No increase for pensioners this year
19 Feb 2014 18:50pm
WINDHOEK, 19 FEB (NAMPA) There will be no increase in the old-age pension grant for the 2014/15 financial year.
Minister of Finance Saara Kuugongelwa-Amadhila announced this during the tabling of the N.dollars 60,28 billion national budget for the 2014/15 financial year in the National Assembly on Wednesday.
The pension grant thus remains the same at N.dollars 600.
The grant was increased by N.dollars 50 to N.dollars 600 during the 2013/14 financial year.
We are providing resources to roll out grants to reach all qualifying beneficiaries, and will only increase the grants in 2015/16, she told parliamentarians.
Last year, an amount of N.dollars 3,9 billion was allocated for old-age pensions over the Medium-Term Expenditure Framework (MTEF) to cater for increased coverage of senior citizens.
Grants for Orphans and Vulnerable Children (OVCs) have been increased by N.dollars 50 to N.dollars 250 per month, and this grant will be rolled out to all qualifying children.
Allocations were also made to provide support to veterans of the liberation struggle, but Kuugongelwa-Amadhila did not say how much will be allocated to them from this budget.