The Agricultural Development Bank of Trinidad and Tobago is considering the setting up of a pension scheme.
It was revealed the ADB’s past management thought the move would have been too expensive.
However, the new management of the ADB is putting things in place on this matter which will be passed on to the bank’s Board.
He said the Auditor General Office has given advice for the scheme to be established.
These points were made public by Corporate Manager, Finance and Administration at the ADB, Gleason Garroway, while speaking at an inquiry into the Audited Financial Statements of the institution for the financial years 2014 to 2018 at a Meeting of the Public Accounts Committee Wednesday.
However, Chairman of the PAC, Dave Tancoo, said the scheme is a requirement of the law and an act of parliament and he is concerned the pension scheme has been ignored for so long.
Garroway was asked when the scheme will be set up to which he responded by the end of this financial year.