The National Insurance Scheme (NIS) says that the minimum rate for Old Age and Invalidity pensions will be increased from $21,352 to $25,000 per month from January 1st, 2016.
In a notice in yesterday’s Sunday Stabroek, the NIS also said that the minimum insurable earning ceiling for self-employed persons contributing to the NIS will be increased from $53,334 to $62,400 per month from January 1st, 2016.
The funeral grant will also be raised from $33,385 per month to $36,725 from January 1st, 2016.
