First law: 1944 (old-age assistance).
Current laws: 1969, 1981, 1986, 1989, and 1992.
Type of program: Social insurance system.
Exchange rate: U.S.$1.00 equals 157 Guyana dollars (G$).
Employed persons aged 16-59 (public and private) and self- employed. Voluntary coverage for the previously insured.
Exclusions: Employees earning below G$7.50 per week, casual and subsidiary employment, and family labor.
Insured person: 4.8% of earnings. Self-employed, 10.47% of income up to insurable limit. Voluntary contributors, 8.17% of average weekly income in last 2 years before cessation of work. No contributions beyond age 60.
Employer: 7.2% of payroll. 1.53% for insured persons under 16 and over 60 years of age.
Government: None, except as employer. Makes loans to cover deficits.
Maximum earnings for contribution and benefit purposes: G$10,615 per week.
Above contributions also finance cash sickness, maternity, and work-injury benefits (except self-employed).
Old-age pension: Age 60 with 750 weeks of contributions paid or credited of which 150 must be paid contributions. 25 weeks credited for each year over age 35 in 1969; maximum credit, 600 weeks. No retirement necessary.
Disability pension: Aged 16-59 and permanently disabled; minimum of 250 weekly contributions credited, with at least 150 weeks paid (25 weeks credited for each year between commencement of disability and age 60).
Survivor pensions: Deceased was a pensioner or eligible for pension at death; or aged 16-59 with a minimum of 250 weekly contributions paid or credited, with at least 150 paid contributions.
Old-age pension: 40% of average weekly covered earnings during highest 3 years out of the last 5 years of work before age 60.
(Increased by 1% of average weekly covered earnings for every 50 weeks of contributions in excess of 750, up to maximum of 60%.)
Minimum benefit: 50% of minimum wage.
Old-age settlement: 1/12 times average annual covered earnings for every 50 weeks of contributions paid or credited, if ineligible for pension, but with at least 50 weeks of contributions before age 60.
Disability pension: 30% of average weekly covered earnings over the highest 3 years out of the last 5 years before becoming disabled.
(Increased by 1% of average weekly covered earnings for every 50 weeks of contributions in excess of 250, up to maximum of 60%.)
Minimum benefit: 50% of minimum wage.
Disability settlement: 1/12 times average annual covered earnings for every 50 weeks of contributions paid or credited, if ineligible for pension, but with at least 50 weeks of contributions (must be under age 60).
Survivor pension: Widow or widower. 50% of old-age or disability pension paid or payable. 16-2/3% supplement for each child, up to three children. Lump sum if not fully insured.
Orphans: 33-1/3% of pension paid or payable; maximum benefit 100% of pension.
Funeral grants: G$7,260 upon death of insured; grant also paid on death of spouse.
Minister of Finance, general supervision.
National Insurance Board, administration of program.
First and current law: 1969.
Type of program: Social insurance system. Cash benefits only.
Employed persons (public and private) and self-employed, aged 16-60. Exclusions: Employees earning below G$7.50 per week, casual and subsidiary employment, and family labor.
Insured person: See pension contributions above.
Employer: See pension contributions above.
Government: None, except as employer. Makes loans to cover deficits.
Cash sickness benefits: 50 weeks of contribution and work in covered employment during 8 out of 13 weeks immediately preceding onset of incapacity. Under age 60.
Cash maternity benefits: 15 weeks of contribution of which 7 are during 26-week period ending 6 weeks before confinement.
Cash maternity grant: Worker or spouse meets requirement for maternity benefit.
Sickness benefit: 70% of average weekly covered earnings during the best 8 weeks of work in the 13 weeks before commencement of incapacity.
Payable from 4th day of incapacity up to maximum of 26 weeks.
Maternity benefit: 70% of average weekly covered earnings during the best 7 weeks of work in the 26 weeks before commencement of the benefit. Payable for 13 weeks including week of confinement plus 6 weeks before and 6 weeks after. Extended up to 13 additional weeks, if complications arise.
Maternity grant: G$2,000
Medical benefits: None under insurance.
(Medical care available in public hospitals and health centers at cost scaled to income.)
Minister of Finance, general supervision.
National Insurance Board, administration of program.
First law: 1916.
Current law: 1969.
Type of program: Social insurance system.
Employed persons (public and private).
Exclusions: Employees earning below G$7.50 per week, casual and subsidiary employment, and family labor.
Insured person: See pension contributions above.
Employer: See pension contributions above. (Also pays additional 1.53% of insurable earnings to finance employment injury for workers under age 16 or over age 60.)
Government: None, except as employer. Makes loans to cover deficits.
Work-injury benefits: No minimum qualifying period.
Temporary disability benefit: 70% of average weekly covered earnings during the best 8 weeks of work in the 13 weeks before occurrence of injury. Payable after 1st day, if injury lasts more than 3 days, up to 26 weeks.
Permanent disability pension: Rates same as for temporary disability, if permanent disability is 100%; proportionally reduced when disability partial but not less than 15%. Lump-sum benefit equal to 260 times the weekly injury benefit times the assessed percentage of disability, if disability is less than 15%.
Medical benefits: Hospitalization, general and specialist care, medicines, and transportation.
Survivor pension: 35% of weekly earnings for widow, widower, or parent and 11-2/3% for each dependent, up to maximum of 70% of weekly earnings. Minimum pension for widow, widower, or parent: 50% of old age, disability minimum pension; minimum pension for child: 16-2/3% of old age, disability minimum pension.
Orphans: 23-1/3% of weekly earnings until age 18. Minimum pension: 33-1/3% of old age, disability minimum pension.
Death benefit: Up to G$250 to insured person's creditors or estate, if no dependents to receive death benefit.
Minister of Finance, general supervision.
National Insurance Board, administration of program.