Saint Lucia introduces Minimum Liveable Wage, boosts pensions to $725

Saint Lucia: In a significant development, the Government of Saint Lucia has taken action to raise salaries and increase paychecks for nearly 13,000 Saint Lucian workers.

As announced by Prime Minister Philip J Pierre from August 1, 2024 onwards, Saint Lucia’s first ever Minimum Liveable Wage will take effect on October 1, 2024.

Also, the monthly pension payments will increase to a new minimum of $500 for NIC pensioners and $725 for government pensioners as effective from August 1, 2024.

While addressing the employers, PM Pierre said that they have until October 1 to adjust their systems and ensure employee remuneration reflecting the minimum wages such as $1130 per month, $52 daily and $6.52 hourly.

The Prime Minister said that these people first policy actions implemented by his administration will strengthen spending power, improve the standard of living for working class Saint Lucians and also restore dignity to retirement for pensioners.

This development was announced by PM Pierre in his budget address for 2024-2025. He said, “It is our hope and our desire to follow the rules and that Saint Lucian workers will have a new Minimum Liveable Wage by August 1, 2024.”

This significant announcement is aimed at transforming the lives of thousands of citizens of Saint Lucia. These significant changes to the minimum wage and pension schemes promises immediate and long term benefits for pensioners and workers across Saint Lucia.

The government is taking action to restore dignity to retirement for Saint Lucian pensions. Notably, several pensioners at present collect more than $500 every month, which is insufficient to cope with the impacts of inflation on everyday consumer goods.

Not only this but before July 2021, government pensioners used to get as little as $314 each month, while the National Insurance Corporation paid out less than $500 for its pensioners.

Prime Minister Pierre announced several other initiatives which have already been completed by his administration which includes the construction of first ever Micoud Jetty, launching the first ever semi professional football league, paid CXC fees for Math and English A, paid facility fees for every secondary school student, rolled out $5 million income support programme and established youth economy agency.

All these plans and procedures by the government of Saint Lucia are aimed at benefitting the citizens and residents of the island nation with the administration saying that their work is not done yet and they will continue to do more for the people.