Monday, May 25, 2015

Retirees benefit from $3,000 promise


Retirees have finally benefitted from the $3,000 pension promise made by Finance Minister Winston Dookeran in his 2012 budget presentation last October.

The increase had taken effect since February 1, but the House of Representatives had met on February 16 to approve the amendments to the Finance Bill, allowing National Insurance Scheme pensioners to benefit from the $1,000 increase by the end of that month.

This would bring retirees' pension on par with national old age pensioners.

In a release yesterday the Finance Ministry said the additional money for the months of February and March were paid on March 8, in advance of March 15.

Future payments are scheduled to be paid on the 15th of each month as usual, the release said.