NIS pension increase leaving pensioners behind

Dear Editor,
A few days ago, the National Insurance Scheme (NIS) announced an increase in the rate of minimum pension from $32,100 to $35,000 per month. True to form, the FITUG has seen too the Government heralding the increase as a significant achievement. While the Federation is sure that those at the minimum level may be a little happy with the increase they have been given, at the same time, we wonder how much of a meaningful difference does this make to a pensioner’s well-being and standard of living. The increase, in fact, works out to less than a $100 per day, an insignificant sum when juxtaposed against the massive hike in the cost of living in recent times.
We had previously disclosed that the increase in the cost of food for 2019 up to the month of September was 6.3 per cent. Just taking into account that frightening reality, it clearly appears that the increase has been already significantly, if not completely, subsumed by the increased cost of food. But while the Government may well say those at the bottom level should be thankful for the small mercies they are receiving, we cannot ignore another reality that the big ones are well taken care of. We note too that those pensioners who receive in excess of the minimum have nothing to get.
Previously, it was the practice that pension increase was across-the-board; however, for some years, this practice has been discontinued. Essentially, those who through their long years of contributions to the Scheme received higher pensions have had their standard-of-living reduced since their pensions in real terms have now declined. This is disheartening for this group of Guyanese, in the golden years of their lives, which have realistic expectations to enjoy their days comfortably after their many years of hard work.
We are aware that the Scheme may argue that such practice is unaffordable especially at a time when it has lost thousands of contributors through the minimisation of the sugar industry and reduced formal sector jobs. This is a real problem which has to be addressed through the intervention of the policymakers who themselves have put the Scheme in the sad situation it finds itself in.
In the meantime, our nation’s pensioners continue to suffer while those in charge who have been described by Minister Noel Holder recently as the oldest Cabinet in Guyana’s history has been unsympathetic to their plight. It seems to us that those in charge have their bread well-buttered and have little care for the ordinary man and woman who continue to face difficult and trying times.

Sincerely,
FITUG