Jamaican Minister In Favor of Private Pensions Industry
The Minister without Portfolio in Finance and Public Services in Jamaica, Fayval Williams, expressed herself in favor of an alleged potential for the private pensions industry.
In her opinion, this variant could stimulate sustainable economic growth; however, in several countries such as Colombia, Spain or South Africa has generated scandals, because non-state funds have gone bankrupt and taxpayers lost all their savings.
According to the official, pensions represent an asset of approximately 521 billion dollars (until December 2017), which is equivalent to 25 percent of gross domestic product.
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