Strategic Alignment in Pension Reform

The Office of the University General Counsel (OUGC) was crucial in advancing pension reform across the Five Islands Campus. This initiative highlights The UWI’s commitment to addressing staff concerns and ensuring legal compliance. The OUGC provided a comprehensive legal opinion to the University Finance and General Purposes Committee (UF&GPC) regarding pension arrangements for Administrative, Technical, and Service (ATS) staff. The reforms included extensive consultations with ATS staff, campus leadership, and Sagicor, the insurance provider. As a result of these discussions, it was agreed that the effective date for the ATS pension scheme would be August 1, 2024. Furthermore, the OUGC continued to emphasise critical issues related to the Federated Superannuation System for Universities (FSSU) framework, which aims to enhance regulatory oversight. The OUGC held several meetings with fund managers, the custodian bank, and investment firms to address the raised concerns. Following these discussions, steps were taken to initiate the formal registration process, thus strengthening the Fund’s compliance with jurisdictional requirements.