Guyana increases bank payments to pensioners, plans digital overhaul
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In Guyana, Finance Minister Dr. Ashni Singh announced that over 20,000 pensioners now receive their payments directly into their bank accounts, an increase from just over 11,000 in 2020.
He commended pensioners for choosing this method, urging the remaining 40,000 to do the same to avoid the costs and inconvenience of collecting pension books. The government intends to digitize all National Insurance Scheme (NIS) processes soon, allowing citizens to manage their interactions with the scheme from home.
This digitization policy aligns with the government’s broader goal of financial inclusion, ensuring all citizens have access to financial services and can use digital technology for payments. Dr. Singh noted that most government salaries are already paid directly into bank accounts, eliminating the need for physical lines and paperwork. President Ali has mandated the digitization of the NIS, with plans to enable digital applications for registration, monthly returns, contributions, benefit claims, and contribution record checks. Dr.
Singh also encouraged contributors to verify their payments and statements regularly and asked the NIS to provide yearly statements to employers. He concluded by emphasizing the importance of citizen-friendly service from NIS employees and congratulated the scheme on its 57th anniversary.
