Breaking News
The Pensioners Association takes credit for Government’s Index Policy
The Government has taken a policy decision to index pensions and has mandated the Pension Modernization Commission to consider options to implement this decision.
The Commission will submit proposals for indexing pensions to Cabinet.
According to Finance and the Economy Minister, the hon. Harold Lovell, before the mechanism is finalized and implemented, the Pensioners’ Association will be consulted for recommendations.
Lovell says once this measure is implemented, increases in pensions will be more predictable.
He adds that with the introduction of the indexing system, pensioners will be aware of the procedure for determining the amount and timing for an increase in pensions.
While President of the Antigua and Barbuda’s Pensioners Association Eddie Hunte is pleased with the initiative, he says the government should not take credit for the idea, since for years his organization has been fighting for this.
He believes that local pensioners deserve much more because of their contributions to towards the development of the twin island state.
Meanwhile, Hunte has reiterated his disagreement with the terms which requires pensioners who are still otherwise employed to pay 2.5 medical benefits contributions.
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