Durrant Pate/Contributor

National Insurance Scheme (NIS) pensioners are set to get an increase in benefits come June 1.

Labour and Social Security Minister, Pearnel Charles Jr., who made the announcement during his Sectoral Debate presentation in Parliament on Tuesday (May 13), said the increase is due to the positive performance of the National Insurance Fund (NIF) from which pension benefits are paid.

As at March 31, the NIF boasts an increase in the net asset value from approximately J$194 billion in March 2024 to $227 billion in March 2025. This represents a 17 per cent increase over last year. 

Retirement (old age), widows, widowers and invalidity pension is being increased from J$4,200 to J$4,620 per week. Retirement (old age), widows, widowers and invalidity grants will be increased to J$65,000, up from the current J$60,000.

Special child and orphan pension will move from J$6,000 to J$6,600  weekly, while special child and orphan grants will move from J$75,000 to J$80,000. Employment injury benefit will rise to J$4,620, up from J$4,200 per week.

Funeral grants will move from J$150,000 to J$160,000, while the maternity allowance for domestic workers, only for each child, is being increased to J$16,000, up from J$15,000. Note that maternity allowance is pegged to the national minimum wage, which will increase to J$16,000 effective June 1.

Minister Charles announced that all other increases in pension benefits have taken effect since April 1, with payments to begin in August 2025. In the case of the NI GOLD, which is the health insurance benefit provided to NIS pensioners, the benefit levels will increase effective July 1, 2025. 

The minister disclosed that the Cabinet has approved the introduction of the Unemployment Insurance Benefit, which will be added to the suite of benefits provided by the NIS. This new benefit will serve as a guaranteed safety net for all employees who are contributors to the NIS with the exception of the self-employed. 

Work is now underway to establish the legal and institutional frameworks needed to implement this important national support system.