Guyana: NIS Payment Options Expanded for Pensioners in Guyana

NIS pensioners in Guyana now have additional options for receiving their payments, as announced by Ramesh Persaud, Chairman of the National Insurance Scheme (NIS) Board. The new payment methods include Mobile Money Guyana (MMG), Bill Express, and Moneygram. This announcement was made during the launch of these services, which coincided with the 600th monthly board meeting of the NIS.

Finance Minister Dr. Ashni Singh highlighted that NIS pensioners can now encash their vouchers at a total of 4,779 locations across the country. This includes 52 Bill Express locations, 55 Moneygram outlets, and 4,672 MMG locations. Previously, nearly 40,000 of the over 60,000 NIS pensioners could only access their funds at a limited number of commercial banks, 14 NIS offices, or 63 post offices nationwide.

Dr. Singh emphasized that there should be no need for pensioners to wait in line to receive their payments. Currently, about 20,000 NIS pensioners receive their pensions directly into their bank accounts, a significant increase from 11,932 in 2020. The Finance Minister encouraged the remaining 39,052 pensioners who still receive payments via vouchers to consider switching to direct bank deposits.

He also urged the NIS to initiate a public communications campaign to inform pensioners about the benefits of direct bank transfers. Additionally, Persaud noted that the number of claims has decreased to under 3,000 per month, with approximately 2,000 claims being processed within two weeks. The NIS Board Chairman mentioned that the agency is working on developing online platforms to facilitate communication with pensioners from home, expected to be available this year or next year.

Source: demerarawaves.com