Major shift coming for Social Security Act
The government has announced that there will be changes in the law that governs the Social Security Board (SSB) and said these changes are aimed at helping to improve the management of its finances.
In the Speech from the Throne delivered by Governor John Rankin in the House of Assembly (HOA) recently, the government said it will seek to amend the Social Security Act to improve the general governance and administration of the Social Security Fund and the National Health Insurance Fund.
Management of the Social Security Fund was brought under the microscope during the Commission of Inquiry (COI) where it was noted that a $40 million grant was requested in 2020 by former Financial Secretary Glenroy Forbes and approved for specific elements of support during the pandemic.
In the meantime, the government also revealed that various other amendments are expected to be made to the principal Act to increase the current four-member Social Security Fund Investment Committee.
The government’s recommendations are then expected to be referred to the Board for ratification.
According to the government, the proposed changes in the legislation would provide for the Board to pay legal costs only in cases where rulings from the courts are not in favour of the Board.
Changes in the Act are also expected to provide for how reimbursements will be handled where the beneficiary has another private health insurance plan.
Bring back the certificates
Meanwhile, the government said it also intends to make amendments to the Social Security (Contributions) Regulations, the Social Security (Benefits) Regulations, and the Social Security (National Health Insurance) Regulations to improve the effectiveness and sustainability of the social insurance system.
Director of the Social Security Board, Jeanette Scatliffe-Boynes, told the Standing Finance Committee (SFC) last December that the SSB continues to grapple with the issue of defaulters. She noted at the time, however, that the Department has been able to collect from quite a few of their defaulters.
According to Scatliffe-Boynes, the SSB continues to lobby the government for the return of the certificates of earnings and certificates of good standings which she described as a great help to the Department in collecting from their defaulters.
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AFTER YOU AND SAINT ANDREW DONE MANIPULATE THE PEOPLE’S MONEY IN SOCIAL SECURITY ,WHICH ALL YOU PUPPETS AGREED TO YOU PLAYING HOLY NOW , ITS SHAMEFUL , BUT YOU ALL WON’T KNOW THAT ,BECAUSE YOUR HEADS ARE IN THE CLOUDS
I mean really we just came from covid lockdown one of the most difficult times in world economic history after suffering from two major hurricanes back to back.
And the businesses are suffering and she talking like the defaulters have a load of money. But they cover up for who dem want.
They abused the system with the Government and the business people have to suffer. Just like the hurricane with the looting with an inactive police force and government.
This needed a commission of inquiry into what happened and was allowed to happen to the business community. But the BVI Hotel and Commerce Association is weak and has no idea where they are going.
The Governor’s office needs to tell the people why they allowed Fahie to do the nonsense he did when they could have stopped him. From appointing Bevis to the airport board to dipping in social security. The people of this country see the games playing on both sides.
Everybody wants to come now and put pressure on the people, especially the local business community but we need answers too.
Can we make it so that our government cant just raid social security when they want money to throw away?
why didn’t they investigate who get those grants, my husband and I with 2 kids didn’t get any we were afraid to apply because of being feared of being victimized of being an expat and laid off during covid
Scato begging for government to bring back the certificates of good standing for every single work permit renewal!! Why??? Are we not hurting enough already without you adding unnecessary fees. Find another way to collect from defaulters without the whole country having to suffer for those who do not pay!
All those small business will soon have to close their doors……
Hope the amt of yrs one contributed is a serious consideration for their retirement check than the last 3-5 yrs. As it is now when a person have made contribution for 40 yrs, the at age 62 to 65, they not able to work or own very little they get peanuts for their security..
Lord’O people please! Stop crying victim and use your brain. It will not be just for work permits but for a lot of things where you are required to prove to government that you are compliant and paying due diligence. You will have to produce one to get a liquor license, a trade license, to sell property and the list goes on. Why? because it is the LAW.
So your worries should not be your work permit but rather if you will have a place to work. This is called enforcement. SADDLE UP!
@Pleae
So what happened before those disasters?
They need to go after the business that deduct the employees contribution and not paying it in. They know who these people are but because its their family, friend and/or supporter they afraid to go after them. This has been going on for years. Even is they put the certificate in place some people still getting Government contracts and their contributions are not up to date. Never End. Move on. Next.