Sapphire anniversary celebrations for Basseterre Social Security
ST KITTS AND NEVIS SOCIAL SECURITY IS CELEBRATING ITS 45TH ANNIVERSARY, and Prime Minister and Minister of Social Security, Dr Terrance Drew, congratulates citizens, nationals, residents, and contributors to the fund for their perennial faith throughout four and a half decades.
The sapphire anniversary is observed under the theme, ‘Transform, Reform, Thrive; Social Security 45’.
In his address to the nation, PM Dr Drew said as a responsible organisation, Social Security has demonstrated its commitment to nation-building through its various programmes, disclosing that annual donations to health and national security, education, capital investment in local development projects, and support to youth programs and NGO’s, all add value to its function.
“We are grateful to the founding fathers, Sir Robert Llewellyn Bradshaw after whom the Headquarters is named, and E. St John Payne, whose visionary work pioneered an organisation founded on international principles of equity, solidarity, and universality. With foresight, significant decisions made back in 1978 have propelled the fund into financial prowess and security, 45 years later,” Drew emphasised.
Basseterre, Drew said, is indebted to all the former administrators, management, and staff whose contribution cannot be measured or minimised.
“We are grateful for your stewardship and thank you for your commitment and dedication to the Board’s mission to provide the best possible benefits to all insured,” Drew said.
He continued, “Today Social Security, provides 26 benefits, each with its qualifying conditions and rates of payments. Social Security continues to position itself as the premiere pillar of our society, providing payments to the insured in situations such as sickness, maternity, employment injury, disability and in old age, amongst others. I can recall a point in our history when our people had no social income protection after retirement or when life circumstances came upon them”
Drew assured that all insured persons can rely, with confidence, on the ability of the Social Security Fund to pay benefits on the most vulnerable occasions.
He said as the Federation observes its maturing fund which stands with reserves of over EC$1.7B, it acknowledges also its equally important and critical role to bolster and reinforce the current structure to advance transformational reform.
“This resolute act will assure the vitality and assurance of the social security fund for another 45 years or more”.
“This lifeline institution currently serving nearly 7,000 old-age pensioners, and all the contributors to Social Security, demands that due care and diligence are given to its continued sustainability. Without adjustments, to the current structure, our robust fund can be depleted by 2040 or thereabout,” Dr Drew counselled.
He explained that the St. Kitts-Nevis Labour Party (SKNLP) administration is committed to ensuring that the Reform Agenda is carried out, and the best possible solutions are implemented over time to thrust Social Security into another 45 years of service to our people.
Despite the growing challenges and the intricacies of changing demographics, Social Security remains a strong and resilient safety net for all contributors, the PM emphasised.
“As Minister with responsibility for Social Security matters, I make an earnest plea to employers and the self-employed, to remain compliant and make the required monthly, regular remittances to Social Security to meet the future needs of your staff who trust you to do the right thing on their behalf and to secure future benefits for yourself in retirement. I encourage all stakeholders to pay keen attention to social security matters and to ascribe to your rights and obligations as insured persons,” PM Drew said in his national address.
Throughout the anniversary celebrations, the Board, Management, and staff will worship together at Zion Moravian Church, on Sunday, February 5th, 2023. He disclosed that an Awards Gala, Virtual Panel Discussion, Scholarship Induction Ceremony, and Stakeholders Meetings will be held to promote the mission of social security and the reform agenda.
“I pray God’s continued blessings on the fund, the administrators, and the people of the Federation of St Kitts and Nevis,” PM Drew said.
