Twenty Per Cent Increase in NIS Payment

Jamaica News:Labour and Social Security Minister, Hon. Shahine Robinson, has announced that old-age benefits payable under the National Insurance Scheme (NIS) will be increased by 20 per cent.

Making her contribution to the Sectoral Debate in the House of Representatives on June 26, Mrs. Robinson noted that the payment will move from $2,800 per week to $3,400 per week and will be effective from April 1.

She also noted that effective August 1, funeral grants payable under the NIS will be increased to $90,000.

Mrs. Robinson attributed the increase in payments to the findings of an actuarial review commissioned during the 2017/2018 financial year, which indicated that the scheme’s performance improved over the 2013-2016 period and that “viability (also) improved”.

Turning to the National Policy for Senior Citizens, Mrs. Robinson is inviting “comments and feedback” on the document, which was revised and tabled in Parliament as a Green Paper in February this year.

The policy, which has been published on the websites of the Ministry and the Jamaica Information Service (JIS), outlines the Government’s commitment to providing protection for senior citizens, and encourages their continued contribution to national development, while at the same time protecting their rights.

Mrs. Robinson’s presentation was made under the theme ‘Bolting the foundation for lasting prosperity through dignity and respect’.


Source: JIS News

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