Minister Omar Ottley signs off on Pension Increase; Retroactive Payments to be disbursed in December 2023
PHILIPSBURG – In a momentous move, Minister of Public Health, Social Development and Labor, Omar Ottley has officially signed the National ordinance containing a general measure increasing the AOV/AWW pension. The ordinance, which had previously received approval from His Excellency Governor Baly on November 15th, will now be enacted to benefit pensioners.
Minister Ottley expressed his satisfaction at reaching this milestone after a long and meticulous process. With the signing of this National ordinance, Minister Ottley demonstrates his commitment to supporting the welfare of seniors by recognizing their invaluable contributions to society. Under the new measure, pensioners can expect an increase in their pension payments, offering them greater financial security and stability.
During his announcement, Minister Ottley clarified an essential aspect of pension payments. He highlighted that the pension is, in fact, a prepaid payment system, with the November payment considered as the advance for December. This arrangement accounts for the double payment (13th month) that seniors receive in November each year.
To ensure that pensioners are not subjected to an increased tax burden, the organization responsible for pension administration has devised a plan for retroactive payments. In December 2023, pensioners will receive retroactive payments from January 2023. This approach helps safeguard pensioners’ financial well-being while adhering to fiscal regulations.
The Minister acknowledges the patience and understanding demonstrated by pensioners throughout this process. The retroactive payments in December 2023 serve as a testament to the government’s dedication to fair and just treatment for all citizens. Minister Ottley has assured the public that measures are being taken to streamline administrative processes, ensuring prompt and accurate distribution of pension benefits.