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| With effect from next month, old age pensions will be paid at a rate of $6,600 per month, while public assistance will be paid at a rate of $4,900 per month,Jose Calderon Jersey, Minister of Finance, Dr Ashni Singh, said on Sunday.He emphasised the importance of the old age pensions and public assistance programme as amongst the most important interventions by Government. These are aimed at providing assistance to, and improving the lives of, the most vulnerable members of society, he said.The Minister indicated that under these programmes, more than 50,000 elderly and otherwise vulnerable beneficiaries are expected to receive direct income support on a monthly basis.This support, he indicated, is intended to ensure that the State provides a contribution to assist those individuals in meeting expenditure on their basic necessities. Minister Singh also drew attention to the fact that this programme generates significant economic activity since, given the income and expenditure profile of the beneficiaries, almost all of the amounts disbursed are transmitted immediately into the domestic economy through consumption of goods and services.The Minister added that this support is in addition to other initiatives such as the water rates assistance programme, under which Government provides financial support to meet water charges on behalf of old age pensioners, the staggered electricity tariff structure which sees household consumers of small amounts of electricity below a specified monthly threshold being billed at a concessional rate, Government’s residential programme for the elderly such as at the Palms, along with the several public health care programmes aimed at enhancing and improving the scope and quality of services offered by the public health care system thereby contributing to improved quality of life.Recent years have witnessed a rapid increase in the amounts paid by Government under the old age pension and public assistance programme. The new monthly rates announced by the Minister are 80 percent higher than 2007 levels in the case of old age pensions and 98 percent higher than 2007 levels in the case of public assistance.Minister Singh also drew attention to and commended highly, the successful steps taken by the Ministry of Human Services and Social Security in improving the timeliness with which old age pension books are distributed.This has contributed in a very significant measure to minimising, and in most cases eliminating the delay with which beneficiaries can access their entitlements. |
