Cabinet has approved recommendations to increase the retirement age in Dominica.
An increase in the contribution rate is also among changes to the social security scheme due to come into effect in 2012.
Deputy Director of the Dominica Social Security (DSS) Augustus Ettiene said the changes are will see a gradual increase in the retirement age from 60-65 in increments of six months for every year. “It will go from 60 to 60 years and a half, until it gets to 65 in ten years,” he said.
He said the DSS will increase the contribution rate by one quarter percent every year over the next 20 years to achieve a five percent increase over that 20-year period.
The organization will also adjust the maximum earnings on which people pay contributions annually and increase the age of survival benefits from 18-21 as long as the children are at school and unmarried.
He said the decision is geared at ensuring that the viability and sustainability of the system.
YOU MEAN THEY INCREASED THE RETIREMENT AGE TO 35?
BECAUSE I KNOW MOST PEOPLE IN DOMINICA STOP WORKING AT 30
Unemplopyment on the rise. Jobs for the Chinese Construction Co. and Chinese workers on State Palace and State college. Dominicans have to pay back the loan from the Chinese, but do not get the opportunity to do the work. How is the DSS going to retrieve the millions that it has invested in the Foreign Insurance Cos.? So is we, poor Dominicans who have to pay for that? People’s retirement plans are being disarranged. Who cares?
But strange!!!! Why did the DLP Govt. and Cabinet not approve or respond to the request of the “Independent Electoral Commission’ for funds to provide VOTER ID CARDS and to CLEAN UP the unclean Voters’ List, so that our elections could be FREE and FAIR? No Electoral Reform? So everything is OK with our election process? No changes are necessary? Or changes to our election process will negatively affect some politicians chances of winning elections? Think of it. But Govt. quickly approves DSS’s recommendations to increase retirement age to 65. Sounds funny?
According to Wikileaks, didn’t an Insurance Co.’s CEO
provide funds for a certain political party’s campaign in Dominica? Is it the RULING DLP Govt. which receioved that money? Which Insurance Co. was that? Did DSS invest in that Insurance co. as well as another well-know one? Aren’t there problems with DSS, individuals and other institutions regarding the retrieval of its investment and dividends? Have any of those Insurance execs. taken to task or investigated? But is we poor ordinary people who have to pay the price for others’ mismanagement of DSS.
I only hope this year there is no CHRISTMAS PARTY and expensive jewelry from Fort Young for DSS staff at the expense of SS contributors
Well …does Cabinet have the power to increase the age; or should it be an amendment to the law?
I sorry for all those young people that have their eyes on my post …looks like I will be around much longer
Dominica has an aging population. This is a quick and lazy fix. At least something was done o buy us sometime.
But the only answer is to increase our force, thus increasing SS contributions.
The private sector is not large enough and until we expand and population grows it will only get worst.
A lot of nonsense went on with SS money however, and the poor Citizens pay the price.
But realistically 65 yrs is the ideal retirement age Globally.
But please dont rely on SS when you retire. YOU must have alternatives my people.
The World is changing, we take too many things for granted.
65 years is ideal retirement – what NONSENSE – for you not for everyone – A CHOICE people – what’s wrong with having an OPTION
That wooden cabinet box there must rotten one day.
Viability and sustainabilty renewable system.
Skerit is increasing the retirement age by 10 years at a time that the life expectancy in Dominica is dropping. They are hoping that most Dominicans die before they are able to benefit from Social security, so that they can continue to plunder the resources of the country.
that’s a harsh thing to say. And where is the evidence that life expectancy is declining in DA?
I don’t think that Charles Savarin heard about the new retirement age, because he is 68 and still insists on working.
Dear Fellowmen & Women,
I have read some of these comments and I am just shaking my head, because here in the United Kingdom we now have to work until we 68years old because the goverment is stating that we are living longer.
I am in my early 50s and was looking forward to retirement at 60 which was part and package of the deal. However, how things are going on we will have to work till we are dead.
I am afraid that is reality and like i or not we have to accept.
