Advancement made in digitising pension administration
KINGSTON, Jamaica – The Ministry of Finance and the Public Service has made significant strides in the digitisation of pensions administration.
The digitisation initiative aims to ensure a seamless and efficient retirement transition for public sector workers while maintaining the sustainability of pension arrangements.
Speaking recently with JIS News, Strategic Planning and Stakeholder Engagement Manager in the ministry, Kimorley Humphrey, who deals specifically with the Pensions Administration Branch, explained that the digitisation process, which began in 2018, is far advanced.
“The ministry has worked in incremental phases to modernise systems and streamline pension processing. Digitising the pensions administration process is part of our strategy to ensure efficiency and accessibility for our public sector workers. We are leveraging best practices to make the retirement transition smoother,” he said.
Humphrey noted that the ministry is committed to continuous improvement in the pensions process.
“Between this time and the next financial year, the process itself will be enhanced, and we continue on that trajectory until we will digitise the entire process from end to end,” he said.
Humphrey told JIS News that the ministry wants individuals to know more about the Pensions Administration Branch, which plays a crucial role in overseeing pension arrangements across Government agencies and statutory bodies to ensure sustainability and guarantee employee benefits.
“What we do, we actually guide persons, especially those persons within the public sector, to a smooth transition into retirement,” he pointed out.
“We…monitor these pension arrangements to ensure that the pension plan is sustainable and prevent the plan from getting into a deficit. We provide that oversight to ensure that public sector employees are guaranteed their pension into life after work,” Humphrey said.
– JIS