A 2.4 per cent increase to seniors’ pension benefits will be reflected in October 15 payments, the Department of Social Insurance announced yesterday.

The deposits are also to include a retroactive adjustment dating back to August 16.

A statement from the Government said that the inflationary increase will be tabled in the House of Assembly next month.

It added that the adjustment will raise the basic contributory pension from $1,152 to $1,180 per month and the maximum pension from $1,673 to $1,713 per month.

The pension increase was approved by the Cabinet and tabled in the Senate in July.

David Burt, the Premier and finance minister, said: “The Progressive Labour Party reveres its seniors, which is why, unlike the One Bermuda Alliance, which granted one pension increase in 55 months, we are proud to keep our promise of increasing pension benefits, every year, by the rate of inflation.

“When the House of Assembly returns in September, the Government will table the 2.4 per cent pension increase, which reflects our dedication to maintaining the quality of life for seniors and individuals with disabilities, helping to ensure their financial security keeps pace with rising costs.

“Since returning to Government in 2017, those receiving the basic contributory pension will now receive an additional $1,572 per year.”

• For more information, contact the Department of Social Insurance on 294-9242