From September 1, old age pensions will be increased to $17 000 while public assistance will be increased by $600.
“In response to the numerous requests by our senior citizens for an improvement in their pensions, I am pleased to announce that, from September 1, every pensioner will benefit equally from a monthly pension of $17 000, a 30 percent increase on the present amount of $13 125,” Minister of Finance Winston Jordan told the National Assembly in his 2015 Budget speech yesterday.
“Every pensioner, whether he resides in Morawhanna Village in the North…or right here in Hadfield Street in Georgetown, or resident in the Palms Home for Elderly in Brickdam, each will receive $17,000 monthly to assist in meeting their basic needs,” he said.
“We have not forgotten those in difficult circumstances. They will see a 10 percent increase in their public assistance, rising from $5,900 to $6,500 monthly, effective September 1, 2015. Over 9,360 men and women who are disabled or economically and medically disadvantaged will benefit,” Jordan asserted. The PPP did not attend the presentation of the 2015 budget yesterday which amounted to $221 billion.
Jordan recalled that government had pledged to increase pensions for those men and women, 65 years and over, which amounts to 42,397 beneficiaries.
“In determining the quantum of the increase, we were cognizant of the need to end the current discriminatory approach to accessing old age pension benefits. Currently, only 30 percent of pensioners benefit from an electricity subsidy, since it requires either proof of ownership of property or registered tenancy of property. A similar discriminatory practice is in the provision of the subsidy for water services; only 62 percent of the registered pensioners benefit to the exclusion of over 16,000 pensioners,” the minister said.
“Mr Speaker, this must end. All of our pensioners must benefit equally from whatever is being shared,” he said before announcing the increase.
