The Government of Guyana in its 2016 Budget has revealed an increase to pension by $1200 and public assistance increase by $1300.
This was revealed by Finance Minister Winston Jordan during the presentation of his 2016 Budget speech to the National Assembly on Thursday.
He said that effective April 1, 2016 Old Age Pension will increase from $17,000 to $18,200.
“Nearly 50,000 pensioners are expected to benefit. Mr. Speaker, in the short space of eight months, this Coalition Government has been able to increase old age pension by 38.7 percent, the largest increase in recent memory, and a testimony to our commitment to govern in the interest of all Guyanese,” Jordan declared.
In addition to the increase, Jordan announced that effective April 1, 2016 all Guyanese citizens 65 years and older will no longer be required to pay for a driver's licence.
Further Guyanese citizens 65 years and older will be exempt from travel tax when travelling overseas on a Guyanese passport.
He also stated that effective April 1, 2016 Public Assistance will increase from $6,500 to $7,300 with over 9,600 persons slated to benefit from the almost 24 percent increase.