Pension grant raised to N.dollars 1 100
25 Feb 2016 17:00pm
WINDHOEK, 25 FEB (NAMPA) - The monthly pension grant for elderly citizens has increased with N.dollars 100 to a total of N.dollars 1 100 paid by Government each month.
Minister of Finance Calle Schlettwein announced this on Thursday during the tabling of the 2016/17 National Budget in the National Assembly.
The MTEF [Medium Term Expenditure Framework] allocations make provision for an additional N.dollars 100 per month in the next budget. At this level of grants, our senior citizens are placed above the national poverty line, making the grants an effective and credible shield against poverty and vulnerability.
The pension grant last year increased from N.dollars 600 to N.dollars 1 000 and was well received among pensioners, who on many occasions raised concerns of escalating living costs but a not on par social grant.
It was the largest increase in the grant since Namibias independence in 1990, awarded in efforts to eradicate poverty as directed by President Hage Geingob.
The total budget this year is N.dollars 66 billion, down from N.dollars 67,6 billion in the 2015/16 budget.