Executive Director of the Dominica Social Security (DSS) Janice Jean-Jacques Thomas says the institution has not received the level of growths that it anticipated when it was initially formed.
As part of its anniversary celebrations the DSS has been on an education drive, and various radio programmes have been conducted in that regard.
While speaking on a radio programme, Thomas admitted that the DSS has also seen a decline in ratio, of the number of persons contributing verses the number qualifying for pension.
“We have an aging population and we have more persons being added to the pension roll, which is more than the number of persons who are actively contributing and that creates an imbalance,” she noted.
She said the lower growth in population and increase in aging population widens the financing gap.
“We have been advised to make changes in order to ensure that the fund remains sustainable. One recommendation is to increase contribution rate by 2%,” she added.
DNO CORRESPONDENT.
I agree with ‘Possiegirl’; she took the words right out of my mouth. I have asked about that as well and was given a similar answer!!!
Well the DSS can get plenty more monies in it purse if they would allow D/can like myself who is out of D/ca to make a Contribution to the DSS. i have inquire about that and they told me that i have to be inthe system etc, they are not serious with what they are doing, there is more d/can outside than inside and would love to make their contribution so when they retire and decided to move back home there would be something in there for them.. please review your policy and include d/can who really want to be part of that process, you guys would collect more monies and would not have to complain about any things, there are lot of young people out there working and that would encourage them to contribute. please consider and review the policy of the DSS.. Thanks you have a great day.
I LIVE ABROAD AND I WOULD LOVE TO CONTRIBUTE.
HOW DO YOU THINK AMERICA GOT SO RICH. EVERY AMERICAN HAS AN AMERICAN SOCIAL SECURITY CARD AND HAS TO CONTRIBUTE NO MATTER WHAT COUNTRY THEY LIVE IN. (IT’S COMPULSORY) IF THEY OWN A BUSINESS OUTSIDE OF THE USA THEY ARE TO PAY TAXES TO AMERICA. I KNOW OF A CERTAINTY OF DOMINICANS WHO ARE ABROAD DOING VERY WELL AND CAN AFFORD TO BE TAXED.
THE LEGISLATION CAN BE PASSED BUT THEY GOVERNMENT IS NOT THINKING. IF YOU WERE TO TAX THE CITIZENS IN THE DIASPORA WHO OWN BUSINESSES QUARTERLY OR ANNUALLY FOR EXAMPLE THAT WOULD BE A SURE WAY TO GET MONEY FOR COUNTRY BUILDING.
ONCE IT IS NOT TO EXORBITANT I AM SURE THAT MANY OF US WOULD BE WILLING TO CONTRIBUTE
Nigel, your thoughts make cents, but it ‘s missing some Dollars. When there is work , people pay tax
or should pay tax. A construction man takes 2 months before getting a job by the time he finishes,
he has to wait another 2- 3 months before getting something else.
The Govt. should level on those merchants, those are the ones that are owing millions of dollars in taxes and we the unemployed and poor malawee, they want us to pay for that.
Any govt. that do not have ideas , don’t go to represent people.
ALL OUR SKILLED PEOPLE ARE DISAPPEARING BECAUSE THE GOVERNMENTS, PAST, PRESENT CAUSING THEM TO GO.
Dss lady,
I think social security will have to review its strategies and operations. Look at how you all can automate and streamline DSS processes with a view to reducing costs and becoming more efficient over the long term. I know with the global financial crisis, investments are not so viable. But m’am please look at all your options because it is not too long ago you all increased fees. I just got a salary increase of 2%, so 2-2 leaves me with nothing!
zor toute FU…when my granny an dem was contributing to ss there were no old people on pension…wat de hell allu do with teh lady money ,, that ponzi scheme called social security needs to be shut down, if i saved the cash i paid ss in teh bank , by the time i am sick or ready to retire id be stinking rich……Wat happen to the ROI from marpin and Domlec….Doh raise our pressure PLEAE PLEASE PLEASE….GO AND LOOK FOR OUR MONEY,
salaray breakdown is already
18% income tax
4% social security
15% Vat
not to mention increase in food prices , oil and transportation…
i can go on and on and on but
If gov. authorize an additional 2% increase …RIOT
Create a Policy that Dominicans living overseas can contirbute to Social Security. I am sure if you dig further, you will find that most of the payments that are being done, goes to Pensioners who are living Overseas. They made their contributions and have moved overseas, and of course their payments rightfully continues, why not allow we the still able working ones who live overseas contribute, I have enquired about that several times and the only reason I am unable to contribute is ‘I should have continued my contribution at least one year up to leaving DA, Guess what I never knew that until I enquired. Educate people as well.
