Government has moved to correct what appears to be an injustice for pensioners who currently collect less than $500 monthly. Prime Minister Pierre, with the support of his Cabinet committed to improved financial payment to pensioners.
Before July 2021, government pensioners earned as little as $314 monthly, while the National Insurance Corporation (NIC) paid out less than $500 monthly to nearly 2,400 pensioners.
In his 2024/25 Budget Address, the Prime Minister announced that his Administration would set a new minimum pay-out for pensioners.
Effective August 1, 2024, monthly pension payments for government pensioners will increase to $725. This decision has inspired the NIC to increase its monthly payments to $500 for its pensioners. Over a hundred pensioners will benefit directly from these increases.
- Advertisement -
On June 18, 2024, the Prime Minister moved a motion in Parliament to amend the Pensions Act, guaranteeing an increase in monthly pension payments for government pensioners to $725.
- Advertisement -
St. Lucian Government Secures Better Pay for Pensioners added by Caribbean American Weekly on
View all posts by Caribbean American Weekly →