Former Georgetown Mayor urges Govt. to reduce qualifying age for old age pension

Nov 06, 2023 News

Kaieteur News – The qualifying age for old age pension in Guyana is 65-years-old and the current amount allocated to pensioners is $33,000 per month. According to various analyses including, macrotrends.net, the present life expectancy or average number of years someone is expected to live in Guyana is 70.

Former Mayor of Georgetown, Ubraj Narine

Taking this into consideration, the high cost of living, the life expectancy age of Guyanese, Former City Mayor Ubraj Narine is advocating for the qualifying age of old-age pension be reduced to 60.

In a letter recently written to this publication, Narine said that, “As a nation, it is our duty to ensure that the well-being and dignity of our elders are safeguarded. In light of our abundant oil resources, it is high time that the Ali-led PPP government takes a bold step towards improving the quality of life for our senior citizens.”

Ubraj also urged the government to increase the old age pension to $100,000 and reduce the pension age from 65 to 60 in the upcoming 2024 national budget. “Furthermore, since the appointment of Dr. Vindhya Persaud, as the Minister of Ministry of Human Services and Social Security, she hasn’t done anything for our elders, and I hope that she will support such a gesture to uplift our elderly population.”

He further stated that the current amount of $33,000 allocated to pensioners is inadequate for the elderly population to cover basic necessities. “The cost of living has increased significantly over the years, leaving our elders struggling to make ends meet,” he said.

Therefore, raising the pension amount to $100,000 can provide them with the necessary support to afford their medical expenses, food, and other basic needs, he added. “Our senior citizens have dedicated their lives to building our society/ country, and it is only fair that we prioritize their well-being in return.”

The former mayor noted that the old age pension is currently falling short of providing adequate financial support which makes it difficult for elders to meet their basic needs. He said by increasing it to $100,000, “the government will greatly alleviate their financial burdens and allow them to enjoy a decent standard of living.”

He went on to say, “Moreover, many individuals retire at the age of 60 and face difficulties in finding adequate employment sources, leading to financial struggles. Reducing the pension age from 65 to 60 can reduce this financial hardship and help our elders live a more comfortable and stress-free life.”

It is his belief that the oil revenues can be used to facilitate the pension increase. “The discovery of oil resources has undoubtedly brought economic prosperity to our nation. However, true progress lies in how we utilize this newfound wealth to uplift the lives of all Guyanese citizens, especially our elderly population. By allocating a portion of the oil revenues towards improving pension benefits, the government can demonstrate its commitment to the well-being of our elders.”

Narine urged government to seize the opportunity at next year’s budget to make the elderly population comfortable. “In the 2024 budget, the Ali-led PPP government has a unique opportunity to prioritize our elders and demonstrate their commitment to social welfare.”

Narina added, “By increasing the old age pension to $100,000 and lowering the pension age from 65 to 60, we can significantly improve the quality of life for our senior citizens. Let us harness our oil resources not just for economic growth. but also for the betterment of those who have contributed so much to our society. I eagerly await the government’s response and hope that they will act in the best interest of our elders, securing a brighter future for all Guyanese.”

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age reduced, Old Age Pension, Ubraj Narine

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