Call for independent pension fund

A legal professional here is calling for the implementation of an independent pension fund for Dominica.

Attorney at law Elude Charles says there is great need for social provisioning in the country.

He has called on the Dominica Public Service Union (DPSU) to push for a national health insurance fund for employees.

Charles was the featured speaker at the sixth Biennial conference of the union on Wednesday night.

“The question of Health fund, fund for people who are sick I think the union can play a significant part in trying to push the idea for a national health insurance fund for workers”, Charles suggested.

The local Attorney also stated that in terms of dealing with poverty he is concerned about that aspect of social security.

Referring specifically to the existing Dominica Social Security Scheme, he said “it is not so much a pension fund per se”.

“It’s a means of social provisioning but you still need an independent pension fund for workers whether in the private sector or the public sector, my recommendation is a contributory pension fund where workers contribute independently”, Charles said.

He argues that such a fund is necessary because the benefits given to workers by Social Security after they reach retirement age are not adequate to meet their needs.

Disclaimer: The comments on this page do not necessarily reflect the views of DominicaNewsOnline.com/Duravision Inc. All comments are approved by DominicaNewsOnline.com before they are posted. We never censor based on political or ideological points of view, but we do try to maintain a sensible balance between free speech and responsible moderating.

We will delete comments that:

  • violate or infringe the rights of any person, are defamatory or harassing or include personal attacks
  • are abusive, profane or offensive
  • contain material which violates or encourages others to violate any applicable law
  • promote hatred of any kind
  • refer to people arrested or charged with a crime as though they had been found guilty
  • contain links to "chain letters", pornographic or obscene movies or graphic images
  • are excessively long and off-message

See our full comment/user policy/agreement.

3 Comments

  1. Ya ok
    May 3, 2012

    That’s a good ideas providing that a viable fund manager can manage that fund….if not managed well it could be a nightmare

  2. Gee
    May 3, 2012

    ****PLEASE NO MORE FUND THIS AND FUND THAT***

    we must save more!!!
    more fund>>>>more corruption!!!! otherwise WE WILL JUST HAVE TO increase SOCIAL SECURITY DEDUCTION ON OUR SALARY!!

  3. A concern citizen
    May 3, 2012

    Great Suggestion. This fund at the age of retirement can add to the net income one receive from social security and other income such as interest on savings and investments. Then the retired can live an affordable and balance lifestyle.

Post a Comment

Your email address will not be published. Required fields are marked *

:) :-D :wink: :( 8-O :lol: :-| :cry: 8) :-? :-P :-x :?: :oops: :twisted: :mrgreen: more »

 characters available