The pensionable age in Dominica is set to increase to 63 years effective January 2017.
The current pensionable age is at 62 and half years old and Deputy Director of the Dominica Social Security, Augustus Etienne, told Talking Point on state-owned DBS Radio that the increase is “in keeping with efforts to sustain the Social Security scheme.”
“Come January 1st the age is going to go to 63 years. For a person who hasn’t met the qualifying contribution requirements, 63 in 2017 is the age that they need to become pensionable,” he said.
Etienne stated that no one will qualify for pension between the periods of January to June 2016.
“If they become 63 at that time, they would have become entitled in 2016 at 62 and a half years old,” he explained.
Etienne stressed that persons will become qualified at age 63 from July 2017.
Contribution rates applicable to all categories of contributors are to follow with a change where there is a quarter percent increase effective January 1st 2017.
The changes in details are as follows: Employees who were previously paying 5.25% will now be paying 5.50%. Self employed persons who contributed 11.25% will now contribute 11.50% and Voluntary contributors who were paying 9.9% will now pay 10.15%.