Pensioners to get increase in September
Seniors will receive the 2.75 per cent pension increase promised by the Government on September 15, the Premier and Minister of Finance has said.
David Burt, who introduced legislation to increase the funds for seniors in July, said the payments would be backdated to August 16, 2021.
He made the announcement after several pensioners had said on social media that they had not received the increases this week.
Mr Burt said: “This pension increase keeps a promise we made to Bermuda’s seniors, and with the cost of living relief package recently introduced by the Government, we are providing the help needed by many in our community.”
A government spokesman added: “The proposed 2.75 per cent increase will raise the basic contributory pension from $1,077 to $1,106 per month and the maximum contributory pension from $1,564 to $1,607 per month.
“This increase will mean that seniors will receive between an extra $355 to $516 each year.
“As this increase will be backdated, to August 16, 2021, residents receiving social insurance benefits will receive an additional lump sum payment of up to $516 on top of their new increased monthly pension amount in September.”