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Increase in Social Security pension payments Print E-mail
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Written by Administrator   
Thursday, 10 March 2016 00:00

Come April of this year, persons who have contributed to the Social Security Board and are currently receiving a pension from the institution will receive a 5% increase in their pensions. That increase will see 8 thousand pensioners with the SSB benefit.

According to the Social Security Board’s chairman, Douglas Singh, effective April 2016, there will be a 5% increase to pensioners who have contributed to the Social Security Board. Singh says that there are recommendations for an additional 5% increase for April of 2017 but that cannot be done without a change in the wage bands and in order for that to take place there needs to be consultations with the business sector as well as labor representatives in order to have consensus on the matter.