Pensions Increase: Pensions Increase Comes Into Force

21 January 2019

Pensioners are now able to enjoy increase in pension payment starting from this month.

The government made decision to raise pensions as part of the efforts to promote the livelihoods of the pensioners. Pensions increase was decided during the cabinet meeting No.22/2018 held on the 12th of December last year. According to the Notification No.101/2018 by the Ministry of Planning and Finance, increase in pension payment starts this month, January 2019.

Pensioner, Nu Aung Chit said “No increase in my pension this month as my name is not on the list. But, the bank told me that I can enjoy the increased amount for this month together with my new pension payment once they get the new list. So those who are not able to withdraw the new pension payment now can claim next month. Although I heard the pensions increase, I don’t know how much I will collect. However, I’m very happy about it as it does support for us.”

Pensioner, Aye Moe Kyi said “I heard the announcement of the pensions increase, but I still collect the same this month … no increase. But they said I can get the new pension payment next month and can claim for the increased amount for this month as well. It’s really great and I’m very happy!”

Pensioner, Than Than Swe said “My name is not on the list so no increase this month. I was told that I will be able to enjoy the increase next month and can claim for this month later. I’d like to say Thank You to the stake holders for taking care of our welfare.”

Bankers assure those who are not on the list of new pension payment will be able to claim next month.

Manager, Myanmar Economic Bank (Kamayut Branch), Maw Than Htein said “At our bank, we have over 15,000 pensioners from civil, political and defense services. Last week, we received the pensions increase list which is only for 59 defense service pensioners and 127 political service pensioners - it was calculated and documented by the concerned department. We haven’t got the list for civil service pensioners. So I want to assure those who didn’t receive their new increased pensions this month will be able to claim and withdraw next month. Once we get the list, we won’t hesitate.  E-pension card holders can withdraw from the 21st this month to the end of this month.”

According to the official data, there are over 600,000 pensioners in Myanmar.