Pensionable age to increase

The age by which people can receive their pensions from the Dominica Social Security (DSS) is expected to go up incrementally by six months annually over the next ten years.

Under the newly amended Social Security Act passed by Parliament on Wednesday, the gradual increase in the pensionable age is expected to threshold at age 65 in 2021, according to officials of the DSS.

From next month (March), the pensionable age will be sixty and a half years.

But the age will change annually, with it being 61 years by next year, given the six months being added annually until 2021.

The changes approved by parliament will also mean an increase in contribution rates from workers and their employers.

The DSS says that increase will be a gradual one, with an overall increase of 5 per cent over a 20 year period.

Officials say that from the 1st of March (2012), the rate will increase by a quarter of a per cent every year until 2031.

With the existing rate being 4 per cent, the first increase due in March will see employees paying 4.25 percent, by next year 4.50 per cent, with the proposed quarter of a percent increase being applied annually.

Social Security officials say the method is a fair one that’ll prevent an abrupt sharp increase.

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70 Comments

  1. When rain falls.....
    February 24, 2012

    Do some Research. Google “Barbados Free Press about CLICO’s scandals” and see what you come up with. DSS facing sustainable issues. DSS experiencing disastrous investments in the failed CLICO. Dominicans pay for it.

    Read from the Barbados Free Press about CLICO’s former Manager and CLICO’s financial abuses and political fundings of political parties. Who in CLICO received a Dominican Diplomatic Passport and for what reason?

    DSS biggest debtor is Govt. Govt. owed DSS, at the end of the financial Year 2010, over EC$111 million in bonds and Treasury Bills alone. Added to that, Increase in unemployment resulting in decrease in contributions to DSS. Economy is in serious decline. Very little investments in the productive sectors like Agriculture, manufactuiring and so. The country is not generating revenue.

    Imagine the biggest revenue earner is VAT. 15% VAT on goods and services. People are heavily taxed and BAWLING consistently about the high VAT rates. Cost of living increasing daily, while wages/salaries remain constant for Years. But who cares? Many people do not bother what happens with their money, whether it is stolen or/and mismanaged.

    Again, this time around, it is Dominicans who have to face the music. The rain is falling on everybody’s roofs. The Mighty Sparrow sang decades ago, “We like it sooooooo.” Even when the RICH is getting RICHER, while the POOR are getting POORER, many among us like it so.

    The amendments made re. the DSS saga is like putting plaster on a sore without proper diagnosis of the problem and effective solution to finding a cure. TIME will TELL.

    • Cerberus
      February 26, 2012

      The exposure to Clico and British American by DSS at the end of 2010 was E.C.$.15 million and provisions have already been made for most, if not all of this to be written off. Isn’t it ironic that any fiancial contributions made to the DLP’s election fund by these companies are indirectly financed by our own social security contributions?

  2. Morihei Ueshiba
    February 24, 2012

    Dominicans better of not paying social security and saving this money in the bank. We cannot rely on dem fellas in these hard economic times.

    • Malatete
      February 24, 2012

      Unfortunately, most of our working population don’t have this choice. If you are gainfully employed contributions to the DSS are COMPULSORY, they are deducted from your wages before you receive your money. Yes, your money to provide for you in old age but you have no say how it is spent or invested.

  3. ROSEAU!
    February 23, 2012

    Lets placed some emphasis in passing the bail act and other laws as it relates to our court system. Yes we can!

  4. malaway child
    February 23, 2012

    Father God help us in this country. You think I want to live my Golden yrs like minister Savarin. Now the man should be retired, enjoying life with his Grand children and wife he their playing politics at 70yrs and above. The man can’t even speak in parliment but he there. Give a younger person a chance to gain some experience in the house.

    Anyway let me say, them politians wicked like f…..! Don’t worry, God will see us through.

