the pension scheme.
He said this was happening “while the ex-employees choose to ventilate their private business in the public domain”.
“We feel it necessary to bring these exchanges into a dignified private space and I have, therefore arranged, to meet with their trade union representative, Mr Wayne Walrond, and the actuary at NUPW next week, which is the date of earliest convenience for Mr Walrond,” Thorne disclosed.
Chukka Caribbean Adventures (Barbados) Ltd (Chukka), a leading Jamaican nature adventure tour company, took over management of the day-to-day operations of Harrison’s Cave from CBL on December 1, 2020.
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