We have received the much awaited update from John Skinner on our proposed pension increases from retired Inspector John Skinner who wrote as follows:-
One of our ExPo members recently wrote, “Correct me if I am wrong but, were retirees supposed to get an increase (one-off) at the end of April? Seems like we were not included as Gov't retirees. Some of us have not received an increase that we were looking foward to receiving.
Have you got an update or any further info on this?
I replied that it was due to be discussed yesterday, Friday 29th May 2026, but that I had not seen anything in print yet.
I have now had some time for research and found that BERNEWS carried an audio report from the House. CLICK HERE to view the BERNEWS audio.
If you go down the page to the YouTube video and start listening at 55 minutes (patience - it really starts about a minute later) you will hear all that was said by the Premier. Also there are some audio gaps but the relevant passage lasts about 20 minutes.
Two things I believe that I heard correctly were:
- The effective date of a 10% increase in our pensions is 01 April 2026.
- The payments will start in October and will include back pay.
Also there is an attachment link showing the Public Service Superannuation (PSSF Stabilisation) Amendment Act 2025, which I believe was the Act being amended. Listening to the reading of the Section Numbers which are being amended is read at a speed which might overwhelm you, so attached hereto is a copy of the actual legislation. (Editors note - I can't get the attachment to open)
I trust that someone with a better knowledge of finance than me will review his speech and then send us a layman's version that we should be able to understand.
John Skinner
The Royal Gazette subsequently pubished an article on 31st May confirming John's understanding of the amendments to the Public Service Superannuation Amendment Act 2020. The article reads as follows:-
House approves ‘clarification’ of public service pension Act
The House of Assembly has approved amendments to two past Budgets, as well as clarifications to the Public Service Superannuation Act.
David Burt, the Premier and Minister of Finance, said the Public Service Superannuation Amendment Act 2026 introduced a series of changes to the legislation to reflect the original intent of policy reforms approved last year, which would improve clarity and remove inconsistencies
He said: “This is a technical, housekeeping Act. There are no changes whatsoever insofar as policy and the matters that were agreed with the unions prior to us advancing these reforms.”
Mr Burt said that the Government has begun work to stabilise the Public Service Superannuation Fund and ensure that the pension plan was on a stronger footing for the long term.
He added that the changes also gave the Government greater room to increase pensions for retirees, noting that earlier in the session the had tabled legislation to increase pension benefits.
Mr Burt said that public sector retirees would receive a 10 per cent increase on their pensions and, while the increase is effective April 1, the funds would not be paid until October.
Douglas De Couto, the Shadow Minister of Finance, signalled the One Bermuda Alliance’s support.
The House also approved Supplementary Estimates for 2023-24 and 2024-25, which noted higher than originally forecast spending on overtime within the Department of Corrections and Bermuda Fire and Rescue Service among other line items.
However, Mr Burt noted that the supplementaries for both years were “technical”, explaining: “A technical supplementary indicates that the requirement for additional funding can be met, and was met, within the originally appropriated estimates.”
He also said that with the supplementaries taken into account, the budget deficit for 2023-24 was $29.5 million, $14 million less than the original estimate of $43.5 million, while the 2024-25 budget surplus was $29 million above the original forecast surplus of $210 million.