Millions of dollars deducted from staff of the Georgetown City Council have not been remitted to their pension schemes.
Ewort Adams, Deputy Managing Director of Insurance Brokers Guyana Limited, told the Commission of Inquiry (CoI) into the city’s operations that they have not received a pension remittance from the city since February, 2017.
The city now owes approximately $14.5 million for the period March, 2017 to September 28, 2018 based his calculation on the last submission of the council in February, 2017, which was $776,523 and the assumption that every other month would have incurred similar contributions since no one has been added to the plan since.
