Guyana Old Age Pension Form For 2022
Description
How to fill out Affidavit Of Age?
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FAQ
The Government of Guyana announced Monday that the old age pension has been increased from $28,000 to $33,000 effective January 1, 2023. The increase will benefit more than 73,000 senior citizens nationwide placing some $4.4 billion in disposable income in the pockets of Guyanese 65 years and older.
The total Contribution for Employed Contributors is 14% of the actual Wage / Salary paid to the Employee. This is derived from a 5.6% deduction from the Employee's pay, and the remaining 8.4% paid by the Employer on behalf of the Employee.
Any Guyanese over sixty five (65) and older living Guyana is eligible to apply for Senior Citizens Pension. Guyanese who live overseas do not qualify unless he/she returns to live in Guyana permanently.
A person who qualifies for pension is entitled to 40% of his relevant wage for the first 750 contributions, and an additional 1% for each complete block of 50 contributions above 750. For example, a person with 1,222 contributions would be entitled to (40 + 9) = 49%.
Manner of Claiming A Claim for Old Age Benefit must be made by completing Form OAB1 - Claim for Old Age Benefit. This Form must be taken to the nearest National Insurance Office, along with the Insured Person's Birth Certificate, Social Security Card and National Identification Card.
