New Ireland launches electronic pension payout system

National

THE New Ireland government launched its electronic old age and disabled pension payout system on Friday.
According to a statement, 582 pensioners in the Kavieng urban local level government (LLG) will be getting K500 each, an increase from the previous K360 they had been receiving since the policy’s inception in 2009.
Present at the launch were more than 100 Kavieng urban LLG pensioners, Bank of South Pacific deputy general manager (retail banking) Kili Tambua, Kavieng branch manager Mathias Manowo, New Ireland government partners and participants from the Nimamar and Tanir LLG taking part in the New Ireland government’s community awareness programme.
The New Ireland government subsidy office-in-charge of the old age and disabled subsidy scheme has been working in partnership with BSP to ensure all pensioners are hooked up to the electronic system.
Government subsidy chief executive and acting provincial administrator Mactil Bais said the electronic payment system would reduce costs by up to 10 per cent of their annual budget. “We have decided to embrace technology and stay in tune with the changing times,” he said.
“The system has minimised the risk of carrying cash to deliver to all pensioners.”
Tambua congratulated the New Ireland government for its old aged and disabled policy.
He said the electronic banking was the way to go as it would also encourage the culture of banking and saving in the village level.
“BSP will stand with the New Ireland government to make sure the manual to electronic conversion happens,” he said. “It will remove the cost of making the transaction and promote the savings culture.
“Coming down to the village level, we can convert trade stores to BSP merchants so you don’t have to travel all the way into town to withdraw cash and the New Ireland government is one step ahead.”
Another announcement made was the inclusion of payments for Namatanai locals.
Currently, on the New Ireland government’s old aged and disabled data-base system, there were 11,300 beneficiaries of the pensions.