1. What is the purpose of Social
Security?
Social Security is a
safety net for the insured worker. In many ways,
Social Security is like private insurance. Just
as a private insurance. Company collects
premiums, Social Security collects
contributions. And where there is need and the
requirements are met, Social Security pays
benefits. The big difference is that while a
private insurance company can pick and choose
the people it will insure Social Security
insures every legally employed person in the
country. As long as the legal requirements are
met, Social Security cannot refuse to include
anybody in the program.
2. How is Social Security governed?
The Minister of
Finance is responsible for Social Security. A
Board of Directors is responsible for general
supervision of the system and it is administered
by a Chief Administrative Officer (called the
Director) and staff at the Social Security
Office.
3. What is insurable employment?
♦ It is any
trade, business or professional of a person
between 16 and under 65 years.
4. Why should I join?
♦ For economic
security in time of need.
♦ You get a generous
benefit
package, through this low cost social insurance.
♦ Your contributions entitle you to cash
benefits,
maternity, invalidity, funeral,
survivorship and retirement.
♦ Your dependent
survivors are entitled to
benefit
when you pass away.
♦ Any contributions you made as an employee
or voluntary contributor is added to
your contributions AND when calculating
your benefits as a self-employed.
5. When Should I Join?
♦ The sooner you
start to contribute, the sooner you will be able
to claim benefits,
because you need a certain amount of paid
contributions in order qualify for a benefit.
♦ The more contributions you make, the
higher your retirement
benefit
will be.
6. At what age can I register?
♦ Self-employed
persons 16 years and over and under 65 years if
age can register NOW.
7. Why is it necessary for people to
register with Social Security?
♦ Social
Security is a mandatory national insurance
system that affects, in one way or
another, nearly every person in the
country. Such a system can work most
effectively when everyone is registered,
is paying complete database assembled.
8. When can I receive a benefit?
♦ For the self
employed person to qualify for any
benefit,
no less than 26 contributions
should be paid as a self employed.
♦ Like insured
employees the self-employed need to meet all the
qualifying conditions
of benefit being claimed for.
9. How do I
claim a benefit?
♦ Claim within
the required time.
♦ Pick up a
claim form at our office, even during lunchtime.
♦ Fill out the
form.
♦ Provide all
the required information and documents
♦ Return the
claim to the office.
♦ Return to
office on date given to you to pick up your
benefit.
If no date is given you
will be contacted when your
benefit
is ready.
10. How do my Children/Spouse Benefit?
♦ Your children
and spouse and even dependent parents could
benefit
when you pass
away, though Survivors’
benefit.
♦ A Funeral
Grant is paid to the person who undertakes the
insured person’s funeral
expenses.
♦ A funeral
Grant can also be claimed by an insured person
upon the death of spouse
or child.
11. What happens if I stop contributing or
do not contribute?
♦ You will owe
Social security arrears if you do not fill in a
notification of termination
when you stop your declared business,
trade or profession.
♦ If you stop
making contribution payments, whether you’re
employed or not your
account will be frozen. Your account is
re-activated when you returned when you
return working as a self employed and
paying contributions.
♦ Whether
working or not you may keep your account active
by maintaining your
contributions, thereby building up your
retirement fund and increasing benefits to
your survivors.
♦ If you do not
contribute, you are not entitled to certain
benefit; however your
contributions stay in the fund and are
counted for you retirement and survivors
benefits.
12. How do I know how many contributions I
have?
♦ Visit the
Social Security Office; the customer service
staff there can inform you what
contributions remained in your record.
13. What happens if I become employee again?
♦ If you decide
to become an employee , your contributions
remain in your account
♦ Contributions
paid on your behalf by your employer will be
credited to your account.
14. How much do I pay?
♦ How much you
pay as a contributions depends on the amount of
income that you
declare.
♦ Social
Security insures weekly incomes from $200 up to
$1250.
♦ You pay 8% of
the weekly declared income by the 14th
day of every month.
15. What are my benefits?
♦ All the
benefits offered by Social Security….
♦ Sickness
benefit
♦ Funeral Grant
♦ Maternity
Grant
♦ Maternity
Allowance
♦ Survivors’
Pension or Grant
♦ Retirement
pension or Grant.
