GuySuCo delays proposal to send pensions to banks

May 03, 2018 News

The Guyana Sugar Corporation Inc. (GuySuCo) says that it has delayed the decision to forward pensions to the banks.
This followed the protests of pensioners recently.
GuySuCo said that it noted that the concerns of “valued” former employees, pensioners, and the corporation.
The state-owned corporation stated that it is still in the process of reviewing the proposed payment process for pensioners which requires that payment be made through the banking system.
The Corporation currently has on roll 6,868 pensioners who spread across estates and departments as follows:

“Additionally, the Corporation currently has in its employ, over 11,000 employees at Albion, Blairmont, Uitvlugt, La Bonne Intention Head Office and other locations; however due to increasing security concerns as well as the re-organising programme, measures are being implemented to better align financial systems in an effort to improve efficiency and minimize risks,” GuySuCo explained.
The corporation said that more information will be provided shortly on the review process to develop the m

Pensioners protesting recently the decision to send pensions to commercial banks.

ost appropriate and convenient payment system.

“In the meantime, pensioners are invited to contact the Human Resources Departments at the various estates and LBI Head Office for further information.”

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