In a recent analysis program with journalist Tania Costa, economist Elias Amor responded emotionally to an account by Maribel Fajardo, a resident of Alamar in East Havana. Fajardo described the dire situation faced by retirees in her area, who are unable to collect their pensions after spending entire days in line at a bank in Zone 1, which remains non-operational due to a lack of electricity.
Fajardo's message, shared during the program's live chat, painted a picture of a widespread reality across Cuba: "Hello, please don't delay because all of us pensioners are going to die waiting in line for five days or more. I'm from Alamar. We never have power. The staff sits at the bank's entrance all day unable to do anything, and by 3:30 pm, they pack up and leave. They stick to their hours while pensioners faint from hunger, hoping to collect their pensions, only to leave worse off than when they arrived."
Amor reacted to her testimony with both pain and sharp criticism. "The saddest part is, my friends, you hear these stories and can't imagine how much it hurts us, being away from Cuba, to know what our fellow citizens are enduring. It breaks my heart," the economist expressed sincerely.
He continued with a direct critique of those in power. "It's an unfathomable situation, that those in charge of the communist regime in Cuba don't step aside to let others improve the economic conditions. It's very painful, and I say this with all sincerity."
The Economic Struggles Behind the Scenes
Fajardo's account came amidst discussions about a controversial proposal by the Central Bank of Cuba suggesting that small businesses and self-employed workers advance pension payments to retirees in cash, later receiving a compensatory transfer from the state, with some estimating a 5% commission. Amor labeled this idea as "nonsense" and "madness," demanding its immediate cessation.
The plight of Cuban pensioners at the banks is not an isolated issue. Scenes of elderly individuals enduring hours under the sun have been repeatedly documented throughout 2025 and 2026. In July, RTVE reported that some pensioners receive as little as 3,000 Cuban pesos, roughly equivalent to four euros, after waiting days to collect.
Structural Challenges and Government Responses
The crisis is deeply rooted in structural issues. With over 1.7 million retirees, 27.6% of Cuba's population is over 65, one of the world's highest percentages. The minimum pension is set at 4,000 pesos per month, less than 10 dollars on the informal market. In June, the provincial government of Granma publicly admitted it lacked the over 400 million pesos needed to pay its 111,000 retirees, highlighting the state's financial struggles.
In response, the National Assembly approved a package of 176 economic measures on June 18, which includes the pension payment scheme through local businesses. This initiative was piloted in four Havana municipalities starting in April and expanded to Holguín in May, where about 20 small businesses began paying nearly 5,000 retirees. The Central Bank announced a nationwide rollout of the scheme in July.
Amor critiqued the official package succinctly: "And you see, they've come up with 176 measures, each more absurd than the last, and we've discussed them on this program."
Understanding the Pension Crisis in Cuba
What is causing the pension crisis in Cuba?
The pension crisis in Cuba stems from structural economic issues, including the government's inability to meet financial obligations and the high percentage of retirees in the population.
How are Cuban pensioners affected by the bank queues?
Cuban pensioners face long waits in bank queues, often without success in collecting their pensions due to power outages and systemic inefficiencies, leaving them in dire conditions.
What measures has the Cuban government taken to address the issue?
The government has introduced a package of measures, including a scheme that involves local businesses advancing pension payments to retirees, though this has been met with criticism.