Four billion dollars is spent every year on payment of senior citizens pension by the government.
The disclosure comes from Minister of Finance, Colm Imbert, while speaking in the House of Representatives Monday on the Motion Adopt the Report of the Standing Finance Committee.
Minister Imbert said this development is being closely monitored by the ruling administration.
The Finance Minister said at this time the number of persons who receive senior citizens pension is now in excess of one hundred thousand.
Minister Imbert said the government is doing what is required to ensure eligible persons are on the list for benefiting from this arrangement.
Mr Imbert also indicated the Social Development and Family Services Ministry has been doing what is required to rid the programme of inefficiencies in the system.