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Minister of Finance Davendranath Tancoo is encouraging public servants to save as much as possible as they get their back pay.

Speaking to Newsday via phone on December 20, Tancoo said, “I’m hoping members of the PSA who received their partial back pay will be reviewing their financial status and making sure they save some for rainy days. Prices are going up, etc. Anybody who gets extra income, whether by gambling or by benefits via negotiations for wages and salaries, should be looking to save a substantial part of their money for retirement or for future generations.”

On December 2, the Public Service Association (PSA) and Chief Personnel Officer (CPO) Dr Daryl Dindial signed a memorandum of agreement listing the conditions of the agreement, which included a ten per cent wage increase, new salaries in January and an advance on arrears on or before December 23.