The Cabinet decided that, in keeping with inflationary pressures and the loss in the value of money over time, Government Pensioners are to receive an increase in their monthly payments.
The precise amount is subject to negotiations and affordability, given the 14% increase over several years which current government employees are beginning to enjoy.
A team at the Ministry of Finance is tasked with determining what is affordable and what revenue stream is likely to be adjusted to ensure that revenues can match the increase in expenditure that would be triggered by an increase in pension payments.
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