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'Retired' describes a person who has ceased to work.
'Retired' describes a person who has ceased to work. It generally refers to people of pensionable age, who no longer work (65 for men, 60+ for women). Being 'retired' means that a person is no longer in employment, paid or voluntary. Providing guidelines have been followed, retired people can receive a Government pension, known as 'Old Age Benefit' or 'NIS pension'. If not enough NIS contributions have been made, a retired person can apply for an Old Age Benefit grant.
In order to qualify for an Old Age Benefit pension:
If a retired person receiving the Old Age Benefit/NIS pension goes back to work they must inform the NIS office and surrender their pension book. If required, they must start making NIS contributions again.
A Spouse Allowance may be granted, if married or in a common-law relationship, for people with an Old Age Benefit or Invalidity Pension, providing;
|Effective from||Full Basic Weekly Hours (39 & over yearly average)||¾ Basic Weekly|
(26 - 38 hours)
|% Basic Weekly |
(13 - 25 hours)
|13 January 2013||$2,800.00||$2,100.00||$1,400.00|
If a person has not made 156 weekly contributions, they are not entitled to the Old Age Benefit pension. However, if they have made a minimum of 52 weekly contributions, they may apply for an Old Age Benefit Grant. The claim must be made within 12 months of the date of entitlement. If in time and granted, the money awarded will be a single payment by cheque.