BUDGET 2022 sees increases in old age pension, public assistance & school grants
The government has announced increases in budget 2022 for the old age pension, public assistance and two key grants given to school aged children.
Finance Minister Dr. Ashni Singh told the National Assembly on Wednesday that the government remains committed to ensuring that those who have served the country over the years and are now advanced in their years are able to enjoy a dignified existence.
With an improvement from $20,500 to $25,000 monthly last year; this year, the government will be increasing the Old Age Pension further from $25,000 to $28,000.
This will place an additional $2.3 billion of disposable income in the hands of 65,000 old age pensioners, Dr. Singh said.
Meanwhile, in supporting the citizens in the distressed of circumstances, this year the government will be increasing the monthly Public Assistance payment from $12,000 to $14,000, benefiting 18,000 persons and providing an additional $432 million in disposable income to these individuals.
Dr. Singh said the government will be maintaining its annual uniform grant given to the parents of each school age child, announcing that the grant will be increased this year from $4,000 to $5,000 per child.
This will place $200 million of disposable income in the homes of 200,150 children attending both public and private school.
Additionally, budget 2022 has catered for cash grant to parents of children attending school with a proposal to increase it from $15,000 to $25,000 per child.
This will place an additional amount of $2 billion in the homes of the same 200,150 children attending both public and private school.