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LATEST CORONA VIRUS INFO – OFFICIAL STATS AND MAPS

Energy Minister Addresses Petrotrin Pension Plan.

by | Nov 20, 2018

Minister of Energy and Energy Industries, Franklin Khan, speaking in the Senate today said the Petrotrin Employee Pension Plan being fully funded, was only the case when the company and the PPP were ongoing entities.

He noted that the restructuring of the Pension Plan and the termination of all employees changes everything, in that benefit payments are accelerated significantly by the early retirement of all qualifying members.

Minister Khan said it is not possible to wind up the PPP and secure benefits by buying annuities as suggested by Republic Bank because the insurance market has no way near sufficient capacity.

 

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