NIS pension increased to $19,717, insurable earning ceiling now $158, 159

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[www.inewsguyana.com] – The National Insurance Scheme (NIS) has increased its minimum pension in wake of the 2013 wages and salary increases in the public service.

Head of the Presidential Secretariat Dr. Roger Luncheon made the announcement on Tuesday (December 31). According to him the 2013 NIS Status Report increased the smallest pension that could be paid to any eligible pensioner to $19, 717.

He noted that according to the report, among other increases in benefits and benefits related indices, is that the insurable earning ceiling has been increased to $158,159.

The insurable earning ceiling is the limit under which the contribution rate is applied for the compilation of a person’s NIS contribution.

Meanwhile, Dr. Luncheon also announced that Cabinet has granted approval for the General Register Office (GRO) to increase the cost of birth, death and marriage certificates.

The Cabinet Secretary told reporters that with effect from February 1, 2014, persons seeking to acquire any of the documents would have to pay a cost of $300.

In November, Cabinet also approved for the Guyana Post Office Corporation (GPOC) to increase its postage rate for domestic and international services.

Effective from November 18, the new rates became applicable. They are: for the first 20 grams, domestic rate-$80, Caribbean- $130, Central North and South America- $150, Great Britain – $160 and Asia, Africa, Europe and Australia – $200.

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