The Social Welfare Ministry is expected to receive up to 5000 new pension applications for Social pension scheme every year.
Permanent Secretary Dr. Josefa Koroivueta says the ministry is projecting this after the government’s reduced the pension eligibility age from 66 to 65.
Dr Koroivueta says they’re predicting 400 new applications every month.
“That’s a projection based on the existing data that we have. Because right now, there’s about 70 percent of the population that is below 40 so we are sitting on a pyramid but we know come in the next three decades or so probably 2050 or could be earlier, we will become an age nation, there would be older persons than the younger generation.”
The social pension scheme currently provides $100 monthly allowance to 37,000 recipients who are under scheme.
