Minister of Labour and Social Security, Karl Samuda, has announced significant increases for National Insurance Scheme (NIS) pensioners and other contributors to the scheme.

Samuda made the announcement on Wednesday during his contribution to the Sectoral Debate in the House of Representatives. He said the old age or retirement, the invalidity and the widows and widowers pensions will move from $3,400 to $4,200 per week, a 23 per cent increase for those receiving full-rate pensions.

At the same time, pensioners who are receiving the three-quarter rate will see an increase from $2,550 per week to $3,500 per week; a 37 per cent increase, while those receiving the half-rate pension will see the figure move from $1,700 per week to $3,000 per week, an increase of 76 per cent.

“This is a step towards pitching the NIS pensioners above the poverty line as we do our part to nurture the seeds of prosperity,” Samuda said while urging all individuals 18 years and older to register with the NIS and begin making their NIS contributions once they have started earning an income in order to qualify for a benefit later.

“Don’t contribute to the NIS on an ad hoc basis, once in a while, or once every blue moon. Instead, contribute consistently so that you put yourself in a position to benefit at the highest level possible, when your time comes,” Samuda urged.

do not qualify to receive pension payments due to insufficient contributions, they may qualify to be paid a one-off grant. In this regard he shared that the old age or retirement grant, invalidity grant, widows and widowers’ grants have all been increased from $50,000 to $60,000. The survivor benefits for children have also been increased and the special child and orphan pensions have been increased by 22 per cent, moving from $4,900 per week to $6,000 per week.

In cases where deceased parents do not have enough contributions to qualify their children to receive pension benefits, there is also the special child grant and the orphan grant. These one-off payments have also been increased by 36, moving from $55,000 to $75,000.

“This administration is nurturing seeds for peace, opportunity and prosperity,” Samuda declared, while noting that the NIS provides a suite of employment injury benefits, ranging from cash payments for short periods of illness to payments for life, as well as an employment injury death benefit.

The labour minister also shared that the rate paid for these benefits will move from $3,200 per week to $4,200 per week, an increase of 31 per cent, while the funeral grant will be increased by 67 per cent, moving from $90,000 to $150,000.

Samuda also announced that under the Comprehensive Health Insurance Plan for pensioners, all benefits under the NI Gold Insurance Plan have been increased. He also shared that the NIS provides a maternity allowance to domestic workers who are registered with the NIS and who have been contributing, before becoming pregnant.

“Each time the National Minimum Wage is increased, the maternity allowance automatically increases. And so the maternity allowance for domestic workers will increase from $9,000 per week to $13,000 per week effective June 1, 2023,” Samuda announced.

He said as the financial viability of the NIS improves, the value of the benefits paid has also improved.

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