Barbados

Basic country data

  • Population 60 and over (2018)
  • 61,916
  • % of total
  • 21.6%
  • Population 60 and over (2050)
  • 86,842
  • % of total
  • 30.3%
  • Total pension coverage*
  • 68%
  • Does the country have a social pension?
  • Yes
  • Region
  • Latin America & Caribbean
  • Income group
  • High income

% of older people (65+) receiving a pension, by type

Data on social pensions

Non-contributory Old Age Pension

Basic scheme information

Data on social pensions

  • Name of pension or programme
  • Non-contributory Old Age Pension
  • Year first social pension introduced
  • 1937
  • Legislative Underpinning
  • 1936 Old Age Pensions Act

2014

Barbados National Insurance Scheme: Non contributory old age pension (webpage)

Social Security Programs Throughout the World: The Americas, 2013

Eligibility criteria

2015

Social Security Programs Throughout the World: Americas, 2013

Adequacy

  • Monthly benefit (local currency)
  • 598 Barbados $
  • US$
  • 299
  • % of GDP per capita
  • 22.6%
  • $ PPP
  • 309.2
  • % of $1.90 poverty line (PPP)
  • 535%
  • Local amount detailed/other benefits
  • B$138 a week is paid. This results in a monthly transfer amount of B$598.
  • References and notes

2008

Barbados National Insurance Scheme: Annual report 2008

Coverage

2015

HelpAge calculation

Cost

  • Total cost (local currency)
  • 63,084,216 Barbados $
  • Cost as % of GDP
  • 0.7%
  • References and notes

Resources on the pension in Barbados

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