THE spending power of Jamaicans at various levels of the economic spectrum has been increased by virtue of several government programmes and policies over the last three years.

The Government has increased the national minimum wage, reviewed the compensation packages of public-sector workers, increased rates for National Insurance Scheme (NIS) pensioners and introduced a new pension programme.

The latest measure is the increase in the National Insurance Scheme (NIS) pension scheme, which took effect in June.

The pension rate increases range from 23 to 76 per cent and are applicable to retirement pension benefits, invalidity benefits and widows and widowers pensions.

For persons in receipt of full-rate pension, theirs have been increased by 23 per cent, moving from $3,400 to $4,200 per week.

The benefit for persons receiving three-quarter-rate pension has been increased by 37 per cent, moving from $2,500 to $3,500 per week, while pensioners receiving half-rate pension have seen a 76 per cent increase, moving from $1,700 to $3,000 per week.

On June 1, the income of minimum wage earners increased from $9,000 to $13,000 per 40-hour work week.

Prime Minister, Andrew Holness, said the Government is fully committed to providing minimum wage earners with a liveable wage, highlighting that the new rate represents a 44 per cent increase – the largest in 20 years.

Since 2016, the minimum wage has moved from $6,200 to $13,000, representing a 110 per cent increase over the seven-year period.

“We recognise that the contributions of minimum wage earners, such as household workers, artisans, labourers, store clerks, and security personnel, are vital to the success of our manufacturers, hotel professionals, lawyers, doctors, and teachers in meeting our national productivity and service targets,” the Prime Minister said.