Comments on: $7.7 Million Saved: Voluntary Early Retirement

By: justin

justin — Fri, 02 Oct 2015 03:47:02 +0000

I guess this is where we get to the ‘not illegal but unethical’ point in the argument, isn’t it?

Simple fact, how much were we, Bermuda, in debt prior to the PLP and how much were we in debt after the PLP. How did we get there?

Cricket….Cricket….

By: justin

justin — Fri, 02 Oct 2015 03:43:48 +0000

I never said he did, but they couldn’t have done it without him… Duh!

By: Observer

Observer — Thu, 01 Oct 2015 18:14:51 +0000

You carry on and on about Hanbury probably because he is an expat but you conveniently overlook the fact that the CEO of the Bermuda Monetary Authority is a Bermudian who gets a base salary of $500,000 per annum plus bonus. Where do you think that money comes from?

By: Observer

Observer — Thu, 01 Oct 2015 18:14:51 +0000

By: Onion Juice

Onion Juice — Thu, 01 Oct 2015 14:33:06 +0000

More money for the BTA gift club.

By: Yes

Yes — Thu, 01 Oct 2015 13:51:10 +0000

A dead horse

By: Onion Juice

Onion Juice — Thu, 01 Oct 2015 12:52:57 +0000

If Scotland Yard couldn’t find no wrong then its a done deal, on the other hand SpongeBob spent $800 million in less then 2 years.
Mmmmm

By: Cranberry

Cranberry — Thu, 01 Oct 2015 11:37:23 +0000

You’re….

By: Cranberry

Cranberry — Thu, 01 Oct 2015 11:35:44 +0000

Lots and lots could be saved… But if you remember the OBA promised NOT to shrink the public service by redundancies etc and rather allow natural attrition and early retirement. Draw your own conclusions….

By: umok

umok — Thu, 01 Oct 2015 10:58:49 +0000

He didn’t do that by himself.

By: Vote for Me

Vote for Me — Thu, 01 Oct 2015 09:56:10 +0000

Thanks for the clarification – your rationale appears to be sound. The release should indicate the total number of people who have taken early retirement, to match against the cumulative $7.7m savings.

Your greater point is interesting. If they do not have to be replaced, what were they doing in the first place. The reality is that they chose to retire. It is therefore unlikely that government is being strategic in deciding who should retire to get greater efficiency?

By: Coffee

Coffee — Thu, 01 Oct 2015 09:09:26 +0000

George Bush 1 , Sam Donaldson .

By: onion

onion — Thu, 01 Oct 2015 06:43:41 +0000

The OBA know that a default is inevitable, they’re just trying to limit the fallout by staying in power after the next election. This might not be possible if they actually did what everyone knows is necessary to reduce government expenditure, i.e. massively cut CS wages and/or numbers.

By: somuchless

somuchless — Thu, 01 Oct 2015 00:43:15 +0000

Thank you. Tourism numbers decline and he still gets paid big bucks with a bonus.

That is something every local should be speaking up about.

By: justin

justin — Thu, 01 Oct 2015 00:09:10 +0000

Bill Hanbury played a vital role in getting the Americas Cup here. In my eyes his salary is justified for the next five years just based on that accomplishment.

Instead of moaning about a few hundred thousand you should be focused on the missing $800m missing from the PLP days .

Move on, nothing to see here…

By: justin

justin — Thu, 01 Oct 2015 00:04:33 +0000

Bingo!

By: Acegurl

Acegurl — Wed, 30 Sep 2015 23:50:44 +0000

Why should people shut up about Hanbury, it is daylight robbery that one individual is paid so much money with no accountability. In addition how much of this money will actually be retained locally. People have a right to speak up about his exorbitant pay package in light of government cost cuts. Talking of shutting up…why don’t you?

By: In Babylon

In Babylon — Wed, 30 Sep 2015 23:17:09 +0000

If the PLP win the next election there will be massive layoffs in the Civil Service.

By: Onion Juice

Onion Juice — Wed, 30 Sep 2015 22:44:30 +0000

NO, we will flog this Hanbury scam for what it is.

