Published 9 January 2024
Basseterre
Buckie Got It Media Source
GOVERNMENT OF ST. KITTS AND NEVIS IMPLEMENTS CONTRIBUTORY PENSION PLAN AND SALARY INCREASE EFFECTIVE JANUARY 01, 2024
Basseterre, St. Kitts, January 08, 2024 (SKNIS): The Government of St. Kitts and Nevis has successfully implemented its new salary increase for government employees and a Contributory Pension Plan, effective January 01, 2024.
Civil servants and pensioners will benefit from an (8) percent salary increase, commencing on January 12, 2024.
The Contributory Pension Plan, also commencing on January 12, 2024, with a three (3) percent pension contribution, is specifically designed for all Government Auxiliary Employees (GAE) and those employed by the government since May 18, 2012. This plan aims to provide a secure and sustainable pension system, contributing to the financial stability of government employees post-retirement.
To ensure a smooth transition and comprehensive understanding of these new benefits, particularly the Contributory Pension Plan, a series of information sessions will commence on January 15, 2024.
“These sessions aim to educate employees about the benefits of the salary increase and the new pension plan, focusing on their contributions to employees’ immediate financial improvement and long-term financial health,” said Thelma Richard, Head of the Civil Service. “These sessions offer an invaluable opportunity for employees to gain a thorough understanding of the changes and how they will impact their future.”
Prime Minister, the Honourable Dr. Terrance Drew, has expressed his satisfaction with the implementation of these changes, reiterating the Government of St. Kitts and Nevis’s dedication to improving employee working conditions and benefits. He emphasized that the new salary structure and pension plan represent a long-term commitment to support government employees throughout their careers and into retirement.
