A few announcements made by Prime Minister and Minister with responsibility for Social Security, Dr. Terrance Drew, during his 2024 budget address in December, took effect as of January 1st 2024.

They are: Social Security pension increase- minimum age (contributory) pension from EC $430 increasing to $500 per month (a 16.3% increase), assistance (non-contributory) from EC $255 to $350 per month (a 37.3% increase)., a 40 percent increase on Funeral Grant benefit from EC $2500 to $3500.

Social Security Board (SSB) says it “continues the path to reform the social security system and its operations to ensure the solvency and relevance of the Fund.”

“These measures speak to the health and ability of the Fund to meet the expected financial commitment to its beneficiaries and members while relevance refers to the ability for the system to provide meaningful levels of support to its insured persons when they make claims”, it added.