Thousands of National Insurance Scheme pensioners will now have more options to receive their monthly payments without having to endure long lines.
The NIS has introduced three new payment channels, expanding access to nearly 4,800 locations nationwide while the government continues to encourage pensioners to opt for direct bank deposits.
Gone are the days when pensioners had to rely solely on NIS offices and post offices to collect their monthly payments.
The National Insurance Scheme has launched three additional payment options- Bill Express, MoneyGram and Mobile Money Guyana, bringing the number of locations where pension vouchers can be cashed to 4,779 across the country.
Finance Minister Dr. Ashni Singh says the government wants fewer pensioners standing in lines and more making use of direct bank deposits.
“Having started in 2020 with 11,932 direct bank recipients of pensions, I’m extremely delighted to report that that number has more than doubled by 2026 and today we have 24,415 persons receiving their pensions directly into their bank accounts. That’s a 105 per cent increase,” he said.
However, over 39,000 pensioners still use pension books each month. The Finance Minister says while the government will not force anyone to switch, pensioners are being encouraged to embrace the more convenient options available.
“To the 39,052 pensioners out there who still go physically and uplift a pension book and then go somewhere else to encash the pension, the leaves in that pension book, to all of you who have a bank account, I want to urge you to exercise the option of utilizing the direct payments into the bank,” he stressed.
According to the Finance Minister, the expansion forms part of the government’s wider push for financial literacy and inclusion, ensuring citizens have easier access to services while promoting greater use of the formal banking system.