(CMR) The Government is considering an extension of the pension holiday, which is expected to end on 30 June, Premier Hon. Wayne Panton revealed during Premier Access with Sandra Hill on Wednesday evening, 22 June.
Mr. Panton said he was looking at another three months break. He said the pension holiday implemented to help employees and businesses cope with the financial setbacks caused by COVID-19 had benefited many people.
“We may make that decision, but I struggle with it because we've had a national pension system that really isn't fit for purpose. It doesn't address the needs of the people in a number of ways,” he said.
The premier said pension reform is necessary and is on the agenda of his administration.
An announcement regarding the extension of the pension holiday could be made next week.