The St. Christopher and Nevis Social Security Board observed its 42nd Anniversary on Saturday February 1st, 2020. This significant milestone ushered in renewed focus on the eminent need for the Reform Agenda, a comprehensive overview of the present model with the appropriate legal framework that will support the sustainability of the fund for the next 30 years.
The month was officially launched with the Minister Broadcast by Minister with responsibility for Social Security, the Hon Vance Amory. In his broadcast, the Minister highlighted the importance of Social Security as well as announced the recent pension increase to Age, Invalidity and Survivors Pensioners, an increase of 1% to 5% in some cases. (more details in the video attached).
The St Christopher and Nevis Social Security Board was started on the 1st February 1978 with the aim to provide pecuniary payments to all eligible working persons for both short and long term benefits when probabilities occur and to ensure a dignified future for workers upon reaching pensionable age. Since inception the Fund has grown to reserves totalling over 1.5 billion dollars while meeting its obligations to the insured populace and by extension to the people of St Kitts and Nevis through capital investment, education, housing, healthcare and national security amongst others.
The fund continues to serve the beneficiaries of over 20, 000 registrants, the Self Employed and every resident, citizen and national either directly or indirectly. The Board is cognizant of the importance of a formidable fund to the economy and to the people and will incorporate all strategies to improve compliance, make prudent investment, manage the resources of the Fund efficiently and to exercise greater transparency and accountability for the good of the people.
The Board also acknowledges the contributions of all stakeholders Government, Employers, Employees and the Self Employed, past and present Ministers, Chairpersons, the Directorate, Management and Staff for without their work the mission to provide benefits to eligible persons would not be possible.