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The Pension increase: A cosmetic gesture in the face of harsh realities

Jan 19, 2025 Letters

Dear Editor,

It is with deep disappointment that I pen this letter in response to the announcement by Finance Minister, Dr. Ashni Singh, that the old age pension will increase from $36,000 to $41,000 per month in Budget 2025. While this may superficially seem like an act of benevolence, it is, in truth, a stark reminder of how disconnected policymakers are from the grim realities faced by our senior citizens.

This token increase is woefully inadequate in a nation where the cost of living continues to skyrocket. Far from being a remedy, it exacerbates the indignity of old age by failing to address the systemic neglect that pensioners endure.  Permit me to elucidate the key reasons why this measure is profoundly disappointing:

  1. Escalating cost of living: In an economy plagued by inflation, $41,000 per month is a cruel mockery when basic commodities are priced beyond the reach of ordinary citizens, let alone pensioners.
  2. The healthcare crisis: Elderly individuals face escalating medical expenses due to chronic illnesses, with prescriptions, diagnostic tests, and specialist consultations often consuming their entire income.
  3. Utility costs: With surging electricity tariffs, water rates, and gas prices, a significant portion of the pension increase will vanish into paying bills, leaving little for survival.
  4. Food insecurity: Proper nutrition is critical in old age, yet pensioners are forced to choose between eating balanced meals and paying for other essentials.
  5. Housing dilemmas: Pensioners who rent or own homes struggle with the relentless rise in rent, maintenance, and property taxes, further diminishing their financial stability.
  6. Intergenerational dependence: Many elderly individuals find themselves supporting unemployed children or raising grandchildren, adding layers of financial strain.
  7. Inflationary erosion: The $5,000 increase barely offsets the effects of inflation, rendering the gesture economically meaningless.
  8. Lack of supplementary opportunities: Senior citizens are often unable to pursue part-time work due to health constraints, leaving them entirely reliant on pensions.
  9. The absence of robust welfare programs: The lack of comprehensive state-sponsored initiatives such as subsidized healthcare, affordable senior housing, or food security programs compounds the problem.
  10. Psychological toll: Financial insecurity erodes dignity, inducing stress and despair among those who have already given so much to the development of this nation.

The government must recognise that this paltry increase is not progress, but a perfunctory gesture that insults the intelligence of the very citizens it purports to serve. What is required is a radical rethinking of how we support our elderly—a demographic that has dedicated decades to the building of our society.

A meaningful pension reform should align with real-world economic conditions. Beyond merely increasing the amount, the government must invest in mechanisms to reduce the cost of living, expand access to affordable healthcare, and implement targeted subsidies. Until such measures are adopted, the elderly will remain victims of systemic neglect, and the idea of a “dignified retirement” will remain a cruel fantasy.

Let us not fail those who built the foundations upon which we stand today.

Yours sincerely,

Raymond Yusuf

(The Pension increase: A cosmetic gesture in the face of harsh realities)

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