Changes to Benefit and Contribution Provisions
Members of the public are hereby reminded that, in keeping with the provisions of Social Security Amendment Act 2 of 2012 and Social Security (Amendment) Regulations—S.R.O.’s 4, 7 and 8 of 2012—the following changes are to take effect as of 1st January 2021:
Increase in the Pensionable Age:
The Pensionable Age—i.e. the age at which an insured person who has satisfied the prescribed contributions conditions is entitled to receive age benefit—shall increase from 64 ½ years (i.e. 64 years and 6 months) to 65 years.
Notwithstanding the above-stated increase, an insured person who has satisfied the necessary contribution requirements for receipt of an age benefit may, at any time after attaining the age of sixty (60) years, opt to claim for the payment of a reduced age benefit.
Increase in the Contribution Rate:
The contribution rate in respect of Employees, Self-employed persons and Voluntary Contributors shall increase by ¼ % (0.25%) vis:
|Category of Contributor||Old Rate (Applicable during 2020)||New Rate (Applicable during 2021)|
Further clarification on these changes can be obtained from the office of the Dominica Social Security or on the DSS Website: www.dss.dm.
By Order of Management!