Home News Over 59,000 pensioners benefiting from Govt’s pension increase
Some 59,500 pensioners across the country are now benefiting from the Government’s $25,000 per month old age pension.
Director of Social Services at the Ministry of Human Services and Social Security, Mr. Whentworth Tanner, revealed that the pension population increased from 56,000 in 2019 to about 59,500 at the end of 2020.
In an interview with the Department of Public Information, Tanner said the Ministry has been working to digitise the old age pension system.
To date, he said, over 100 pensioners have been receiving their monthly old age pension through the commercial banks.
“…In fact, that is another programme I am hoping that in 2021 more pensioners will utilize, taking into consideration they have an existing bank account…Of course the option is available to our pensioners, and it is for them to choose that option,” Tanner said.
Once a pensioner chooses this option, the first month pension would have to go through a verification process, which can take up to three weeks. Thereafter, it will be available during the first week of the month.
Additionally, subject Minister Dr Vindhya Persaud, in a recent interview with DPI, said the option would be available for persons to uplift their pensions at Western Union and other money transfer establishments closest to them. The sums would be delivered to those who are shut-in.
This, she said, would eliminate the need for persons to travel far distances to wait in long queues at post offices.
Effective from January 1, 2021, old age pension increased from $20,500 per month to $25,000 per month. This provision was made in the 2020 Emergency Budget.