THE State has reduced the pension age to 66 years from July next year.

This was announced by the Minister for Women, Children and Poverty Alleviation Rosy Akbar in Parliament yesterday.

As of the 1st of July next year, the eligibility age for SPS will be reduced from 68 years to 66 years. The scheme provides a monthly pension of $50 to persons aged 68 years and over who do not have any form of income or pension, or who have never been beneficiaries of a superannuation scheme.

“Currently a total of 15,707 senior citizens are assisted through the Social Pension Scheme. Of this, 3604 are senior citizens who have been assisted this year with the reduced age criteria to 68 years that came into effect on the 1st of July 2015. And with the new age eligibility criteria to 66 years next year, we expect more senior citizens to benefit from the Scheme.”

Ms Akbar highlights the new age criteria for the Social Pension Scheme (SPS) will come into effect next July is enabling more senior citizens to benefit from the Scheme. According to earlier reports, the move was complemented by the increased budget allocations which have increased funding for the Social Pension Scheme from $million to $13m.