TT Pensioners owed millions

Is our state-sector reducing its retirees to begging?

If you  work for Petrotrin, or anywhere in the public sector, here’s something for you to worry about: over 200 retirees of the state-owned oil company have been reduced to begging the company for outstanding pension monies. Should you be disturbed? Well, Petrotrin seems to have developed a culture of treating its retirees with contempt. What is worse, the state enterprise is not alone! There is evidence to suggest that thousands of former state-sector employees are receiving incorrect pensions.
Over the years, large numbers of the energy giant’s retirees have been trying, in vain, to have the company look into the issue of incorrect and miscalculated pension payments. Some of them have died trying to obtain monies owing to them. Among those that remain, some of them have been made to endure serious hardships as the cost of living continues to rise steadily, making survival harder than ever for these men and women who served their country in what is considered a “strategic industry.”

Under one of the company’s pension plans, the retirees were promised a four percent increase in their pensions every three years after assessments conducted by an actuary and negotiations between the respective parties. But Petrotrin officials have not been living up to their end of that agreement, resulting in untold hardship for many seniors.

According to one retiree, Frankie Mc Guire, representatives of the Oilfield workers Trade Union (OWTU) have made numerous attempts to meet with Petrotrin officials to discuss the proposed increases, but all scheduled meetings have been postponed by Petrotrin with no explanation from the company.

The retirees are now accusing the company of resorting to open victimization as they press on in getting what belongs to them: Last year’s dismissal of OWTU Trinmar Branch President Ernesto Kesar has been cited as one example of the company’s new policy of victimization aimed at anyone who seeks pensioners’ interest.

The postponement of meetings , and the dismissal of Kesar are just two examples of the state-owned oil company treats its former employees who played a significant role in building this country’s energy industry.

Also, Petrotrin retirees are not alone! The problem of incorrect pension payments seems to be a national one. There are countless other retirees from the state-sector facing issues related to the incorrect calculation of their pensions.

Like the Petrotrin retirees, they also face a brick wall when they try to get the relevant departments, or the Ministry of Finance to look into the issue. Many have died, and most surviving pensioners have simply given up, tired of fighting.

There is one ray of hope for these elders, however: Some of them are hoping that, with the approach of yet another crucial general election, other citizens approaching retirement age would take pre-emptive action and put pressure on the public sector (especially Petrotrin) to do the right thing.

The Petrotrin retirees are now calling on all citizens, particularly those affected by incorrect calculations, and public sector workers nearing retirement, to help them lobby current and aspiring political representatives. After devoting their lives to building this country, TT's seniors deserve better.