Dear Editor,

THE two announcements by the National Insurance Scheme (NIS) that Pension Benefit would be increased from January 1, 2020 made no mention of retroactive payments due to Pensioners for the year 2019.

The Government announced in November 2019 that the Public Service Minimum Wage has been increased from $64,200 to $70,000 retroactive from January 2019. Public Servants were paid the increase difference between the old rate and the new rate retroactive from January 2019.

Why is the NIS increasing the minimum rate of Benefit from $32,100 to $ 35,000 from January 2020 and not paying the retroactive difference from January 2019.

The effective Rate of Pension Benefit of the Public Service Minimum Wage is 50% of $ 70,000 or $ 35,000 per month retroactive from January 2019. Pensioners should be paid the difference between $ 32,100 that is 50% of $ 64,200 the rate that Pensioners were receiving before the announced increase and $ 35, 000 that is 50 % of $ 70, 000. The difference of $ 2,900 should be paid retroactive for the 12 months of 2019 for those Pensioners who were receiving the minimum rate of $ 32,100 as at January 2019. Those Pensioners who became 60 years of age during 2019 should receive their retroactive payment difference from the month they started getting their benefit. Why is the NIS not forthcoming with an answer to this issue?

Regards,
Pensioner