The coalition Government has committed to increasing the old age pension by $500 moving it up 2.5% from $19,000 to $19,500, with effect from January 1, 2018.
The increase was announced by Minister of Finance, Winston Jordan, during the 2018 National Budget, on Monday.
The increases are as follows:
|$13,125 $17,000||30 percent|
|$17,000 $18,200||38.7 percent|
|$18,200 $19,000||4.9 percent|
|$19,000 $19,500||2.5 percent|
In addition to the pension increase, under this administration, elderly have benefitted from government’s exemption from paying travel tax, when travelling overseas on a Guyanese passport. They are also exempted from paying for a driver’s licence and passport fees.
Similarly, effective January 1, 2018, Public Assistance will be increased to $8000, an approximately 36 percent in the two and half years.