WATCH: PM says Social Security pension increase is also on the cards

PM says Social Security pension increase is also on the cards

Prime Minister Gaston Browne says the government is preparing to increase Social Security pensions, while confirming that an initial rise in state pension payments has already been approved.

“A Social Security pension increase is also on the cards,” Browne said during his Browne and Browne radio programme, as he outlined plans to expand financial support for retirees.

He cautioned, however, that any adjustment to Social Security benefits will be guided by financial assessments to ensure sustainability.

“That will come after the actuarial review,” Browne said, indicating that the timing and scale of any increase will depend on the outcome of that evaluation.

The prime minister made the disclosure as discussion on the programme turned to salary adjustments and pension relief, where he confirmed that the government has already taken steps to provide immediate assistance to pensioners.

“We have agreed to a 5 percent increase for pensioners,” Browne said, describing the measure as part of a broader effort to improve income support.

Browne suggested that the combined measures reflect the administration’s intention to balance short-term relief with longer-term policy planning, particularly in relation to Social Security, where actuarial reviews are used to assess the financial health of the system.

The remarks come amid wider government efforts to address cost-of-living concerns, with officials examining a range of measures including salary increases, back pay settlements and pension adjustments.

Browne indicated that while the approved 5 percent increase will provide immediate benefit to pensioners, the potential Social Security adjustment could offer additional support once the necessary financial analysis is completed.

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