In a move to improve the welfare of vulnerable citizens, Finance Minister Dr. Ashni Singh announced significant increases in both the Old Age Pension and Public Assistance payments as part of the 2025 national budget.
Effective from January 1, 2025, the Old Age Pension will increase by 14 percent, from $36,000 to $41,000 per month. This increase is part of the government’s broader pledge to improve the livelihoods of the elderly.
Dr. Singh noted that this increase represents a doubling of the OAP since the current administration assumed office in 2020, fulfilling a key manifesto promise.
The move will benefit over 76,000 pensioners across the country, putting an additional $4.5 billion into the pockets of those who have worked hard for the nation. The total payout for pensioners in 2025 is expected to exceed $37 billion, further strengthening the financial security of Guyana’s senior citizens.
Dr. Singh also reflected on the previous administration’s failure to keep its promises, stating that despite pledging to double the OAP in 2015, the amount remained far below expectations under the APNU/AFC government, rising only modestly to $17,000 in 2015 and $20,500 by 2020.
In another positive development, Public Assistance payments will rise from $19,000 to $22,000 per month, starting January 1, 2025. This marks another step in the government’s commitment to supporting those in need.
Public assistance will now benefit approximately 40,000 individuals, injecting an additional $1.4 billion into the economy and improving the lives of some of the country’s most vulnerable citizens.
The total public assistance payout for 2025 is expected to reach over $10 billion, a significant boost from the $9,000 monthly allowance in 2019.
Dr. Singh highlighted that the previous administration had promised to double public assistance but failed to fulfill this commitment during its time in office. Under the current government, however, the amount has more than doubled, providing crucial support for those who rely on it.
