Following a decision of the Cabinet, state pension has been increased almost three-fold to $360,000 annually up from the previous $120, 000.
Minister of State, Joseph Harmon, who made the announcement on Thursday said this followed the approval of a submission by Minister of Finance, Winston Jordan for an increase in the maximum annual rate of the state.
According to the Department of Public Information (DPI) Persons eligible for state pension will now receive $30,000 monthly as opposed to $10,000.
He also announced that Professor Noel Menezes, a well-known Guyanese historian, will now be paid a State pension.
According to the Harmon, she has met the eligibility criteria under the State Pension Act, describing her as “most deserving”.
At age 87, Professor Menezes launched her book entitled ‘Guyana and the Wider World’, which features a collection of her essays and addresses.
She also served as a history lecturer at the University of Guyana (UG) to President David Granger and many others and is a recipient of a national award.