A TOTAL of $134.139 million in old age pension was paid to 3,348 pensioners through the banking system in 2024, according to the latest Auditor General’s Report.

This represents an impressive 133 per cent increase in bank-paid pensioners compared to 2023, signalling a major stride by the Ministry of Human Services and Social Security, led by Minister Dr. Vindhya Persaud, in modernising pension delivery and improving accessibility for senior citizens.

The 2024 report commended the ministry’s continuous efforts to expand electronic and digital payment options, which have significantly enhanced convenience, transparency, and efficiency for pensioners across Guyana.

During the year, the ministry managed $43.5 billion in allocations for Old Age Pension and Social Assistance, following a budgetary revision that increased the initial $43.186 billion allotment by an additional $314.081 million.

By the end of December 2024, $43.198 billion had been expended, highlighting the government’s unwavering commitment to social welfare and financial support for the elderly.

Further improving accessibility, the report noted that $13.65 million was also disbursed via Mobile Money Guyana (MMG) to 37 pensioners, providing greater flexibility for those who prefer mobile-based payment systems.

The old age pension currently stands at $41,000 per month, up from $33,000 in 2023, continuing the Government’s consistent annual increases aimed at improving the quality of life for senior citizens.

Minister Persaud has consistently emphasised her ministry’s mission to serve the elderly with dignity and efficiency. The 2024 Auditor General’s findings reaffirm this vision, showcasing a system that blends compassion with modernisation to ensure every pensioner receives timely and reliable support.

Individuals aged 65 years and older are eligible to apply for the old age pension approximately six weeks before their 65th birthday. Applications can be completed online or in person at any Ministry of Human Services and Social Security office, using a valid National ID, Passport, or Birth Certificate.

Pension payments are made through direct bank deposits, MMG, pension booklets, or direct payments to shut-ins and remote areas, with all queries handled through regional offices and a processing time of about six weeks from submission. Pension vouchers can be cashed at any post office, Bill Express, or SurePay location nationwide.