Government insolvency option, pension push, and strong June 29 market turnover

Government insolvency officials have promoted a framework they describe as eminent insolvency, offering persons facing serious debt up to 12 months of breathing room while creditors are approached on their behalf.

Fyola Evans Roberts, supervisor of insolvency, and Gabrielle Mono of the Office of the Government Trustee outlined the option during a webinar held in observance of World MSME Day. They said individuals struggling to meet payments on debt exceeding $300,000 may contact the Office of the Supervisor of Insolvency to seek negotiated arrangements with lenders. The OSI and OGT are the agencies responsible for helping individuals and businesses work through debt difficulties.

The session was hosted at the Small Business Association of Jamaica offices on Two Trafalgar Road and also included Natalie Odoyne, senior director of the MSME division at the Ministry of Industry, Investment and Commerce.

Separately, Peta Rose Hall, manager at BPM Financial, has called for a phased increase in retirement savings contributions. Speaking on Monday, she recommended raising the average contribution to approved retirement schemes from 10% of an employee’s salary to 12%, with employees and employers each paying 6%. Hall noted that although tax relief is available on contributions up to 20% of salary, current saving levels leave many retirees exposed to longevity risk, where pension funds run out before the end of life. She also highlighted that fewer than 20% of Jamaica’s roughly 1.4 million workers are enrolled in approved retirement schemes, deepening the country’s savings gap. She pointed to similar debate in the United Kingdom, where pension specialists have pressed for minimum contributions to rise from 8% to 12% of earnings.

On the Jamaica Stock Exchange for the trading period of June 29, 2026, Trans Jamaica Highway Limited led activity with 17,927,190 units traded, representing 31.31% of market sales. Sagicor Select Funds Limited Financial recorded 5,228,693 units, or 9.13%, while Jamaica Teas Limited saw 4,384,494 units, accounting for 7.05%. Trading remained concentrated in transportation and distribution securities, reflecting sustained interest in dividend-paying and strategically positioned assets.

In the foreign exchange market, Bank of Jamaica data for June 29 showed active trading and firm demand across major currencies. The US dollar sold at J$158.22 and was bought at J$156.36. The Canadian dollar sold at J$113.22 and was bought at J$106.03. The British pound continued to show volatility, offering short-term trading opportunities amid wider spreads. Analysts say such movements underline the need for careful cash-flow timing and currency planning for businesses managing imports, debt servicing, or overseas exposure.