XN000022-1973-10-06 — Page 2

Saturday, October 6, 1973

INCREASE IN PENSIONS

The Government announced today that an eight per cent increase

in pensions will be paid with effect from April 1 this year.

The increase will be granted to government pensioners whose

first day of retirement was April 1, 1973 or earlier, and who have

reached the age of 55.

Pensioners who retired after April 1 will not be eligible for

the increase but their pensions will be adjusted as necessary to take

into account the recent government salary increase.

Widows and Orphans pensions which were in effect at April 1

this year will also be increased by eight per cent with effect from that

date.

Those pensioners paid locally, who are eligible for the increased

benefits, should receive them in their payments for November 1973. The

arrears of benefits will be paid as soon as possible thereafter.

The increase in pensions will cost approximately 4.6 million

dollars for the current financial year.

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