old-age pension to rise to $41,000 by 2025, says Minister Persaud

SINCE August 2020, when the current administration assumed office, the Government of Guyana has made remarkable strides in improving the well-being of senior citizens through the Ministry of Human Services and Social Security (MHSSS). This progress was outlined by Minister Dr. Vindhya Persaud during a press conference at her office on Lamaha Street, Georgetown, on Tuesday.

Minister Persaud reported a significant 70 per cent increase in the number of pensioners registered under her Ministry. Moreover, old-age pension amounts have surged by 75 per cent, reflecting the government’s commitment to enhancing social support for the elderly. In 2023, the old-age pension was raised to $36,000, with a planned increase to $41,000 by 2025.

“In only four years, the current administration has placed strategic measures in place to improve the lives of our elders,” Dr. Persaud emphasised. Among these initiatives is a transformative programme aimed at engaging seniors in various activities, including recreational, educational, and digital literacy sessions. She noted, “This year, we launched a very transformational programme where we are going into communities. We started in Victoria, and weekly we will have sessions to engage our seniors. One area of focus is teaching them about digital literacy—practical skills like using smartphones to fill out forms online.”

Senior citizens also benefitted from critical financial support measures in 2023. Water and electricity subsidies provided additional disposable income of $200 million annually to 27,000 pensioners. Furthermore, more than 1,000 individuals received spectacles through the Ministry’s iCare programme, enhancing their quality of life.

The government’s commitment to alleviating poverty among the elderly is further demonstrated through one-off cash grants and bonuses. In 2021, pensioners received a $25,000 grant, injecting $1.6 billion back into their hands. This was followed by a $28,000 one-off cash grant in 2022 and a $25,000 bonus in 2023, benefitting over 72,000 pensioners at a cost of $1.8 billion.

These measures are part of a broader strategy to create a more inclusive and equitable society. Guyana’s non-contributory pension system has been recognised as a powerful tool for reducing poverty and inequality in the region. The government has also streamlined pension access through alternative payment methods such as direct bank transfers and payments to shut-in pensioners, including those with disabilities and individuals without access to post offices.

Dr. Persaud lauded these initiatives as pivotal steps toward ensuring senior citizens’ dignity and economic security. She reiterated the administration’s commitment to sustaining these efforts and expanding programmes that uplift the most vulnerable members of society.