Cable & Wireless Jamaica says its Board has approved a proposal from a cross functional Task Force examining the CWJ Pension Plan, to review a proposed distribution of the surplus in the Plan.
The Consulting Actuaries have advised the Plan's Trustees and CWJ, that the value of the assets are sufficient to adequately fund the distribution of surplus without jeopardizing its solvency.
Consequently, the CWJ Board has approved the recommendation of the Task Force to distribute a portion of the assets equally to members and CWJ.
It will also distribute any additional surplus after the provision for Future Employers’ Contributions.
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