At the next sitting of Parliament this week, MP Roy McTaggart and MP Sir Alden McLaughlin will ask Parliament to pass a private member’s motion to increase the “minimum cumulative pension” under the Public Service Pensions Regulations and raise the amount paid to retired seafarers, veterans, and their surviving spouses.
Regarding the request for seafarers, the following resolution is proposed:
BE IT THEREFORE RESOLVED that the Government consider further increasing the monthly ex-gratia stipend paid to older persons and adults living with permanent disabilities who receive financial assistance, retired seafarers and veterans and their surviving spouses to at least $1,500 effective January 1, 2024.
Concerning civil service pensioners, the following resolution is proposed
AND BE IT FURTHER RESOLVED that the Government consider amending the The Public Service Pensions (Ex-Gratia Uplift Payments Regulations so that the “Minimum Cumulative Pension” is increased to S1,250 effective August 1, 2023, and to at least $1,500 effective January 1, 2024, to ensure that all civil service pensioners receive a pension of at least that paid to older persons receiving permanent financial assistance from the Government.
According to the motion, the reasons for these requests are that the stipends or ex-gratia payments previously paid have “been severely eroded by inflation over the last three years,” and the increases are needed to cope with the high cost of living in Cayman.
