Population on the decline

Prime Minister Mia Amor Mottley has provided more context for the decision to increase the pensionable age and other changes.

She noted Barbados’ population is on the decline, according to the 2020 Census, which started in 2021 and concluded at the end of September 2022.

It shows that from 2015 to 2021 more children were being born than people dying.

In 2022 however, the opposite was true, with the country recording 2274 births and 3349 deaths.

Prime Minister Mottley says while policymakers have been speaking about future declines to the population, the actual population statistics were stunning.

The Prime Minister says it means policymakers must work harder to get more people in the National Insurance system, as she revealed plans to modernise its administration to make the process easier.

But she’s cautioned Barbadians not to rely on the NIS pension as their only source of income in their latter years.

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