Increases Due For Saint Lucia Pensioners

The Government of Saint Lucia, led by Prime Minister Hon. Philip J. Pierre, values the contributions of our retirees and pensioners to the development of our country. They deserve to live out their retirement years with the comfort of knowing their pensions will ensure them a dignified quality of life. However, global economic shocks like high inflation and energy costs disproportionately impact pensioners living on a fixed income. The Prime Minister is leading the effort to strengthen their spending power and make their hard-earned dollars go further. Before the Pierre-led Administration came to Office in 2021, many government pensioners earned as little as $314 monthly. Nearly 2400 NIC pensioners collected less than $500 monthly. Budget 2024-2025 will change that. The Prime Minister has made sure our retirees and pensioners are not left behind. He has signed off on a decision to increase the minimum monthly pension payments for government pensioners to $725! The National Insurance Corporation (NIC) has agreed to follow suit and will increase its minimum pension payments to $500. Government and NIC pensioners will notice the increases in their monthly pensions in August 2024. Government pension payments in the future will be linked to union-agreed negotiated salary increases...