28 Nov 2011

World Bank economist recommends pensions for all over seventies in Fiji

4:23 pm on 28 November 2011

A World Bank economist says a universal basic pension for everybody in Fiji aged seventy and over is the preferred option for Fiji.

The World Bank says Fiji needs a basic old age pension as the elderly are not adequately covered under current social frameworks exposing them to a higher risk of poverty.

Senior Economist, Alex Ivaschenko, says it has provided several scenarios and it understands the interim government favours the seventy plus option.

He says a universal monthly pension which is not means tested is easiest to administer.

"I don't know what will be the ultimate size of the benefit but they're considering numbers ranging from 30 to 90 Fijian dollars. Maybe it's going to be 60 Fijian dollars and on top of that maybe $30 in food vouchers."

World Bank senior economist Alex Ivaschenko