Georgetown : Finance Minister Dr. Ashni Singh in his 2013 Budget estimates said there is a 25% increase for pensioners with effect from May 1, 2013. “The annual impact of this increase would result in an additional $1.3 billion of disposable income being placed in the hands of 42,500 senior citizens, and will bring the overall old age pension bill to a total of $6 billion in 2013.
In addition with effect from 2013, Government will provide each old age pensioner with assistance of up to $20,000 per annum to pay GPL for electricity charges incurred. This assistance will reduce the electricity charges that will have to be met by each pensioner who is a GPL customer, and will have the effect of increasing the disposable income of the senior citizen population by a further $590 million per annum” the Minister said.
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