Pensioners retiring at age 60 this year will not lose out on their benefit

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People who will be 60 years, and who are desirous of leaving active employment in 2017, will not lose out on their age pension from the Antigua & Barbuda Social Security Scheme, despite the gradual increase in the retirement age.

As of January 1, 2017, the age of retirement in Antigua increased from 60 to 61, it will gradually increase every other year by one year until it reaches the age of 65 in 2025.

As Director of the Social Security Scheme David Matthias puts it, such persons will be able to visit the offices of the statutory corporation and apply for their pension.

“If you retire this year [2017] you will receive your pension whether you are 60 or 61. When we move beyond 61 and 62, one must be 61 and 62 to access the benefit; one must be 63 in order to access the benefit,” Matthias said.

Matthias said some pensioners who have already attained the age of 60 years, have the option of deciding to wait until next year to go into retirement. However this is dependent on the employer and the employee.

More in today’s Daily Observer.

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