Old age pension increased to $46,000; public assistance now $25,000

Finance Minister Dr. Ashni Singh, in presenting Budget 2026 to the National Assembly under the theme “Putting People First,” announced increases in the Old Age Pension (OAP) and public assistance, along with a new support grant for elderly citizens.
Dr. Singh said that when the PPP/C administration returned to office in 2020, the OAP stood at $20,500 per month. By the end of the first term, it had been doubled to $41,000 per month. Effective January 1, 2026, the OAP will rise further to $46,000 per month. The increase will benefit approximately 95,000 pensioners, adding $5.7 billion in disposable income and bringing the total annual OAP payout to over $52 billion.
In addition, the government will introduce an annual Transportation Support Grant of $20,000 for each OAP pensioner. This measure is expected to inject an additional $1.9 billion into the hands of elderly citizens, supporting their mobility and daily needs. Combined with the OAP, the total annual transfers to pensioners will exceed $54 billion.
Dr. Singh also announced an increase in public assistance, which has risen from $9,000 in 2020 to $22,000 at the end of 2025. Starting January 1, 2026, public assistance will increase to $25,000 per month, benefiting more than 46,000 persons. The measure will provide an additional $1.7 billion in support, bringing total public assistance payouts for 2026 to nearly $14 billion.
These measures are part of the government’s ongoing effort to provide targeted support to the elderly and most vulnerable citizens, in line with the administration’s consultative approach to social welfare.