  5. Dominican in Antigua
    February 23, 2012

    What a damn shame…….. Killing yourself in Dominica just ain’t worth it.What about persons who are 59 and anxious to enjoy their retirement?????? Who makes these senseless decisions? Why do poor people have to always suffer and be the sacrifice? Don’t the average person have a voice no more? Governments are servants for the people. If is a dictatorship skerritt wanted why didn’t he and his groones just say so. That just piss me off. That is why I don’t want to work in Dominica.

  6. Magwesah
    February 23, 2012

    Ridiculous. By the time i retire i have to wait ten years to collect social security. The little money i struggling to save now wont last that long. So i have to depend on the kindness of family and you know how those there are. Its not fair. Best they had give me my money let me save it for when i really need it. I can’t understand how my government can cause the present income generating population to suffer so in the future.

  7. ineedfree
    February 23, 2012

    Enlightened,

    you seem confident of your enlightenment but if you are saying that ss is not a bank,and they are constanly lending and investing, dont they have a responsibility to the stakeholders(not government or clico but the contributors) to give true account of their finances?

    Who are the real beneficiaries in the case?
    ….government, clico, or the people.

    One day the glaze that is constantly swept over people’e eyes will simply be known as the deception,,,one day, just one day

    • Cerberus
      February 23, 2012

      In all fairness, Dominica Social Security do give an account of their finances, which is open to public scrutiny. Their last report, for the financial year ending 31 Dec., 2010 is available on line – just look for Dominica Social Security report 2010. Perhaps the problem is that, generally we do not read “stuff” like that!

  8. Francisco Telemaque
    February 23, 2012

    In the more developed nations, the retirement age is sixty-five years old, however, people do have the opportunity to retire at age sixty-two, and receive a reduced amount of what they would have received if they waited until they are sixty-five years old.

    Nevertheless, when they get to be sixty-five years old, they receive the full amount that is due, assuming at age sixty-five the total amount they would have received is a hundred dollars, if they retire at age 62, they may only get seventy-five dollars, but when they get to 65, the remainder of twenty five dollars are given to them continually until death; with increases in payments I believe every two years or so; I am not too accurate on how often the increase is given.

    There are also provision made in the our system that if someone is ill and cannot work, they also receive a social security disability check as long as they are disable and cannot work. Someone can be twenty years old, and find themselves unable to work up to age sixty-five they are paid social security disability, up to the day they become sixty-five years old.

    The day they turn sixty-five, it changes from social security disability to permanent social security payments. In our system, there is also something known as SSI (Social Security Insurance). What that does is if I came to the United States, legally, never work one day in this country, never contributed a dime into the system, and I get sick, ( and when I say I) that includes every foreigner, that person can go and apply for SSI, and if the doctors finds that person is ill, cannot function, due to mental illness or any other sickness which prevents them from working, that person can collect SSI for the rest of their life as long as they are sick!

    That is the law of the land!

    I would hope that if we do not have allowances such mentioned in our system yet, perhaps it is time to review the system, and make the changes to suite era in which we exists.

    Francisco Etienne-Dods Telemaque

  9. But How???
    February 23, 2012

    WHAT THE HELL IM READING THERE NA…. I LOVE THE ISLAND , BEAUTIFUL FOR SURE BUT DAMN THOSE POLITITIANS,, I ALREADY FEEL OVERWORKED AND UNDERPAID, U ALL STILL INCREASING THE RETIREMENT AGE…… IM GONNA GO INTO BUSINESS FOR MYSELF… TO HELL WITH WORKING FOR THE GOVERNMENT…..IM DONE-

  10. oj
    February 23, 2012

    What is the life expectance of Dominica?

    • February 23, 2012

      the real question is what is my and your life expectancy??? thing is the more they increase it, is the harder many people will live long enough to enjoy it

      • February 26, 2012

        I agree with you Mots

        Those people who objected to my comment below, do not understand that God wants us to live, but we have to accept this Life by our faith.

        This ideas is almost the same as what you mean when you said, that the more they increase the year of retirement, the harder many people will try to live longer enough to enjoy their pension income.

