{"id":5613,"date":"2010-03-06T16:15:27","date_gmt":"2010-03-06T22:15:27","guid":{"rendered":"http:\/\/dominicanewsonline.com\/?p=5613"},"modified":"2010-03-06T16:15:27","modified_gmt":"2010-03-06T22:15:27","slug":"increasing-pension-payments-contribute-to-decline-in-social-securitys-growth","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/increasing-pension-payments-contribute-to-decline-in-social-securitys-growth\/","title":{"rendered":"Increasing pension payments contribute to decline in Social Security’s growth"},"content":{"rendered":"
\"\"<\/a>
Janice Jean-Jacques Thomas. Photo credit: www.dss.dm<\/figcaption><\/figure>\n

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.<\/p>\n

As part of its anniversary celebrations the DSS has been on an education drive, and various radio programmes have been conducted in that regard.<\/p>\n

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.<\/p>\n

\u201cWe 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,\u201d she noted.<\/p>\n

She said the lower growth in population and increase in aging population widens the financing gap.<\/p>\n

\u201cWe have been advised to make changes in order to ensure that the fund remains sustainable. One recommendation is to increase contribution rate by 2%,\u201d she added.<\/p>\n

DNO CORRESPONDENT. <\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"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. 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