By: kangoocar

kangoocar — Wed, 30 Sep 2015 22:43:29 +0000

@keepin, totally agree, that is why I have not had one $ of debt for 8 yrs and have bought as much gold and silver as I can ever since!!! To all those that have lived in obliviance or those that throw money away on tickets to such stupid things as that insect that was brought into this island to spew his hatred, and actually applauded him??? I have no problem in saying, I have no compassion for them when all safety nets are gone.and that day is now coming real soon!!!!

By: kangoocar

kangoocar — Wed, 30 Sep 2015 22:36:28 +0000

Please explain your latest post of nonsense?? Even I can’t figure out what you are saying or implying with that one???

By: Coffee

Coffee — Wed, 30 Sep 2015 22:29:55 +0000

Blame the republicans for removing the safety nets from the Bermudian economy….

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Wed, 30 Sep 2015 22:21:36 +0000

The warnings have been given…The heeding of said warnings were ignored…passed off as conspiracy theories…I’ve said numerous times that Bermuda hasn’t bounced back because we haven’t hit bottom yet…but finally I can see the bottom coming fast…but it’s too late…A new currency system will for sure lock your shackles.

Stay tuned for the eradication of ALL debts…and ALL credits.
Y’all want equality huh?…you’re gonna be sorry you asked for that…

By: NCM

NCM — Wed, 30 Sep 2015 21:03:47 +0000

It says in the press release: “The Cabinet Office introduced the voluntary early retirement scheme as a cost-saving measure in 2014 and the salary value of those departing on September 30th is $1.5 million. The Government has realised a cumulative salary savings of $7.7 million dollars from the voluntary early retirement programme.”

So this latest round of 19 people taking early retirement will save $1.5 million (average salary of approx. $79,000) and with all those who have taken early retirement since 2014 $7.7 million has been saved.

The interesting question is, if these people don’t need to be replaced (which is a condition of those applying for early retirement being accepted) then why did they need to be employed in the civil service in the first place? I.E. there should be no change in Government services with these folks gone. Kinda makes you wonder how many more millions could be saved…

By: kangoocar

kangoocar — Wed, 30 Sep 2015 19:34:01 +0000

19, that’s all??? At this pace, Larry Burchall will prove himself correct when he states, the Bermuda government will run out of money in July 2017!!! I have now resigned myself to that fact and fully realize that it will not be until that date when the government can’t pay its commitments that we finally wake the heck up??? Borrowing more money to avoid the default situation will only downgrade us more to the point that the IB sector will be dangerously close to not being able to LEGALLY operate in BDA! Then what????

By: Terry

Terry — Wed, 30 Sep 2015 19:11:34 +0000

7.7 Million.

Your typing too fast to figure this one out.

Have a rum and tink………………

By: Tania Stafford

Tania Stafford — Wed, 30 Sep 2015 18:48:10 +0000

are you one of them Terry?

By: Fed Up Bermudian

Fed Up Bermudian — Wed, 30 Sep 2015 18:45:57 +0000

There is a hiring freeze on all non-essential workers at the moment, so no- they won’t be replaced, as my understanding of it goes.

By: Terry

Terry — Wed, 30 Sep 2015 18:10:31 +0000

It’s called getting rid of dead wood.

People that just show up after working 40-50 years and do *****

Many of those around.

By: Hmmm

Hmmm — Wed, 30 Sep 2015 18:01:27 +0000

Vote for Me,, that’s exactly what I was thinking is this 7.7 million a year (if so someone is being paid far too much)… or is it calculated over the years that employees could have still been working?

By: Ignorant

Ignorant — Wed, 30 Sep 2015 17:59:35 +0000

WILL PEOPLE JUST SHUT UP ABOUT BILL HANBURY AND MOVE ON

By: somuchless

somuchless — Wed, 30 Sep 2015 17:54:51 +0000

While 280 thousand is spent on hanbury. I guess that is what they want.

By: WV

WV — Wed, 30 Sep 2015 17:22:47 +0000

lets see serious moves to save money

By: Vote for Me

Vote for Me — Wed, 30 Sep 2015 17:01:11 +0000

This is an interesting headline.

Will any of the retirees be replaced? Also how many years income is taken into consideration in calculating the savings and what is the impact on the pension plan for the early retirement.

I think this is good news but will be interested in knowing a little more facts.

By: Jus' Askin'

Jus' Askin' — Wed, 30 Sep 2015 16:58:49 +0000