Retirees to get an extra $33 per month
Most retirees who opted to receive monthly payments on their Retirement Savings Arrangement accounts will see a slight increase in the amount deposited into their bank starting this month.
The Department of Labour and Pensions issued a new guidance note increasing the maximum annual withdrawal amount to $15,400, up $400 from the previous maximum of $15,000.
In a press release issued 31 July by the department, Director Bennard Ebanks stated, “By increasing the annual disbursement for retirees in line with the increased consumer price index, it will assist in coping with the increased costs. We will continue to monitor the CPI to guide subsequent increases.” For a more complete summary of the story, please see the below link:
Published on: Aug 03, 2025 01:20 PM