nigel i am very much in suport of your observation and it is something i have advocating i personaly know construction workers ,farmers fishermen who earn and pocket everything while not contributing to the state coffers these people pay no taxes then these people have the nerve to complain about the state of affairs in dominica every devolope counrty has an efficient taxation system
STRAIGHT UP EVERY COUNTRY NEED TAXES. I ALWAYS HEAR DOMINICANS COMPLAINING ABOUT PAYING TAXES THEN THEY TURN AROUND AND BLAME GOVERNMENT FOR NOT DOING ANYTHING.
BUT HOW CAN GOVERNMENT BE EFFECTIVE IF IT DOESN’T HAVE A PROPER, EFFICIENT TAX SYSTEM THAT DOES NOT CRIPPLE ONE SET AND SET ANOTHER SET FREE?
you guys are also forgetting that majority of Dominicans are self employed, so where do you put that on the unemployment rate. i am talking about the farmers, fishermen, construction workers, people who do arts and crafts or anyone who is not directly employed by a company or firm. these people dont pay any taxes but yet they benefit from everything that is done by the government to the people.
we need to understand that government makes money through taxation and without taxes the government is always going to be broke and we are forever going to borrow money from other countries and put the country deeper in debt.
i know majority of Dominicans have worked in other countries and they have no problems paying all the ridiculous taxes impose by that country. they suck it up and they pay it how is it that when it comes to your country everyone refuses to pay any form of taxation.
but like i always say education is key because alot of Dominicans are not educated as to how government operates. we are so use to hearing those familiar words, ” grants from china, loan from Europe, aid from Venezuela, and so or even the famous one the de money doh reach yet.” where is it coming from?????????
i TOTALLY AGREE WITH YOU NIGEL. DOMINICANS ARE WAY TOO DEPENDENT. IT’S TIME WE START DOING THINGS FOR OURSELVES. WE ALL SEE THE RESULT OF YEARS OF DEPENDENCY AND ALL WE GET IN THE END IS A BAD NAME, DEBT AND STAGNANCY.
I THINK WE ALL AGREE THAT IT IS TIME FOR DOMINICANS TO STAND UP AND DO SOMETHING FOR OURSELVES.
TOO MUCH FREENESS SPOILED PEOPLE NOW IF THEY HAVE TO PAY FOR SOMETHING THEY VEX.
increased employment is the answer,plus payment from people such as fishermen, vendors etc.
With such decrease in employment, if a 2% rise is asked for only the few employed workers and employers will feel the pinch.
Well said “Sout Man”. I would go further to say that not just job creation but an overall increase in the salaries on the Island for the middle class. With an increase in salary that would mean automatically the amount of contributions will increase.
Social security has shown that it is able to give loans to people, meaning that they are making money.
Nigel, are you suggesting that folks with no income should contribute? Dominica is reported to have an unemployment rate of over 20%. We need to create more full-time jobs that pay decent salaries to make social security sustainable. A move towards full employment is the key. How can we offer teachers 3% increase in salary and deduct an additional 2% for social security? The bureaucrats at the social security enjoy salaries far greater than our school principals, let alone our teachers and nurses.
how you expect people to willingly contribute to what amounts to nothing when they retire? Most people have MRAs and life insurance so ss is probably not relevant anymore. Look at increasing the pensions, or have some scheme where members can receive a better allotment upon retirement. otherwise crapaud smoke your pipe already.
When the population in Dominica is shrinked and the employment market is at its lowest,
DSS Equation to balance the problem with them,,the result will still come out negative.
..because -1 + -1 = -2
-2 + 2 = 0 !
i think everyone should be given a national id. something good not one of those cheap id’s and also include everyone should pay some payment to social security