I'm in my early 30s. I have always been and will always be a patriotic Jamaican. Recently, I had reason again to think about that day when I will retire. I am working hard and saving as I should, but what will my pension be?

I'm sure many Jamaicans from time to time face this question. Now considering what the Government offers through the NIS programme, why would any reasonable, self-respecting, degree-earning Jamaican want to stay in this country, only to suffer in their old age when they should be relaxing? Certainly, this contributes more to the brain drain than any other factor as most immigrants plan to retire on 'the rock' anyway with a nice foreign pension.

living with dignity

I hope the prime minister takes time from his busy schedule to consider that not all members of society continue to receive their full salary upon retirement, and subsequently, consideration must be made for the population to allow them to continue to live with dignity upon retirement. It is ridiculous to expect that $12,500 (an electricity bill for many a family) per annum could possibly be invested in any way, shape or form to lead to any respectful returns upon retirement.

It would be unfair to come with only the problem and not even offer a solution. Why not try the following? The hole in the Budget needs filling (and it always will), the Government is offering 30-year bonds at 23 per cent per annum, why not start a new NIS, where up to 10 per cent of one's salary could be contributed (untaxed) to help fill the Budget and the returns paid as pension? Naturally, it would not be for 30 years but up to retirement. So some persons would have invested for only 10 years while others would invest for 50 years. Statements would be available electronically or upon request, and the existing NIS agency restructured to monitor the operations.

All employed/self-employed Jamaicans would be contributing to closing the deficit while ensuring that they can relax when they retire. This would save the Government billions eventually, as we always have more people working than retired and the excess would be a loan to the Government, working for us the people. Certainly, there are bugs to be worked out, but doing nothing is the real big bug. And that needs to be squashed!

I am, etc.,

ROBERT HOWELL

roberthowelljm@yahoo.com

Ottawa Avenue, Kingston 7