Effective January 1st, 2016, the pensionable age in Dominica has increased from 62 years to 62 years and six months, Deputy Director of the Dominica Social Security (DSS), Augustus Etienne has announced.
He made that announcement while speaking as a guest on ‘Talking Point’ aired on State-Owned DBS Radio earlier this week.
In explaining the changes, Etienne said different measures, which were discussed at length from 2006 began taking effect in 2012, and since then every year thereafter certain changes have been implemented, one being the increase in the pensionable age by six months every year.
“So as of January 2016 the pensionable age have increased from 62 years to 62 years and six months,” he said. “For a person to qualify for their full age benefit in 2016 the person needs to be 62 and a half years in 2016.”
Etienne continued, “We also have the gradual increase of a quarter percent in the contribution rate for all category of contributors and as of January 1st 2016 the employee contribution rate, that is the rate of contribution to be deducted from the emolument of employees, increase from 5 percent, which is was last year, to 5 and a quarter percent (5.2 percent) in 2016.”
Furthermore, he revealed that the employer’s contribution rate has not changed.
“It is still what it has been for the last several years,” he stated.
Meantime, he said, the rate for self-employed contribution and voluntary contribution has changed.
“The self-employed contribution rate is now 11.25 percent, moving from 11 percent, which it was last year, and the rate for voluntary contributors, those are persons who are neither employees or self-employed persons…their rate has moved from 9.65 percent, which was applicable in 2015, to 9.9 percent of their declared earnings in 2016,” he explained.
Etienne added, “Employers need to note that with effect from 1st January wages and salaries of employees, they have to deduct 5.25 percent from the wages of their employees and to match it with whatever rate they have been paying for their employees.”
According to him, the DSS hopes that all employers will be so guided when making their first payment for 2016 and they deduct the correct rate.
“And if they have not, we will remind them again to ensure that they do what they have to do,” Etienne said.
By the time I get to pensionable age, the way things are looking I will never see my social security contributions. How is Social Security Investing our money? Why is it public statements are not given as to the amount of contributions received for the year, how much was paid out to pensioners and how much was invested?
And over the past four years deductions were increased from 4% by .25% anually until it was supposed to be 5% in 2015. But DSS is once again announcing an increase in deductions by .25%. So should we be expecting increases every year for the next ten years? Why don’t you guys campaign for employers to give their employees SALARY increases? Then your deductions would be sure to increase without having to wring every available drop of blood from Dominicans.
Just my 2 cents.
Old people wouldnt retire relax and enjoy there benefits then they will occupy jobs pass 60+ years which will causes high unemployment rate among young people.
all i’m saying the day i retire if i live to see alyou high retirement age, the day i retire i want ALL of my money. i dont want no monthly payment.i want a lump sum of all the moneys that social security owes me.ALL of it.
greedy!greedy!institution. people are dying at younger ages these days and they want to raise the age of pension?they also raise the percentage of employees due?wicked!wicked!institution.
Oh boy, is there ever a happy day for Dominicans? Eventually the retirement age will increase from 62 ½ to LIFETIME and social security will become obsolete. As hard working citizens, we should put our faith in no man. Instead of trusting in these failed methods of the higher-ups, we should invest in some serious savings accounts instead of having these uncaring people determine when and if we should retire. For all they care, we could work till the day we die and after that reincarnate and work in the afterlife. They really don’t care about us. Remember Pharaoh never cared about the slaves that wallowed and perished in the mud pits. All that mattered to him is that his city was being built. This increase in retirement age serves as evidence that our supreme leader has not created any jobs. Now with the children not having any jobs to take care of their seniors, the seniors have to keep on working to take care of themselves. This is so sad. Dominique fini
yah and then two years later they’ll come back and say it increasing by 6 months to 63 years!
Take a stand, doe give them an inch cause they’ll take a mile!
You are right, it will be it has to go up by six months every year until it gets to 65. It has already been changed by law.
Educate yourself, this gradual age increased was discussed at length before implementation. The qualifying age was sixty and while you were sleeping it was moved to 60 and a half, this incremental increase will continue until the threshold of 65 years is reached in 2021. That is the law and it is not something that is now been introduced.
People need to be an agewhere they can enjoy the fruits if their labour. Stop putting up the age. When you retire at 60. You have to wait two more years and plus six months to eat a bread from social security,
agreed by he will not inform the public that there is an option for reduced pension one can receive immediately, I think it is just less than they would have received it they wait.
Persons are dying younger but pension age going up , it makes no sense!
It makes perfect sense if you understand the objective. The younger you die (which they are counting on) the less you get. So the objective is to raise the age and hopefully you will either die before you are eligible or die shortly thereafter saving them a lot of money. This is the same SS game plan worldwide. People now are dying younger. Also, SS doesn’t have the money to support the number of people long term that have paid into it at the rate that they are expecting to get upon retirement.
We are paying for the sins of orhers
Bullcrap. Seems like the retirement age is running away from people.
These days everything is increasing except income. Canada recently eliminated the mandatory retirement age. Most people do not mind.
Some people do so voluntarily to make extra dollars.
Canadians could retire at age 60, 65 or later. Those who feel they are able to work, are healthy enough, could continue working. They could receive retirement pension and still work. If they are working they could also defer their pension.
I have concluded the government wants to keep Canadians working.(to pay taxes) for as long as they are able.
People have different lifestyles. Some may not be financially ready for retirement. The result could be boredom, idleness and illness. You know the rest.
