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It is estimated that in the next 28 years about half of Barbados’ population will be over the age of 65, and one development management specialist is warning that this could be devastating for the economy and its pension scheme. Also worrying she said, is the fact that non communicable diseases could potentially remove people from among the workforce earlier than anticipated.Diane Quarless, Director at the Economic Commission for Latin America and the Caribbean (ECLAC), said it was critical for government to put measures in place to ensure its national insurance scheme will be able to meet t...

Barbadians and other Caribbean nationals could face having to pay higher pension contributions and receive reduced pension if drastic reforms are not urgently implemented to the region’s national security schemes to solve the issue of an ageing population and lower birth rates.This was one of the observations coming out of the Caribbean Economic Forum on Thursday evening, hosted by the Central Bank of Barbados on the topic “Solving the Ageing Population Crisis in the Caribbean”.Derek Osborne, Partner and Senior Actuary at LifeWorks in the Bahamas, said while some countries such as Barbad...

Mark Theodore Lawyer Proskauer Labor Employment Law in the Los Angeles office traditional labor law matters throughout the U.S.