Saint Lucia: PM Pierre announces $725 monthly pay-out starting August 2024

Saint Lucia: Prime Minister Philip J Pierre has announced that his administration would set a new minimum pay-out for government pensioners. This will be effective from August 1, 2024 with the monthly pension payments increasing to $725.

The development came into effect as the administration felt that several pensioners at present collect less than $500 per month which is insufficient to cope with the effects of inflation on everyday consumer goods in Saint Lucia.

Under the Putting People First Policy, the Labour government makes sure that ordinary Saint Lucians always have a fighting chance. PM Pierre, along with the support of his cabinet is committed to achieve this goal.

It is to be noted that before July 2021, government pensioners earned as little as $314 per month, while the National Insurance Corporation – NIC paid out less than $500 per month to around 2400 pensioners.

The decision of the Pierre government has also inspired the NIC to raise its monthly payments to $500 for its pensioners. More than a 100 individuals will now benefit directly from these increases.

However, the government said that the work is not done yet and that it is dedicated to ensuring monthly pension payments are reviewed consistently and increased in line with salary adjustments in public service.

Also, on June 18, 2024, the Prime Minister launched a motion in Parliament to amend the Pensions Act which guarantees a raise in monthly pension payments for the government pensionsers to $725.

This step by the Pierre led administration shows that they value the contributions of the retirees and pensionsers to the development of the country. The government feels that they deserve to live out their retirement years with the assurance that their pensions will provide them with the dignified quality of life.

The development will benefit a lot of citizens of Saint Lucia who are dependent on the pensions which they receive every month from the government.