        Whatever a person natures in his/her mind, that is what will manifest in its distinctive form–the same is for living or dying. And so if a person is thinking Life for whatever reasons, that person will live, because Life is a promise from God to us, human beings.

        Those who do not accept Life will die–and of course very few human beings know how to accept this Life from God, because they do not follow Him and His ways of Life.

        FETele, and those of you who are quoting 3 score and ten, I am fully aware of that 70 year life-span. However the number which is exactly from the mouth of God is 120 years, where He said: “My Spirit shall dwell strive with man forever, for he is indeed flesh; yet his days shall be 120 years”. Genesis 6: 3

        This means that is the maximum number of years God will give to man who calls for Life, and especially for him to settle his Salvation with fear and trembling.

        God doesn’t want it that anyone should exist with the eternal torment of the second death–which is complete separation from His Spirit.

        Don’t know for the rest of you, but I am taking maximum. Most of the adults in my family who cam into this world long before me are in their 70’s 80’s or 90’s and still full of life. I ain’t accepting minimum, 3 score and ten, you see!

    • February 24, 2012

      @OJ

      You made me laugh, the way you asked the question. But not only in Dominica, to all people in the world, God gave us 120 years Life expectancy– Read about it at GEnesis 6. We just have to accept it by faith.

      We are good in Dominica though–or unless it is the older generation. Because so many people live past the 100 years.

      Anyway you guys are still better of than Canadian people who are looking to retire within the next few years.

      Our present Prime Minister is calling for us to wait until we are 67 in stead of 65–if he succeed with that preposition.

      The thing is that at the age of 65 some people can qualify for 3 different kinds of pension–which is work pension, old age pension, and a pension for low income people.

      You cannot imagine how much people will lose if the government raise the retirement age to 67.

      Boy Oh boy!

      • Malatete
        February 24, 2012

        Wish I could share your optimism. Biblical lifespan (Leviticus 12) is traditionally known as three score and ten, which is 70 years and closer to reality.

      • February 24, 2012

        Liz, the one hundred and twenty years you stated God changed that, the same as how some people lived to more than nine hundred years and beyond, also in Genesis:

        That was also changed!

        You have forgotten: Three scours and ten; which in simply English amounts to seventy-years, and by reason of strength we may live beyond that.

        One scour equals 20 X 3 = 60 + half a score which is 10 = 70 years.

        Very few people have gone past eighty years into the nineties and died, and that is where by reason of strength comes into play, however people like my late grandmother, and her sister, and an aunt of mine lived beyond a hundred.

        My grandmother lived to be a hundred and three yeas old, right there in Wesley, she was born on January 1st 1890, and expired in 1993; I also had an old cousin who lived to be a hundred and five years old, that was the Philip lady in Wesley.

        So, with that said, one should anticipate that life expectancy in Dominica could be approximately 85 years plus or minus a few years.

        Francisco Etienne-Dods Telemaque

    • laura
      February 24, 2012

      Psalms 90:10:-The days of our years [are] threescore years and ten; and if by reason of strength [they be] fourscore years.

      Generally we should expect to leave 70 yrs if we have strength 80.

  11. Enlightened
    February 23, 2012

    There is nothing worst Dominica can do than mess up a Social Security scheme.
    It is one of the few perfect schemes in the world. When someone retires a job opening becomes available. So that means whenever they have to pay someone there’s a new person included in the scheme to contribute. This new person usually has an average of 40 years to work. The retired person in Dominica has an average of 10 years to receive payment. How could this go wrong?
    Let me give a little insight. Some people aren’t happy with what they have. So hence, money is borrowed and invested with the idea that the return on the investment will replace the borrowed principle with interest. Some money was borrowed as loans with the same idea of returns.
    The problem with that is SOCIAL SECURITY IS NOT A BANK. Our money is placed collectively so that we can sustain ourselves as a separate entity.

  12. lee
    February 23, 2012

    hmmmmmmm it looking like socail security doe wantt o give pple back dere money…….

