Dear Editor
It has been nearly 6 months since the pension was increased to $72,000 per year and Public Assistance was also increased.
While I am sure that more pensioners are better off than they were one year ago there may be a need to further add to their well-being by giving them a one-off boost of $25,000 to $50,000 each so that they can afford the rising cost of living. This will cost the Government $1.75Bn but it would be money well spent as it does not contribute to inflation.
The Grow More Campaign may help workers but would not necessarily be taken on by pensioners due to the hard work of farming. So, pensioners need to rely on the generosity of the Government of the day unless they are prepared to work part-time to supplement their pension.
I would also suggest that the Government look at raising the NIS contributions from the current 5.2% to 10% and reduce Personal Income Tax from the current 33.33% to 30%. This will provide the Government with monies that it can spend/invest in businesses to generate growth of pensions.
At the same time, I would like to urge pensioners to consider banding together (about 20) and forming a business, or buying a business (like shops) as they already have life experience (which includes finance management in the form of household income/expenditures). I am sure that the Government can make micro-business finance available at 7% interest to pensioners that band together to form businesses.
I do not suggest that pensioners take on the hard work of farming but they can hire unemployed people to do such work even if it is just on a temporary basis.
Yours faithfully
Sean Adams
