Pensions to rise with inflation for seventh year
Pensions will increase in line with the rate of inflation for the seventh year, David Burt confirmed.
Responding to questions from Progressive Labour Party MPs, the Premier told the House of Assembly on Friday: “This Government is continuing its promise to increase seniors’ pensions by the rate of inflation each year and will this year implement and increase of 2.3 per cent which will be seen in payments made to seniors this September.”
The contributory pensions order had been tabled earlier in the session and Mr Burt said it was expected to be debated next week.
He said the proposed increase will raise the maximum pensions benefit from $1,713 a month to $1,752 a month.
“Overall this will mean that maximum pensions will increase by $468 for our seniors this year,” he said.
“This is the maximum but all pensioners will see an increase depending on their levels of contributions.
“The cumulative effect of the increases of which we have put into place since coming into office means that maximum pensions for seniors has increased by $3,053 a year.”