Qualifying public officers nearing retirement could benefit from a Government-funded bridge pension until age 65 under provisions of the Pension Amendment Bill, which was presented in Parliament on Monday.
Finance Minister Dr. Irving McIntyre presented the Bill. “I rise to present the Bill, which proposes two policy amendments to the Pension Act,” Dr. McIntyre said. “The Act currently provides for a bridge pension to be paid by the government up to the age of 65 years for persons who retire after being on the permanent establishment for more than 10 consecutive years.”
According to Dr. McIntyre, the official government retirement age is 60 years. However, he noted that public officers may choose early retirement after their 55th birthday. ” A bridge pension is required to provide financial support to retirees until they become qualified for a full pension from the Dominica Social Security,” he explained. Moreover, he indicated that there are currently two issues affecting public service retirees. “First, individuals who are employed as non-established workers are required to retire at 60 years, but they are not entitled to a bridge pension,” he explained. “This forces them to apply for a full pension from Social Security, which is much less than what they would receive if they began collecting at age 65.”
Dr. McIntyre continued by highlighting that, for some retirees previously employed in permanently established positions, the Government Bridge Pension is higher than their Social Security pension. As a result, upon reaching age 65, they experience a reduction in their overall pension benefits.
“The Bill before the House addresses both matters,” Dr. McIntyre stated. “It provides for non-established workers retiring on or after July 1, 2025, to receive a bridge pension until the age of 65. Furthermore, for persons on the permanent establishment who retired from July 1, 2025, if their Social Security pension after age 65 is less than the bridge pension paid by the government, the government will close that gap.
“By paying the difference between the Social Security pension and the government bridge pension, we will ensure that retirees maintain the same level of income they received throughout their government service.” Dr. McIntyre added that both policies will secure vital social safeguards for retirees who have contributed immensely to the growth and development of Dominica and its citizens.
