Public officers and employees of state-owned enterprises (SOEs) are reminded that the sensitization meetings on the Barbados Optional Savings Scheme (B.O.S.S.) will continue tomorrow, Wednesday, June 3.
The meetings, which will be held from 9:30 a.m. to 12:30 p.m.; 1:30 to 4:30 p.m.; and 5:00 to 8:00 p.m., will be held at the Wildey Gymnasium.
Public officers and employees of SOEs, including those at the clerical, technical and administrative levels, are urged to attend the sessions and have their questions answered, so they can make informed decisions about B.O.S.S. They may attend the sessions whether they are or are not members of trade unions.
Prime Minister Mia Amor Mottley will participate in the sensitization sessions, as she did on Tuesday. The meetings will be live streamed to allow for participation of those who cannot attend, because of work commitments, and to facilitate any questions that they may wish to pose.
The Transport Board will provide a paid service to take persons attending the meetings from the Garfield Sobers Gymnasium to Bridgetown at 12:30 p.m., 4:30 p.m. and 8:00 p.m., each day.
The SOEs will include: the Rural Development Commission, the Urban Development Commission, the Barbados Revenue Authority, the Child Care Board, the National Assistance Board, the Queen Elizabeth Hospital, the Barbados Water Authority, the Transport Board, the Caribbean Broadcasting Corporation, the National Conservation Commission, the Sanitation Service Authority, and the Barbados Port Inc.
The objectives of BOSS are to create approximately $100m fiscal space for capital spending; protect public sector employment; and adhere to the principle of burden sharing – being our brother or sister’s keeper – by allowing investment to facilitate the creation of more jobs.
It is a four-year bond with a five per cent interest rate per annum, payable semi-annually, with the principal being paid four years from the date of the bond. There will be no withholding tax on the interest earned and the bond is fully tradeable.