Showing posts with label golden parachute. Show all posts
Showing posts with label golden parachute. Show all posts

Monday, June 18, 2018

Port Authority of Jamaica - Pension Double Standards



Many may remember the 2016 report of Paula Monroe-Ellis, the Auditor General, that uncovered how the Port Authority of Jamaica's board members authorized outrageous multi-million dollar "golden parachute" pension payments to three senior officers with one receiving over $146 million dollars in pensions and gratuity. These officers had initially been entitled to pricey pension packages when the board disregarded government guidelines and approved exorbitant multi-million dollar payouts to their colleagues. Furthermore, the auditor's report uncovered that this same board at the Port Authority of Jamaica under the leadership of Messrs. Hilton and Shirley authorized payments of over $15 million in gratuity to other senior officers. However, while the decision makers at Port Authority of Jamaica did not hesitate in authorizing multi-million dollar pension increases to their equals, pension increase requests of low income level retirees do not stand a chance of any consideration although these retirees can barely survive on the minimum pension payments as they struggle daily with the constant rising costs of living. Port Authority of Jamaica's CEO and also the vice president of Human Resources' reasoning for denial of pension increase in one particular case is that the employee signed a pension contract, so the retiree is bound by the signed document. Yet, this frivolous reasoning did not seem to apply to those senior officers who were given multi-million dollar increases although they too signed and were bound by an initial pension agreement. The curt, unsympathetic response from the Port Authority of Jamaica's executives to the retiree's pension increase request is an example that in Jamaica there still exists a blatant disregard for those with no influence while systematic class-based preferential treatment continues to be shelled out to the connected and affluent.
Senior Port Authority Officers Get Multimillion-Dollar Payments To Which They Are Not Entitled

Wednesday, July 27, 2016

Noel Hilton and Cronies Need To Answer To Multi-Million Payouts


Here we go again with white collar criminals!! The Jamaican public needs answers immediately from the Port Authority's Board-of-Directors, specifically Noel Hylton, Chairman-of-the-Board, as to why they disregarded government guidelines and approved multi-million dollar  payments to senior officers who were not entitled to such outrageous retirement benefits plus gratuity. In addition to gratuity of $31 million, one senior officer on contract received  three  pensions which includes one valued at $56 million, another for $554,164 U.S. dollars, and a third offered in a lump sum of $120,000 with monthly payments of $34,834. It is unbelievable and an injustice that one man receives three pensions when there are so many retirees from the Port Authority of Jamaica who are barely surviving on the pittance that they are offered for retirement after giving so many years of dedicated service to the government entity. In addition, many workers at the Port Authority now can hardly survive on their monthly salaries. Yes, Mr. Hilton and his board members need to account for why they found it acceptable to shell out multi-millions to 14 senior officers. The board has changed through the years but what has remained consistent is that Noel Hilton, at 80 something years old, continues to hang on to the Chairman position. It is well past time for a new chairman at Port Authority of Jamaica.  These white-collar criminals have no conscience, and they need to be arrested!