The National Insurance Scheme has announced that old age and invalidity pensions have increased from $32, 100 to $35, 000 per month with effect from January 1, 2020.
Public Relations Officer, Diane Lewis-Baxter told DPI, that the minimum rate for Survivors’ Pension has been increased from $16,050 to $17,500 per month.
Concerning the contribution ceiling, the monthly insurable earning ceiling has been raised from $256,800 to $280,000, while the figures for the weekly insurable earning ceiling moved from $59,262 per week to $64,615.
Lewis-Baxter disclosed that measures are in place to ensure that all pensioners receive their benefits.
“We do have the banking system and we call it lodgment, where persons will submit their bank accounts numbers so that we can put the monies into their bank account. Apart from that, we have offices in every administrative region and persons can visit these offices if they do not have their bank account,” Lewis- Baxter said.
According to the PRO, the statutory date for pensions to be submitted to the bank is the 22nd of every month. She urged pensioners to submit their life certificates on time and employers download a new copy of the electronic schedule which has the updated insurable earnings and ceilings.
Persons can visit their local NIS office for further clarification or contact the NIS’ Public Relations Unit at telephone number 227-6851. They can also email their questions to nispublicrelations@yahoo.