A raft of improvements have been made to the Pension system, with some changes expected to be made effective in September 2023. National Insurance Scheme (NIS) pensioners begin receiving increased payments ranging from 23 to 76 per cent on June 15. These changes are applicable to retirement pension benefits, and the invalidity and widows and widowers provisions. For persons in receipt of full-rate pension, an increase of 23 per cent has been made, moving payments from $3,400 to $4,200 per week, while persons receiving the three-quarter-rate pension are seeing a 37 per cent, with payments to them moving from $2,500.50 to $3,500 per week. Pensioners receiving half-rate pension are benefitting from a 76 per cent increase, which moves their weekly payments from $1,700 to $3,000. Full house medical benefits provided under the Government Pensioners Administrative Services Only (GOPASO) health scheme have also increased by 70 per cent, effective September 1, 2023.
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NIS Pension Benefits Increased
National Insurance Scheme (NIS) pensioners commenced receiving increased payments on June 15. The adjustments range from 23 to 76 per cent and are applicable to retirement pension benefits, and the invalidity and widows and widowers provisions.
The benefits for persons in receipt of full-rate pension has been increased by 23 per cent, moving from $3,400 to $4,200 per week.
The provision for persons receiving the three-quarter-rate pension has also been increased by 37 per cent, moving from $2,500.50 to $3,500 per week.
Pensioners receiving half-rate pension are benefitting from a 76 per cent increase, which moves their weekly payments from $1,700 to $3,000.
Meanwhile, full house medical benefits provided under the Government Pensioners Administrative Services Only (GOPASO) health scheme will increase by 70 per cent, effective September 1, 2023.
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, announced that individual benefits to retirees will go up by 40 per cent, moving from $20,000 to $28,000 per annum.
The provision for family subscribers will move from $42,000 to $52,000 per annum, an increase of 30 per cent, he further informed.
Members of the Government Pensioners Administrative Services Only health scheme will have access to these increases in benefits without any increase in their monthly subscriptions. The cost to the Government will be approximately $200 million.
The comprehensive health insurance scheme, which the Government operates through the Finance Ministry, is currently administered by Sagicor Life Jamaica Limited.
It provides a range of benefits for retired central and local government employees, teachers, members of the Jamaica Constabulary Force (JCF), United District Constables, nurses and retirees of some statutory bodies, their spouses and dependent children under 19, as well as those who are physically challenged.
These include hospital services such as room and board, hospital outpatient services and intensive care, surgical benefits, diagnostics, and overseas emergency services.
The scheme covers home and office doctors’ visits, specialists and consultations, along with the full house benefits that incorporate prescription drugs, optical and dental provisions.
As at June 30, 2023, the number of beneficiaries in the scheme totalled 29,268, of which 11,071 are individual subscribers, 9,088 are family subscribers, with 9,109 dependents.
Eighty per cent of the monthly subscriptions are paid by the Government with the remaining 20 per cent covered by pensioners.
The scheme is financed via government equity contributions totalling approximately $1.4 billion.
Dr. Clarke said the existing contract, which was renewed on December 1, 2021, expires on November 30, 2025.
A Monitoring Committee, comprising government pensioners, meets regularly to review the scheme’s performance and make recommendations for the Administration to consider.
