Gov’t to Pay New Pension Rates In April
By: , March 31, 2016The Key Point:
The Facts
- Approximately 35,000 pensioners including spouses and dependents paid by the Accountant General Department and other paying agencies (Parish Councils and Statutory Bodies) will be eligible for the increased rates.
- Widows/widower will receive an increase of $14,400 per annum or $1,200 per month, while dependents will receive an increase of $20,400 per annum ($1,700 per month).
The Full Story
The Government is to pay the new rates for pensioners starting April 2016.
Minister of Finance and the Public Service, Hon. Audley Shaw, who made the disclosure during the sitting of the House of Representatives on Tuesday (March 29), said the payments will be retroactive to July 2015.
Approximately 35,000 pensioners including spouses and dependents paid by the Accountant General Department and other paying agencies (Parish Councils and Statutory Bodies) will be eligible for the increased rates.
The increase is in keeping with Cabinet Decision No. 31/91 dated July 8, 1991, which agreed that that there should be regular annual increases to pension benefits to assist with alleviating the escalation in the cost of living.
The increased rates, which are effective July 2015, range from $1,100 per month for pensioners receiving $60,000 per month and $2,000 per month for pensioners receiving under $30,000 per month.
Widows/widower will receive an increase of $14,400 per annum or $1,200 per month, while dependents will receive an increase of $20,400 per annum ($1,700 per month).