Old Age Pension to be increased to $20,000 per month

The Guyana Government has announced that Senior Citizens who are receiving old age pension will receive an increase in their monthly allowance by 2017.

Social Protection Minister Volda Lawrence told pensioners that the government intends to increase the monthly pension to $20,000 when the 2017 National Budget is presented in December.

The Minister made the announcement during an address to seniors to mark the commencement of month of the elderly.

Effective April 1, 2016, the Old Age Pension was increased from $17,000 to $18,200.

This new announcement marks the second increase in less than a year that pensioners will enjoy in their old age pensions.

Minister Lawrence said the government is shy of meeting its mandate of increasing the old age pension by $1800.

She said other incentives will be included in the budget for senior citizens.

“As we continue to pray and ask God to shower his blessings on this country and leadership we will see what the lord will provide for us come December when the Minister of finance lays the budget in the National Assembly,” she added.

The United Nations will mark the 26th International Day of Older Persons (UNIDOP) on October with a commemorative event focusing on the theme “Take a Stand against Ageism.”

The Day is observed every year in October.

The global population of older people is expected to rise from just over 900 million in 2015 to 1.4 billion by 2030 and 2.1 billion by 2050, when there will be roughly the same number of older persons and children under 15 years of age.

UNIDOP continues to call on everyone to reject all forms of ageism and work to enable older persons to realize their potential, strengthening efforts to build a life of dignity and human rights for all.