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Old Age Pension to be deposited in banks from 2020 – Social Protection Minister
Elderly citizens can expect that in 2020, Government will start depositing their pensions into their bank accounts.
Minister of Social Protection, Amna Ally
According to Minister of Social Protection, Amna Ally, “We want the best for our pensioners. They’ve worked long and hard. And in their old age, they must enjoy those benefits”.
She said that in the case of the elderly going to collect their pensions at the Post Office, they should face the least difficulty with uplifting those funds.
In some cases, she said, some persons go to the post office and are told that the post office doesn’t have enough money to pay them. This tends to happen more often to persons who live in remote communities. In those cases, she said, people have to go through a hassle to travel from far-flung areas to reach the post office.
“The Ministry of Social Protection ensures that there is adequate money at the post office, for it to go to various locations long before pension day. It is the inefficiency, I would say, of the post office [that causes the cash shortage].”
Ally said that the Government is currently engaging the Guyana Association of Bankers to streamline the process of direct deposits.
“We couldn’t do it this year…because it’s a tedious exercise. And we are beginning to distribute pension books, early November.”
She explained that if a pensioner’s money is distributed into his/her account, they will not be given a pension book.
“What we’re going to start with is the new pensioners who have got to get pension for 2020.”
Before the year is out, Government will work on getting pensioners with existing accounts registered, so that they can have their deposits done in early 2020.
Ally said that that will ease the issue of pensioners having to travel far distances and stand in long lines to collect their money.
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