By Val Matthias. Updated 1:28 p.m., Sunday, February 22, 2026, Atlantic Standard Time (GMT-4).
Pensioners pressing for increases amid rising living costs were told by National Insurance Services (NIS) Executive Director Stewart Haynes that while the fund is financially stronger, any adjustment must be made cautiously and in line with actuarial guidance.
Speaking at the NIS Pensioners’ appreciation event, Haynes acknowledged that many retirees have raised concerns about the cost of living and asked about pension increases. He said management and the board “hear you, and we understand,” but stressed that pensions are a lifetime income and must be safeguarded for future generations.
“We are in a better position, using my actuarial lens, to possibly consider pension increase,” Haynes said.
“However, as customary, the increase in pension is enshrined in our law. It won’t be dictated by the Prime Minister, it won’t be dictated by the chairman, it won’t be dictated by the director. We would be guided by independent professionals around when we should increase and what amount.”
Haynes pointed to reforms that stabilised the fund after years of imbalance, noting that reserves now stand at more than half a billion dollars. He highlighted that in 2024, the NIS raised the minimum pension from $70 to $80 per week, benefiting 2,200 retirees, including 1,000 who saw a 14 percent increase.
He framed the issue as intergenerational, saying decisions must balance the needs of today’s pensioners with the sustainability of the system for children and grandchildren. “We don’t want to leave a broken system,” he said.
The event, themed “Legacy of Love,” brought together pensioners, staff, and government officials, underscoring the importance of pension security in national policy.
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