“Courage” is needed to make changes to SS Fund, PM Drew says
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“Courage” is needed to make changes to SS Fund, PM Drew says
“Courage” is needed to make changes to SS Fund, PM Drew says
Post Credit: VON Radio
“Refining Today, For A Sustainable Tomorrow” was the theme for a Stakeholder Reform Conference, which was hosted by the St. Christopher and Nevis Social Security Board hosted on April 21st at the St. Kitts Marriott Resort.
Discussions centered on strengthening the sustainability of the system, safeguarding benefits, and ensuring long-term economic security for current and future generations. Prime Minister and Minister with responsibility for Social Security is Dr. Terrance Drew.
PM Dr. Terrance Drew. Social Security is a compulsory insurance fund, which began operations on February 1st 1978, taking over from the National Provident Fund. It was basically a retirement savings scheme with other benefits.
In the last few years, Social Security Board has hosted discussions and public consultations regarding its proposed changes to its regulations and requirements, as part of efforts to maintain the sustainability of the fund. Topics such as changes in age eligibility, the contribution rate and injections made into the fund have been discussed.