In Support of Pension Increment for Sugar Retirees

Jan 03, 2023 Letters

Dear Editor,

Imtiaz Baccus’s letter (Dec 30 brought shock and tears to my eyes. It is incredible that former sugar (retired) workers (STEPS) who contributed to a pension scheme are receiving a pension that is well below the old age pension. Worse, they have not received an increment over the last ten years unlike regular old age or GuySuCo pensioners.

In almost every country, including what our towering political leaders use to call the imperialistic parasites, pension is tied to inflation; retirees and or pensioners get annual COLA. In the US, for example all social security pensioners will get a 12% increase from January and more increments are expected annually thereafter.

Mr. Baccus appealed to President Ali and Finance Minister Ashni Singh to consider granting an increase in their (STEPS) pension (which varies but averages, I am told some $18K). The current old age pension is about $28K and likely to go up in the next budget.

The former STEPS contributors could hardly afford to buy ration for a week with their pension. They made enormous sacrifices to the sugar industry and at a period of time when it was most profitable; their contributions were invested in the economy. Some STEPS contributors made payments into the fund for up to forty years. Their low pension amount is an insult.

Sugar workers historically have been the economic base of the nation and contributed significantly to growth and development. I grew up on the largest sugar plantation in Guyana, Port Mourant. I can relate to the impoverishment of sugar workers. They deserve a decent habitable pension to lift them out of poverty which currently is at 48%, according to the IDB. I am told STEPS cannot afford to increase pension payment or offer an 8% increase with its limited budget.

By way of this missive, I am petitioning the President and Vice President to please consider giving a subsidy to STEPS to raise the pension minimum amount tied to the old age pension plus an 8% increase similar to that given to GuySuCo, police, military, and public service workers. Since the retired pensioners did not receive an increase in pension for last decade, may I also appeal to the President and VP to please offer subsidies that will provide for an additional increment that is equivalent to the total percentage granted to GuySuCo and state workers over the last ten years (retroactively). Only a small number of pensioners are receiving STEPS; most have passed away. A subsidy will be an insignificant burden on the treasury and help to bring down the poverty level in several villages.

Yours faithfully,

Vishnu Bisram

Latest News

In Support of Pension Increment for Sugar Retirees

Related

Similar Articles

The Glenn Lall Show | November, 20th, 2024

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Guyana Beverages Inc. partners with GFF for Maid Marian Wheat Up...

GFF provides support to EBFA U14 Boys’ League

Athletics scores big at NSC National Sports

St. Theresa’s Primary triumph in Republic Bank...

Wakenaam Masters to face Parika Defenders in T20...

Bakewell supports Kashif and Shanghai Futsal...

Features/Columnists

Fastest growing economy and an empty stadium

Rising Gun Crimes in the Caribbean: Urgent Action required by all

The fight for power, then where to?

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]

In Support of Pension Increment for Sugar Retirees

Share this:

Related

Similar Articles

The Glenn Lall Show | November, 20th, 2024

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Features/Columnists

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]