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Barbados Association of Retired Persons Urges National Insurance Scheme to Address Concerns for Retirees
The Barbados Association of Retired Persons (BARP) calls on the National Insurance Scheme (NIS) to address concerns over retirement age, taxation on pensions, and cost of living adjustments for pensioners. Transparency and staff selection are also emphasized.
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Originally published by www.nationnews.com (opens in new tab)
The Barbados Association of Retired Persons (BARP) has put the National Insurance Board on notice that it wants the National Insurance Scheme to address a number of concerns to alleviate the cost of living challenges of its members.
“We are asking the NIS to examine the data along with Government social care agencies to understand the level of deprivation and poverty many retirees in Barbados are facing because of what we term starvation pensions,” noted BARP’s president Marilyn Rice-Bowen during a Zoom meeting on the Provisions Of The NIS Revitalisation Plan on Wednesday night.
BARP wanted consensus on the national retirement age and a relook at double taxation on pensions.
“There are members of BARP who are forced to exist on less than a $1 000 a month despite the rising cost of living. This speaks to the need for specified cost of living adjustments for NIS pensioners . . . we want the NIS in tandem with pension reform to have its annual report and audit within the stipulated deadline. These documents should be made public within a month of completion. The NIS should be transparent in its service and records . . . and must be transparent in selection of staff,” said Rice-Bowen. (JS)
