The National Insurance Scheme (NIS) gets into action this year to begin its gradual pensionable age increase from 60 to 65 years over the period 2024 to 2029.
Pensioners will, however, continue to be eligible for a pension from age 60.
The changes have come about as being necessary with the proposal for the NIS to address the rapid depletion of its reserves and based on several actuarial reviews.
The moves by the NIS have been considered as a matter of urgency.
Director of the National Insurance Scheme, Dorset Cromwell.
Well, as it relates to the adjustments to social security benefits, an NIS Information hotline has been established to provide information in understanding and navigating the changes.
The proposed changes are seen as a move to save the National Insurance Scheme.
