The Caribbean Community of Retired Persons (CCRP) has welcomed the tax relief for pensioners, announced by the finance minister.

During his presentation to open the budget debate on Tuesday, Dr Nigel Clarke noted that the pension exemptions were last reviewed in 2009, and that for the sake of equity, this needs to be updated.

The exemption will be increased to $250,000 up from $80,000.

The changes will take effect in the first quarter of the next fiscal year.

In a statement, the CCRP welcomed the announcement of a substantial increase in pensions and tax relief for pensioners.

It said it has been advocating for this relief since 2022.

The group had intensified its lobbying last year, after an elderly woman raised concern about increases under the pension scheme.

The CCRP’s advocacy related to appeals for the finance ministry to adjust pensions, to facilitate a better standard of living so persons age with dignity.

The group noted Dr Clarke’s acknowledgement that the government is listening, commended the minister for giving an ear to the appeals of the CCRP.

It had asked government to double the $80,000 tax relief ceiling and government delivered with a $250,000 ceiling.

The CCRP expressed appreciation for the minister’s compassionate response.