    • donz
      February 23, 2012

      its better u save ur money in deh bank u have no problems taking it out

  13. Anonymous
    February 23, 2012

    I believe that too much focus is being placed on the retirement age, and not enough on the increments that will be implemented on an annual basis where workers will have to initially pay 4.25 % with an anual increase of .25 of a percent. These increments will be enforced until the year 2031, now if my math serves correctly that means that each employee will be paying 8.75% and God knows how much the employer will have to pay by the year 2031. This is course is in additional to income tax that is deducted from our salaries on a monthly basis. No mention of course has been made by Social security as to how much a pensioners monthly check will be raised to. What are we as citizens benefitting from this? Why is it that we knew nothing of this legislation that was passed?

    I am not against a country finding ways to be sustainable however I do resent the fact that the government is taking advantage of its citizens just because it has the authority to do so. What are the benefits to the pensioners and citizens of this country?

    • Anonymous
      February 23, 2012

      knew nothing about the passing of this legislation? it shows u are selective on the news u read or listen to. this was all over the media

  14. Hmm
    February 23, 2012

    Thats the plan. they extend the years to 65 …then you will have less people claiming their hard earned pension because less will live up to 65. and then by then their dependents will be over 21 for most ….so they wont have to pay your dependents either

  15. February 23, 2012

    This new policy leaves me with mixed feelings. As an initial matter, I fully support the increase in the retirement age to 65. At 60 people are still young and have amassed a wealth of knowledge and experience they can use to train younger workers. To retire at such a young age makes no sense. Also, the country cannot continue to support this ever-increasing number of retirees. So, let’s tap the brakes on this entitlement program and ensure that today’s workers will some day reap the benefits of their financial contributions. That said, I am concerned about the projected rate increases. The way the story is written, it appears that the employees’ rate will over time increase to 9%. Nine percent? In a country with an effective VAT rate of 17% and a maximum marginal tax rate of 30%?! Surely, the government must rethink this draconian fiscal policy.

    • Anonymous
      February 23, 2012

      Hello King Shakey
      Nice to see you pitching in on.the discussion on the Social security problem. However I have been saying and writing about this problem for a number of years now and most persons just considered me a nutty professor. The problem is rooted in the sharply declining birth rate coupled with increasing longevity. Unless the decline in the birth rate is reversed I am pretty certain further adjustments will have to be made. I will put up the graphs that illustrate the problem in another post.

  16. Anonymous
    February 23, 2012

    I struggling so much to make ends meet and provide the best I can for my children. I didn’t attend a single carnival activity because feeding my children is more important. The past 2 days I barely ate anything inorder to provide snack for my children at school. I have no loans, no hire purchase and I don’t own a blackberry. All I do with my salary is pay bills and buy food. My supervisor recently commented on the condition of the clothes I wear to work . I am aware of how washed out they look but my daughter is wearing clothes that are 2 size too small and I need to provide for her before myself. I live pay check to pay check and cannot afford to save. I take that back…I TRY to live pay check to pay check but my salary cannot last a whole month. I understand why this must happen but I cannot help but cry.

  17. JG Wenworth
    February 23, 2012

    If you have a structured settlement and you need cash now.. CALL- JG WENTWORTH – 877 CASH NOW..

    Its your money use it when you need it!

  18. February 23, 2012

    everywhere is the same story in France you work hard and when it come to touch your pension is like you waste your time working all those years because you touch next to nothing by the time you pay all your bill all te pension money is finish,please save money money before you take pension because if you don’t crapo will smoke your pipe

  19. Morihei Ueshiba
    February 23, 2012

    I love my pm!

  20. foo dog
    February 23, 2012

    dno what was wrong with my comment u decided to leave it out,d/ca is very frustrating now.those that can afford to run will certainly run but what about those who can’t.

  21. Shameless
    February 23, 2012

    En bonda zot! What was the election victory margin again? he he he he he he….he who laughs last laughs the best. Still they LOVE their PM. Take it like men and women and quit complaining.

