[ad_1]
On August 1, 2024, Saint Lucia achieved an important milestone by implementing its first ever statutory minimum living wage.
Guided by the Minimum and Living Wage Commission (established in 2022 under the Government of Philip J. Pierre), this historic move ensures that no worker in Saint Lucia earns less than the revised standards.
The committee consulted with local private sector leaders and employers to determine an initial minimum wage, which was subsequently revised to $1,130 per month, or $52.00 per day or $6.52 per hour.
According to a statement from the Office of the Prime Minister (OPM), the new minimum wage will result in increased wages for nearly 13,000 people, further stating that these people will be better off financially today before Prime Minister Pierre takes office in July 2021.
Eligible employees can expect a change in their pay from October 1, 2024. The new living wage will ensure that no worker in Saint Lucia is paid less than the revised wage.
The transition period lasts until October 1, during which time employers can adjust their practices to ensure full compliance with the new regulations.
Meanwhile, the Prime Minister introduced a bill to Parliament in June to amend the Pensions Act, which guarantees an increase in the monthly pension of government pensioners to $725.
In line with the Government’s renewed efforts to empower more Saint Lucians and increase their spending power, the National Insurance Corporation (NIC) has decided to increase the monthly pension payment to $500. Three thousand four hundred and thirty-eight (3,438) NIC pensioners will benefit from the increased monthly payment.
“The late Sir George F. Charles dedicated his life to serving the Saint Lucian working class, and these tenets led to historic legislative reforms. The people-first policies implemented by Saint Lucian Prime Minister Philip J. Pierre and the Government are a continuation of this great legacy,” the Office of Personnel Management said in a statement.
[ad_2]
Source link
