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Thursday, January 26, 2023

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Hart Tillett calls for review of pension levels

LettersHart Tillett calls for review of pension levels

Dear Sir,

I read your last Editorial (12/30/2222) dealing with the economy on the verge of 2023.

Seems you touched all the economic indicators and your conclusion that “…on the Balance Sheet our economy is better off than it was on the eve of 2022,” appears justified. And your coverage of dinner-table matters was equally on point. 

One group, our pensioners, unfortunately escaped your attention. In 2009, HelpAge International did a country study on Belize and forecasted a rapid rise in the ageing population. In that year the Social Security Board (SSB) reported that 6,818 persons were receiving a retirement pension. This represented only 40% of citizens 65 years and older. The report recommended a universal pension scheme for all citizens over 65.

Of equal importance is the need for a review of the pension levels which have remained unchanged from the years I served on the SSB. The HelpAge report saw this as an important tool in the fight against inflationary pressures on fixed income retirees.

Respectfully,
Hart Tillett.

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