Tonight, I went to the grocery store. I spoke to a sales clerk about the increased cost of produce. He said he is 51 years. I told him he looks much younger. I thought, there is a man, if he lives long and is healthy could work until age 75. No joking!
For someone like you that always seem to be in support of all the foolishness that’s happening in Dominica, why aren’t you against this one? This is the first time you ever made a sensible comment. Were you tired of shitting through your head and thinking with your backside? Are you throwing in the towel by admitting that under this government everything is going up except people’s salaries? Face these facts – Welcome to Dominica’s reality. Soon disabled people will be required to sill work. Sad but true. Broke country!!!! This nonsense will only lead to an aging work force while the youth of the nation continues to be deprived of a proper 9 to 5.
@Facts, I appreciate your point although it’s seen from the Canadian point of view only. Do you know why many first world countries encourage immigrants to come over? It is because the economy is booming, jobs are available but the population can’t keep up in growth..so for Canada it is acceptable for people to work past the retirement age if they can, but that scenario doesn’t fit in a tight small economy like Dominica’s..that’s why each country must adopt policies to suit their own situation..
Every Year the confidence in Social security dwindles..the Actuaries always tell the Gov’t increase the age and increase contributions, reason being the population isn’t growing at a sustainable rate..but who incentivizes the population Growth.? There is no support for young families in DA..not even income tax exemption for dependents..but they give for Mortgage..what’s the Focus.!!
So eventually we’ll have an aged population needing more social security pay outs than the young ones can put in..More young people migrating to seek a little survival cause jobs scarce and taxes in DA taking half their salary..I don’t want to make this political at all but I honestly wish we’d have better policy planners in DA . So many Phd.s and MSc.s..Unless our gov’t ease up the stress on the population things will continue to head downhill..
I share your sentiments. No concern or focus on population dynamics and effective policy to combat the effects of population distribution. To many PhDs and MSc that a just good in theoretical knowledge but no application of that knowledge. Totally useless.
good job
Poor me. I guess, by the time I get social security retirement benefits,the age requirement will be 75 years. I might not be there too enjoy all my monies i have contributed all those years. I work hard you know.
Live well, keep well, stay healthy. Pray to God for a long, healthy life. However, know that He is expecting godly works. That is our cheerful, generous pay-back while on earth.
Al kind of tactics to kill the old people for all you to hold their money to leave all you lavish lifestyle. Jah
What happened to the 4% payment increase every 3 years? The last one was 6 years ago in 2010. See DNO article 4 March 2010:
“The Dominica Social Security adjusts pension payments every three years, and is adhering to this policy as it observes its 34th anniversary this year.”
“In March of 2007 after we had gone about talking about the various reform measures that had to be implemented, one of the recommendations was rather than allow for the pensions to increase on an adhoc basis, to make a provision for it to be increased every three years, [so] that people know that every three years they can realize an increase in their pension,” said DSS Deputy Director Augustus Etienne.
“We looked at inflation of 2006, 2007, 2008 and applied that average increase to the pensions that were in payment at December 2008,” Etienne stated. (4 March 2010)
It will soon be 100 years. I am just hoping that when my time comes around I get my money with no problem because I paying my contribution with no problem.
Papa just now it will be 99years and six months. I wish that thing was optional. All you want people to die before all up give them their money. F….k
Look a set of stupid ppl in that country…..they say yes to every damn thing. I cannot understand why on earth to you would agree to allow every year an increase of deductions and it takes 3-4 years to get 1..@$#& beeping % increase in salaries, and they would still come at you with a 0% for one of the years.
lets just say your salary is $500….u go home with $473.75 at the end of January….Tell me what the hell you gonna do with THAT!!!!?????
all you want people to die before they are entitled to their monies,
Garcon instead you all try to recover the money wrongly invested in all kinds of schemes you trying to delay peoples pension.
Help me understand why the employer’s contribution did not increase when employees are already underpaid?.
Ca mwen te ke di zor eh. Alle sousay sel. These people have no shame with this ponzi scheme.
SS was always a ponzi scheme. They were hedging their bets against the longevity of the population and then making it like they were doing you a favor. Then again, most people would never have saved and satisfactorily invested what they needed to in order to retire at a certain age. The other problem is that many countries have added other recipients into the SS pool which has upset the whole program. When you have people or children receiving benefits from SS that haven’t paid into it, you can’t have sufficient funds to pay those that did pay into it when they retire.
Put it to 100 years, we Dominicans a nice loving people and we will not complain. Thank you
Is there a target age that they will arrive at? like 65 or 70? and if not when will they stop increasing by 6 months? On the flip side, is there a commensurate increase in payments to retirees?
kindly inquire – thanks
SOCIAL SECURITY B.O.D “heres hoping they dont make it to 62 and if they do lets give em 6 more months were sure a few of em wont make it
So I hope we see increased benefits too. If I pay more for a longer period I expect more benefits.
good God…. just forget about the pensionable age.. keep all
DSS is keeping individuals in the work force longer while reducing their income. If you just turned 62 you will never catch up? What are the reasons for these changes?
To please which political stooge that receiving big salary?
Thank you mr. Etienne. I can understand that and it makes sense, However it makes no difference if you don’t have a job or your employer deducts social security paymnents but does not pass them on to you.
alas pure madness social security don’t want to give people their money so the keep increasing the age so they will not pay.