    • Hate ignorance
      February 23, 2012

      It means that the unions have to negotiate harder now. THats why they love their PM. lol. lol,

  22. Trouble Intended
    February 23, 2012

    So everybody that is 59 and planing to retire next year can just forget it? WAW!!! The retirement age is going to out run a lot of us. In 2021 when the government will have to make the real big payments as a result of this change, the retirement age will be changed again…to 70…

  23. Oh yeah?
    February 23, 2012

    That’s right. Something is indeed happening and its so exciting. The country’s economy is in a big mess and this is an example of what is to come. We are heading straight back into austerity. Dominicans were fooled in 2000, fooled again in 2005 and allowed themselves to be fooled once more in 2009. 3 strikes, you are out. I have given up on this country. With all the political ignorance out there, there is absolutely no hope. I won’t be making any kids in Dominica, thank god!

    We were fooled with Stadium and “freeness” from china and chavez. But we are now going to pay back 27 million loan and other loans from china. Can anyone say PAYBACK? Doh even talk for the debt we owe Chavez. They fooled dominicans with “freeness” and now the chickens are slowly coming home to roost.

    Westay La! Ah choo zor!

  24. henri
    February 23, 2012

    while Mrs. Jean Jacques and Mr. Ettienne are busy telling people day and night how they have to wait to be 65 to receive their benifits, why don’t they tell people the real reason why they have to wait???, Tell the poor people of this nation that it was because of bad investments, bad investments in that insurance which packed up d/cans money are ran away, and poor people’s money are lost. You should apologise to the d/can public and ask their forgiveness for bad management and investment of poor people’s money. The both of you should seek the forgiveness of the nation and make a public retirement from the company. You are not fit to continue in the management of poor people’s money. Time for the two of you to step down !!

    • mouthofthevalley
      February 23, 2012

      and the thing that burning me there they were making their bad investments and we never even knew about it. If the investments had been successful would we even have heard about it??? would we have gotten some kind of dividend???

  25. Ileen
    February 23, 2012

    I hope this year there is no dinner at Fort Young, no emeralds or jewelry for the employees at DSS and all the uniforms at the cost of us all working people. I hope they start cutting back on that.

    • Cerberus
      February 23, 2012

      Valid question. In 2010 DSS spent E.C.$.5.182 million administering the scheme, or 12.2% of total contributions. In other words, out of every Dollar members contributed 12.2 cents went towards administration costs, leaving 87.8 cents (out of every 100 cents) for actual investment.

    • me..me..
      February 23, 2012

      i concur, DSS workers living large on poor people of this country’s back. Its unfair, they buy land at purple turtle, land in glanvilia, land at belle hall and the land just sitting there doing nofing and now they want to increase pensioners age? thats so dam unfair, well the best ting to do is doh work eh, so they will not get no dam money

  26. hold dem
    February 23, 2012

    seriously i am stressed, frustrated and feel there is no reason to live in Dominica anymore. my salary is small and i cannot get an increase, the cost of leaving is ridiculously high, bus fair is high, utilities worse than to bad. My family must be feed. HOW THE HELL AM SUPPOSE TO HANDLE THAT INCREASE IN SOCIAL SECURITY. SOMEBODY TELL ME, SO THIS IS THE ONLY OPTION? THAT ALONE GOING TO KILL US FASTER, i wont see the age of retirement.

  27. Ok
    February 23, 2012

    Everything increasing…..what about an increase in the benefits one will receive at age 65…because the cost of living would have increased also.

  28. ineedfree
    February 23, 2012

    walls gonna come tumbling down.

  29. Bishop
    February 23, 2012

    social security is a fraud. U pay social security for over 30 years when u will only recieve contribution from them for about 5 years, since the life expectancy in Dominica is about 70.

    the faster people retire is the quicke younger people get into the system since more oppenings will be created for the youth. I guess more people will now die in office as a consequence.

