GUYANA - President Bharrat Jagdeo (pictured) has announced that pensioners are set to receive a 75% increase in their sums starting January 2006.
The increase is expected to cost government around GUY$800m (US$4.2m), and would see pay outs rise from $2005 to $3500.
The old age pension currently costs government over $1bn.
There are 30 000 citizens receiving old-age pensions, with a further 33 000 receiving public assistance.
The President said his decision to increase the old aged pension was influenced by his many interactions with senior citizens during the outreaches to communities across Guyana.
The announcement comes on the back of difficult economic times regionally, following flooding in January, believed to have cost government 3bn, as well as high fuel prices.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.