Prime Minister Gaston Browne has announced that an increase to Social Security pensions is being planned, while confirming that a 5 percent rise in state pension payments has already been approved.
According to Antigua News Room, Browne made the disclosure during his Browne and Browne radio programme, where discussion turned to salary adjustments and pension relief for retirees across Antigua and Barbuda.
"A Social Security pension increase is also on the cards," Browne said, outlining the government's intention to expand financial support for pensioners.
However, the prime minister cautioned that any adjustment to Social Security benefits will be subject to financial scrutiny before implementation. "That will come after the actuarial review," he said, indicating that the timing and scale of any increase will depend on the outcome of that evaluation.
On the matter of immediate relief, Browne confirmed that action has already been taken. "We have agreed to a 5 percent increase for pensioners," he said, describing the measure as part of a broader effort to improve income support for retirees.
Browne suggested that the two measures together reflect the administration's approach of balancing short-term relief with longer-term fiscal planning. Actuarial reviews are used to assess the financial health and sustainability of the Social Security system before any structural adjustments are made.
The remarks come amid wider government efforts to address cost-of-living pressures, with officials examining a range of measures including salary increases, back pay settlements and pension adjustments. Browne indicated that while the approved 5 percent increase will provide immediate benefit, the potential Social Security adjustment could offer additional support once the necessary financial analysis is completed.
