Over 9 million paid in severance as of December 2020 in SKN

Over 9 million paid in severance as of December 2020 in SKN

That was Minister of Labour, Senator the Honourable Wendy Phipps, speaking during the Nation Budget Debate in the National Assembly on Thursday, December 17th.

Minister Phipps revealed these statistics while lending her support to The Appropriation (2021) Bill, 2020.

To facilitate the payment of these claims, Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris, on October 28th announced that the Team Unity administration provided additional resources in the region of $11.1 million to capitalize the Severance Payment Fund as part of its $120-million stimulus package.

Minister Phipps went into further details regarding the processed and paid out severance claims as of Monday December 14th 2020.

Minister of Labour, Senator the Hon. Wendy Phipps.

To further assist the matter of severance payments going forward, Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris, announced the injection of additional resources of around $7 million to further capitalize the Severance Payment Fund and facilitate the payment of severance claims in 2021.