JAMAICA - The Jamaican government has set aside US$300m for increases in pension payouts for government employees.
Finance and planning minister Omar Davies announced government retirees will see an increase in their pension payments as of July 2007.
Davies told parliament the government had set aside $300m to make the payments.
He said the increases will range from a minimum of $500 per month for pensioners receiving $75,000 and over per month to a high of $1,500 per month for those receiving $20,000 per month.
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