Pension Payments Delivered

Finance Minister Don Downe has announced that payments have been sent to about 2,000 Nova Scotians who were covered under the provincial pension plan.

Mr. Downe said people who retired prior to 1983 are getting an increase in their pensions. The increases range from 0.6 per cent to 70.7 per cent. The increases are retroactive to July 1, 1998.

Before 1983,indexing for the pensions was limited to six per cent and did not reflect the increase in inflation.

"These people are the real victims of economic policies that failed to deal with rising prices," said Mr. Downe. "Those who lived on fixed incomes paid a real price for the years when governments built up debts and let monetary police run free."