Story Created:
Feb 16, 2012 at 12:03 AM ECT
Story Updated:
Feb 16, 2012 at 12:03 AM ECT
Parliament is scheduled to meet tomorrow to approve amendments to the Finance Bill which will allow National Insurance Scheme (NIS) pensioners to get their $3,000 increased pensions from month's end.
The House of Representatives debated and passed the bill last Friday.
On Tuesday the bill was debated in the Senate but amendments were made following contributions from Independent and Opposition members.
The Parliament is expected to sit briefly tomorrow to approve these amendments.
In winding up the debate on Tuesday, Finance Minister Winston Dookeran said he received letters from various groups—including the Government Daily Rated Association of Trinidad and Tobago which requested an improvement in the pension payment structure.
Dookeran said the National Insurance Board (NIB) had made a number of recommendations which will bring relief to pensioners in the country.
He said when Government talks about what it was able to achieve in a short space of time, some will say they are boasting.
Dookeran told the Express that Government gave a commitment to working toward a universal retirement benefit programme.
"We are hoping to expand the coverage of minimum pension in the years to come, we are working on a scheme that will allow for a fundable pension programme to be developed over time."
Dookeran added that actuarial reviews were conducted by the NIB in 2008 and 2010 and increases were effected.
He said there will be a further actuarial review in mid-2012 to look at the structure of contributions.
He assured there were no plans for further increases in contributions at this time.
After the Parliament sits tomorrow, it is expected to resume sittings after Carnival.
On Tuesday the Senate was adjourned until February 28 when debate will resume on Opposition Senator Fitzgerald Hinds's private motion which calls on the Senate to examine the strengths and weaknesses of the Trinidad and Tobago Police Service (TTPS).
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