{"id":34318,"date":"2013-04-12T09:14:15","date_gmt":"2013-04-12T13:14:15","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=34318"},"modified":"2013-04-12T09:14:15","modified_gmt":"2013-04-12T13:14:15","slug":"city-market-pension-trickery-sparks-outrage","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2013\/04\/city-market-pension-trickery-sparks-outrage","title":{"rendered":"City Market Pension Trickery Sparks Outrage"},"content":{"rendered":"<figure id=\"attachment_20102\" aria-describedby=\"caption-attachment-20102\" style=\"width: 200px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-20102\" title=\"city-market\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/city-market.jpg\" alt=\"\" width=\"200\" height=\"150\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/city-market.jpg 200w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/city-market-150x112.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-20102\" class=\"wp-caption-text\">City Market<\/figcaption><\/figure>\n<p>\u201cOutraged\u201d former City Markets employees vowed to hold \u201ca massive demonstration\u201d on Bay Street in protest at attempts to transfer the defunct supermarket chain\u2019s pension plan trust to a new company.<\/p>\n<p>Whanslaw Turnquest, the former City Markets inventory control officer, who has assumed the role of chief spokesperson for the former staff, accused the Bahamas Supermarket Retirement Trust\u2019s trustees of employing \u201ctrickery tactics\u201d in trying to get ex-employees to agree to the asset transfer.<\/p>\n<p>He told Tribune Business that the consent of former staff had been sought to transfer their pension assets from the existing trust to a new limited liability company, the Bahamas Supermarkets Retirement Plan Ltd.<\/p>\n<p>In exchange, Mr Turnquest said the employees were being given share certificates in the new company, which were said to be equivalent in value to their vested pension sum.<\/p>\n<p>Admitting that he had initially told former City Markets staff to sign-up to this proposal, Mr Turnquest told Tribune Business he had been misled.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former employees of the failed City Markets chain are outraged over the defunct company&#8217;s trick to transfer the pension plan trust to a new company.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[153,210,98],"class_list":["post-34318","post","type-post","status-publish","format-standard","hentry","category-business","tag-business-2","tag-employees","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/34318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=34318"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/34318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=34318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=34318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=34318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}