  30. Voice From The North
    February 23, 2012

    How on earth can Social Security increase pensionable age to 65? Does that mean people will have to work up to 65 before they can retire? and does it also mean they will not have to wait another 5 years before they can receive their benefits? In other jurisdictions people are opting as to whether they retire at 55 or 60, now the powers here are (in my own words )forcing people to work up to 65 yrs? How much more can we get from persons after they reach 60? Now what will happen to all those young people living school and retuning from studies. How do we expect them to get a job and how do we expect others who have been working for those long years and hoping to get a promotion when we are keeping other at work up to 65yrs? There are many more questions to be asked but what do they aim to achieve by doing so? And have they had enough consultation with the general public and the persons who contribute to Social Security to get people’s feedback? All I am seeing here is political and economic exploitation of the people. Those extra five years of contribution are not meant to increase the individual’s remittance when they retire but to build up Social Security coffers so that they can use it for purposes other than pension contributions.

  31. DD
    February 23, 2012

    I guess I will have to collect my money when I reach in my grave. Honestly I can say now, that country not for hard working people at all. Just working like a donkey and will only be able to see my pension when I reach 70 years. Yes father. Isle Beauty Isle Splendour.

  32. Sout Man
    February 23, 2012

    I hope that the increases in contributions are not used to increase the salaries of the fat cats at DSS. The funds must be saved and/or invested to sustain payments to the beneficiaries.

    • Rastafari
      February 23, 2012

      Sout Man, you are on the right track however, to be more specific, like Oh yeah? Said in a previous post, China and Venezuela have to get paid for their services rendered to Dominica in the form of loans and “freeness”. It’s payback time, baby! Prior to 1913, 5$ could feed a family of five (5) for a week in America, there was no such thing as TAXES. The IRS and taxes were introduced Dec. 24th, 1913. That gave the Feds control over the monetary system and they still to this day print US$ and loan it to the US government, and how do you suppose the government pays back the loans to the feds? (PRIVATE central banks) You guessed right, TAXES! Income tax, sales tax (VAT), social security… They tax everything until the poor man bleeds sweat and tears, only to find himself a slave to this horrible animal called TAXES, for the rest of his miserable life!! We NEED some modern Robin Hoods in Dominica!!

  33. February 23, 2012

    i’ve already told my young people that we won’t get any social security benefits…. not in dominica not in america.. not in london… not in timbuktu…. in 30 years time S.S as we know it will be a thing of the past… 401 k’s is a blood sucking money killer also… don’t go into that… research on the heartbreaks many american families are going through as the big boys take all their money… it is time to invest in passive income… or open up a business… hair salon and put your unemployed cousin or niece to run it… etc etc while you work… along the way save and invest in various businesses… you may not want to invest like the big boys.. well you can go into pennystocks where you can invest for e.g $10 and over a year time you might do a 500% returns on investment… microsoft and facebook started on the penny stock scale… so u get the drift… that’s all for now folks

    • Roz
      February 23, 2012

      Agree. It is time for us to get educated on investment options. Really, one must supplement the moneys expected from SS in the future. We need to dig deeper into the topic of financial independence in our older years. Cannot rely on SS alone.

      People should get educated on SS and the other investment options out there. Explore the numbers, do some calculations, set financial goals and put mechanisms in place to reach those goals. If you need help, contact a financial advisor. I am one and and willing to volunteer my services. I want people to become better aware financially.

    • Milly
      February 23, 2012

      thanks for the good advice.

      • February 23, 2012

        thanks you are welcome… one of the best passive income one can go into is internet or affiliate marketing… there are many scammers out there… so for a start… you can check out todd dowell and sean donahoe… just google them up etc etc no need to go through all the scam artists… too heart breaking…

      • February 23, 2012

        as far as pennystock is concerned… xtremepicks.com gives good reviews on what is ‘hot’… to get into pennystock all you have to do is use google for eg “how to get into pennystocks” etc etc and use the information to get a start…

  34. biggz
    February 23, 2012

    well if dummy in d cans gonna agree to that..i must agree is reall obiahh working in this country…
    papamet.

