Finance minister must speak up
Prior to the General Elections of 2013, the president of the Barbados Association of Retired Persons commented on the fact that pensioners were being taxed and suggested that the party elected to govern should do something about it.
Prior to the recent Estimates Debate, another official of BARP spoke on the matter saying that it could be liken to “double taxation”.
I am adding my voice to those who have spoken before to say that sometime during the upcoming Budget Debate, I expect the Minister of Finance to make a statement that:
1) Stops the taxing of pensions.
2) Prevents anyone from referring to pension as income.
3) Includes appropriate amendments that guarantee pensioners full benefits from all pensions to which they have contributed.
4) Makes it unlawful to penalise pensioners who have contributed to private pension plans simply because they were also contributors to the National Insurance Scheme.
— Michael Ray