The Government’s promise to bring greater financial security and improved social well-being to retired public officers, who are currently not receiving benefits from Government is now a reality.
The Advanced payment to qualifying retirees commenced yesterday, October 30, at the Ministry of Finance. These retirees received payment inclusive of retroactive benefits.
Thereafter, the monthly payment from Government will be the top-up that will ensure that retirees receive at least 70% of their last salary, when combined with the NIS benefit. This payment is provided as a buffer while the public awaits the court ruling on the matter of pension for public officers.
Prime Minister and Minister of Finance, Dr. the Right Honorable Keith Mitchell, described the occasion as historic, significant and extremely close to his heart. This proposed advance payment covers one category of retirees. Government acknowledges that other retirees will be considered in future phases of this initiative.