Road Town, Tortola - The British Virgin Islands Social Security Board (SSB) is celebrating 30 years of service to the Territory and has planned a month of activities, slated for July, to highlight this significant milestone.
The SSB, which continues to positively impact the social and economic development of the Territory, was established to provide pecuniary payments by way of sickness, maternity, employment injury, invalidity, age and survivor benefits and funeral grants.
Director of the SSB Ms. Antoinette Skelton, an employee for the past 28 years, says its success is a result of providing appropriate benefits to the right persons in the right amount and at the right time. “Social security has positively impacted the quality of life of all the people of these islands, whether directly through benefits or indirectly through its investment in socio-economic loans. However, we must keep abreast of the changing and growing needs of our public and respond accordingly”, the Director said.
The Premier also paid tribute to the late Honourable H. Lavity Stoutt, who piloted the Social Security Bill through the Legislative Council in 1979; the first chairman, the late Mr. Noel Barton and the first director, the late Mr. Joshua Smith who together laid the foundation for the social security scheme.
Since the inception of the scheme, the Board has paid over $80 million in benefits and as December 31, 2009 had an investment portfolio value at $325,400,553. It is anticipated that in 2010 some $14,024,273 will be paid in benefits.
The Social Security Scheme, which took effect in July 1980, is a compulsory insurance plan, for registered persons between 15 and 65 years to which employers, employees, self employed and voluntary contributors contribute.
For more information on the Social Security Board or the upcoming activities contact the Social Security Board at 494-3418 or visit their website at www.bvissb.vg.
British Virgin Islands News