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Typo error gives Mauritian seniors short-lived joy over pension increase

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Typo error gives Mauritian seniors short-lived joy over pension increase
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Citizens over the age of 65 will not receive Rs13,500 as old-age pension as from July 1, 2023, contrary to what has reportedly been stated on page 201 of the Finance Bill 2022-23.

“The joy was short-lived after authorities claimed this was a typing mistake and the new amount would in fact be applicable as from July 1, 2024,” l’Express reported.

The Ministry of Finance said the corrections are being effected.

“It should be understood that provision was made in the last financial year for an increase of Rs 2,000 in the old-age pension for those aged over 65. Today, they are entitled to a pension of Rs 11,000.

“Next year, depending on the economic situation, we will add Rs 1,000 and the difference in 2024 to respect the electoral promise of 2019”, an unidentified spokesperson at the Ministry of Finance was cited as telling l’Express.

The new quantum will reportedly be partially financed by the Generalized Social Contribution (CSG), a contributory pension plan introduced in 2020-21 and whose benefits will be payable as from July 2024.

It will require additional expenditure of Rs 15 billion, according to specialists.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.