Last Updated on June 20, 2024, 6:02 AM AST by Anthony Morris
Basseterre, St. Kitts: The Government of St. Kitts and Nevis will provide the Government Auxiliary Employees (GAEs) with a pension. This benefit to GAE workers will be starting from July 2024. This policy is being carried under the leadership of PM Terrance Drew.
During the gathering of the National Assembly on 2nd May 2024, Prime Minister Drew announced two major policies. Along with benefitting the GAE workers with their earned pension, the Federation aims to implement the Children’s Savings and Financial Literacy Programme by September 2024.
For these two policies, Dr. Terrance Drew will collaborate with his A-Team for the successful execution of these programmes. He stated that the payment of pensions to GAEs is a vision and commitment made from the onset of his administration.
PM Drew remarked that the Pension Reform Task Force continues to perform its duties to ensure that all the GAEs are paid their pensions. This policy is enforced by the government to protect and reassure financial stability of the GAEs.
To be eligible for the pension, the Government Auxiliary Employees must be at least 62 years old and must have contributed a minimum of fifteen years of service.
Additionally, PM Drew made the announcement of the Children’s Savings and Financial Literacy Program during the 2024 Budget Address. He remarked that this policy would encourage the well-being of the youth and provide financial literacy.
Under this programme, every young citizen aged between 5 to 18 will be funded with EC$1000 in their savings account.
Prime Minister Terrance Drew also highlighted that since he was appointed the PM, he, with the support of his Cabinet colleagues, was able to bring together the framework for the functionalization of pension payments.
Notably, PM Drew announced that the payments will begin in July 2024, benefitting thousands of people in the Federation.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
