Saint Lucia to increase monthly pensions for government retirees by $225

Castries, Saint Lucia: The administration of Saint Lucia aims to increase monthly pension payments for government pensioners by over $225 from 1st August 2024. With this decision of making increase in payments, the authorities are eying to provide benefits to hundreds of pensioners.

The Saint Lucian pensioners are currently collecting less than $500 on a monthly basis which becomes difficult for them to deal with their everyday expenses. Therefore, PM Pierre announced of increasing payments for government pensioners to $725. This decision was announced by PM Pierre during his Budget address 2024/25 and asserted that he would set a new minimum pay-out for their pensioners.

Also, a motion was made in Parliament by PM Pierre on 18th June 2024 to amend the “Pensions Act.” This motion was passed in order to ensure all the government pensioners that their monthly payments would be increased to $725.

This crucial initiative of increase in pension is a part of the government’s “Putting People First” Policy. This is being conducted with a vision to offer Saint Lucians a fighting chance to cope with the adverse effects of inflation. Prime Minister of Saint Lucia, Philip J Pierre is committed to help ordinary citizens achieve all their goals and live an enhanced standard of living.

He further remarked that this decision made by him has also inspired National Insurance Corporation to expand its monthly payments to $500 for its pensioners. Notably, the government pensioners would earn as little as $314 monthly before July 2021. Meanwhile, the National Insurance Corporation used to pay out less than $500 monthly to almost 2400 pensioners.

During his address, PM Pierre asserted that he values the contributions of all the government retirees and pensioners who have played a huge role in development of the nation. He noted that all these government pensioners deserve to live a life with the assurance that their pensions will be able to give them a life with basic amenities and facilities.

He also remarked that the work is not done yet but he is committed to ensure monthly pension payments are reviewed periodically and increase in line with salary adjustments in the public service.