More than 60,000 National Insurance Scheme pensioners can now access their monthly benefits through three new payment channels, following a launch on Wednesday that adds nearly 4,800 locations nationwide where payments can be received or cashed.
The initiative, unveiled during the NIS Board’s 600th meeting, introduces partnerships with Mobile Money Guyana (MMG), Bill Express and MoneyGram.
Senior Minister in the Office of the President with Responsibility for Finance Dr Ashni Singh said the expansion adds 4,779 new access points across the country.
“By adding 4,779 new locations, I believe we are making a giant step in improving the ease with which NIS pensioners can get their pensions,” he said.
Under the new arrangements, pensioners can receive payments through MMG wallets or cash their vouchers at Bill Express and MoneyGram locations. Previously, they relied primarily on NIS offices, post offices and participating commercial banks.
NIS Board Chairman Ramesh Persaud said the expanded network gives beneficiaries greater flexibility.
“A pensioner with a voucher is no longer restricted to the post offices. They are no longer restricted only to the offices of the National Insurance Scheme, but they have greater convenience of accessing their pension,” he said.
Claims processing times have also improved, with average periods reduced from more than two months to approximately one to two weeks, Persaud noted.
The number of pensioners receiving payments directly into bank accounts has more than doubled since 2020, rising from 11,932 to 24,415, Dr Singh said.
The new payment methods are optional. However, Dr Singh urged pensioners to consider digital options where possible and called on NIS to launch a nationwide sensitisation campaign to inform beneficiaries of the available services.
Pensioners wishing to use MMG must provide their MMG account details to NIS to receive payments through the platform. Physical NIS vouchers cannot be cashed at MMG agents. Funds paid into MMG accounts can then be withdrawn at authorised MMG agents nationwide.
