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Safeguarding private pensions in Caribbean countries

Professor Davis’ research has resulted in comprehensive pension reforms in 5 Caribbean countries (Bahamas, Barbados, Guyana, Jamaica, and Suriname) and thus increased retirement income security for vulnerable people in old age.

The research has improved pension fund regulators’ ability to calculate risks and take appropriate action when detecting difficulties in individual funds or the entire sector.

Accordingly, these reforms have increased the scope for prospective retirees to be financially independent and cared for in old age, not least given favourable related developments such as rises in pension fund assets in Jamaica (which has seen a 6% increase of pension fund assets) and in the registration of funds with the supervisory authorities in Barbados (which now has 96% fully registered pension plans).