Puerto Rico administration seeks pension increases despite fiscal board objection

The administration of Governor Jenniffer González Colón is pursuing a mechanism to increase certain pensions despite objections from the Financial Oversight and Management Board. The Board has characterized the proposal as fiscally irresponsible.

Jean Peña Payano, Secretary of Public Affairs, stated that the Executive branch is willing to negotiate with the Board and the Legislative Assembly to find alternatives. The goal is to assist more than 55,000 pensioners who currently receive less than $1,000 per month. The administration's proposal includes evaluating an increase for the lowest pensions to a minimum of $1,000 monthly.

Peña Payano highlighted the economic hardship faced by retirees, noting that some receive as little as $450 per month. He emphasized that the administration will explore different formulas if the original proposal cannot be implemented, asserting that the government must address the poverty conditions affecting teachers, police officers, and other retirees.