President unveils one-off payment for pensioners with insufficient NIS contributions

The one-off payment breakdown for pensioners who retired making contributions between 500-749 to the National Insurance Scheme (NIS) was this morning announced by President Irfaan Ali.
Ali had last year announced that government would inject $10b into this year’s budget to help pensioners facing hardship and to assist those who don’t have the required number of contributions.
“As a result $10b was provided as a one off-transfer for those who have 500 but less than 750 contributions,” the President said.
He explained the following breakdown of the payment as follows:.
500-549 contributions = One-off $260,000
550-599 contributions =One-off $390,000
600-699 contributions = One-off $520,000
700-749 contributions = One-off $650,000

Payments will begin from tomorrow.