BUDGET 2018: $500 increase for pensioners in 2018

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The government has announced a $500 increase in old age pension, effective January 1, 2018.

Minister of Finance, Winston Jordan said this increase represents an almost 49% rise in just two and a half years in the old age pension.

As a result, the old age pension will jump from $19,000 to $19,500. Jordan reminded that pensioners were relieved from the payment of departure tax, driver’s licence and passport.

Additionally, he announced that public assistance will be increased to $8,000 which represents an approximately 36% growth over the period of two and a half years.

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