  35. passingthru
    February 23, 2012

    I love Dominica but Dominica doesn’t love me.

    • Oh yeah?
      February 23, 2012

      no. you love your PM. Take what allu get.

  36. Miss G
    February 23, 2012

    All I want to do is cry for my money I have there since 1985. Social Security God Bless You. Your plans can never be in Heaven for sure

  37. Time To Run
    February 23, 2012

    I Cannot Live In This Country Anymore. I Love Dominica So Much. I Never Ever Thought I Would Want To Run Away; But With My Salary Staying The Same And Everything Going Up I Have To Run. Hard Work Does Not Pay Down Here Anymore.

    Is Anyone’s Salary Going Up?
    Do You Love Your Government?
    Did You Vote For Them?
    Well Thank You!

  38. charlo
    February 23, 2012

    This is utterly ridiculous. Retire at 65?

    • Sout Man
      February 23, 2012

      The full retirement age in the USA is 65 years if you were born before 1937 and it’s up to 67 years if you were born after 1937. You are able to retire at 62 years but you are likely to lose up to 30% of your benefits. The later you retire past 62 years, the more benefits you receive. At 67 you receive 100% of your benefits. (100% at 65 if you were born before 1937).Most people receive more than they contribute, anyway. We must guard against government raiding the fund and not replacing “borrowed” funds. We must hold governments, whether DLP, UWP or DFP, accountable for mismanagement of the fund. Their assets and pensions should be confiscated for misuse of the funds. It’s our money and we want it when due. It must not be used to enrich the fat cats or misused for politicians pet projects to buy votes.

  39. Cerberus
    February 23, 2012

    The fact is that our Social Security is underfunded with it’s biggest debtor being the Govt. of Dominica. At the end of the financial year 2010 we owed DSS over E.C.$.111 million in bonds and treasury bills alone! These securities are, in essence i.o.u’s.In Govt. bonds alone DSS held in excess of E.C.$.83 million and to ease their problems in paying for this debt the Govt. decided to reduce the interest on these bonds to 3./5% and and extend their tenure to 30 years! It is doubtful the Govt. will ever be able to repay this and in fact, they are only concerned with being able to fund the benefits that become payable in future. But even here we are struggling, as the proposed amendments to the pension scheme demonstrate. Nor are they able to borrow more money from DSS, by issuing more bonds, without endangering the scheme or their ability to service such debt.

  40. trixxi 101
    February 23, 2012

    this government is very wickid

    • Oh yeah?
      February 23, 2012

      So allu like it

      • Malatete
        February 23, 2012

        That’s what we voted for folks! The man wanted a mandate and we gave it to him. Social Security has been a cheap source of Govt. financing all along.

  41. Babyphat
    February 23, 2012

    Wicked! Wicked! Wicked! May God’s wrath befall Social Security and the people who approved this!
    My God, how do we expect someone to enjoy his/her retirement at 65 when the life expectancy in DA is 71??
    I’m sorry to say but I REFUSE to work for anyone after 55.. My golden days are for me to enjoy with my husband and family!

  42. Lawrence Ettienne
    February 23, 2012

    Have you guy educated the public sufficiently enough, before those decisions are taken?

    • Trouble Intended
      February 23, 2012

      Educate what public? You didn’t read the whole article? This has already been passed by Parliament…the person you voted for has already approved this for you…all you can do now is keep your mouth closed and keep working…When you get to 64, Parliament will give you the new retirement age of 70…got it?

      • Rastafari
        February 23, 2012

        :-D You sure made my day, thanks :lol: Dominicans don’t get it, they just can’t seem to get it!

    • Anonymous
      February 23, 2012

      where have u been nah! on mars!so long they talking about that. boy start buying your depends pampers to go to work tan! naff ta noon ton.

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