Jamaica tourism pension scheme hits $6 billion milestone

Jamaica’s Tourism Workers Pension Scheme (TWPS) has surpassed $6 billion in accumulated savings, with more than 10,800 workers currently registered. Minister of Tourism Edmund Bartlett announced the milestone during a media breakfast at the Jamaica Product Exchange (JAPEX), noting that UN Tourism has identified the scheme as a potential global model for the tourism industry.

The scheme was established to provide a social safety net and financial security for tourism employees. In addition to pension growth, the government is advancing plans to redesign parts of Montego Bay, including its waterfront and the Freeport area. This urban redevelopment project, which aims to reimagine the destination, will be overseen by the National Reconstruction and Resilience Authority (NaRRA) in coordination with the Urban Development Corporation and the Port Authority of Jamaica.