St. John’s Antigua- The 39-year-old Antigua & Barbuda Social Security (ABSSB) has told contributors to expect changes to ensure the viability of the institution.
ABSSB Director David Matthias did not indicate the exact nature of the changes, even when pressed by OBSERVER Media, but he said they would be “structural, as well as much needed changes.”
Matthias said the last four decades had been “challenging” for the institution, adding that as the economy transitions into growth “so will the social security continue to grow.”
He said the organisation was sustainable “but that endurance is very much dependent on its ability to transition.”
According to Matthias the support of the public is “critical” if the future of the ABSSB is to be assured.
“We are unable to really do what needs to be done in the absence of that kind of support which is needed from members of the public,” he said.
With the collapse of the world economy, regional social securities have come under the microscope and have had to implement measures to ensure continuity.
Recently in Dominica, Parliament approved legislation providing for a gradual increase in the retirement age from 60-65 and an increase in social security contributions by one per cent.