The majority of Dominicans habe no POWER to say NO, or even to question Cabinet’s decision. Did cabinet consult with the people, who are contributing to Social Security month after month, for years upon years? On whose behalf did the DLP Cabinet take that decision for DSS to increase the retirement age, if they were not consulted for their inputs on that serious issue which wopuld affect their lives? But really, how comes the ordinary poor workers have to pay for the losses re. DSS investments in Insurance cos.? Remember the true story of an Insurance Co. and its secret dealings of its CEO with authorities? Worse yet, those who have caused our DSS investments to be so insecure, almost lost, are not even investigated and put under manners for messing with thye people’s money. Unfortunately, we are paying all now for the msmanagement of DSS. Many people are complaining that their retirement plans have been dealt a sever blow. Again, the people have NO POWER to EVEN INPUT into the changes regarding their own retirement. What a BIG SHAME !!!!!! Too often major decisions are taken without any consideration for the concerns of the people that decion would affect. After all, we are human beings and should have a say in those major decisions where our financial contributions are concerned.
Are you living in this country? In the course of the past few months leading to November, the DSS went throughout the country to consult with the people on the proposed reform measures at the request of the Cabinet of the Government of Dominica.
the cop happy now…he can stay till 65 years to protect the pm and his followers
That means that the burden on Social Security is decreased, and our burden is increased…. becasue fewer persons will reach the age of sixty five and the retiriement time to death is shorter. How many Dominicans live to 7o or 75 these days?.
For those who have contributed to Social Secuirty from the time they started woring at 18-20 you wuuld have contributed to social Secuirty for forty five years of your life, but will only benefit for maybe ten years if you live that long or if your children is still under 21, which is unlikely.
This picture raises so many questions!!!
i have to pay social security three times a month and the people still increasing rates.Domlec, marpin and s.s contributions all going in one hole magwa sa papa we have to struggle in that country.
This is absurd. Young people are seriously going to have to consider self employment.
the youth is held responsible for all the bills of our parents… they want us to be the working class yet they don’t want us to ‘work’… so how do we pay those bills… the youth is held responsible for all there irresponsible debt yet they look down on us at every single opportunity… yes we will pay there social security like it or not… but who will pay ours…??? get wise youths… no one’s going to pay ours… our generation have to work till we hit the grave… it has already begun…. many americans hoping to retire and live off the 4O1 K can’t… they have to hit the job market… and work an extra 10 – 15 years…. what a shame… i ask my fellow youths to get into business… social media marketing is the hot spot… you can check out http://www.letsgetsocial.com … let’s be independent rather than ‘slaves’ that our parents and those b4 were ‘innocently’ coerced into… no longer should u work till u die… no par lah… let’s change that… we aint gonna work till death but live a happy life till death…
I CANNOT BELIEVE THAT CABINET AGREED TO INCREASE RETIREMENT AGE.ISN’T THE SAME CABINET INCLUDING SKERRIT AND PATTER ST.JEAN, THE TWO ILLEGAL PARLIAMENTARIANS WHO WERE SAYING THAT MR. EDISON JAMES AND MR. RON GREEN ARE TO OLD TO BE IN POLITICS.NOW THEY WANT PEOPLE TO RETIRE AT SIXTY FIVE. THE WAY THEM FELLARS WERE TALKING , I THOUGHT THE RETIREMENT AGE WOULD BE FIFTY FIVE. THE SOCIAL SECURITY PROGRAMME IS GETTING BROKE,YOU GET MY DRIFT.
well he retirement age is 60 so people have to wait 5 years for social security
People at 60 do not have to wait five years to get their old age pension. The retirement age will gradually increase over a period of ten years until it reaches 65.
WOW so what abt the young ppl leaving school? Don’t they want jobs too??
Is government gonna mk new jobs available for the hundreds who graduate yearly??
Social unrest amongst the youths is inevitable!!
YOUR WORSE MISTAKE DLP!
This is so disappointing…for the youth… Only means higher positions will not be Available for the next five years..In an already Stagnant economy… please tell me how are we creating Jobs for the Youth..UWP is so ignorant they are staying out of parliament… who are we to turn too..to voice our concerns… Thats the worst decision ever made..
The Dominica Labour Party Cabinet? HUH?
Was wondering the same but they remove it it seems. belle baguye