SSB needs to step up in this crisis, says Dr Heskith A. Vanterpool
'The question is, how do they get paid and I understand in a previous statement, the Minister of Labour [Hon Vincent O. Wheatley (R9)] suggesting that we should pay the staff causing them to stay home, but that is a very great burden on businesses," Dr Vanterpool said on the Wednesday, April 1, 2020 special edition of "Honestly Speaking' on ZBVI 780 AM.
Cushioning the effects of COVID-19
According to the doctor, Social Security should now step in to cushion the effects on not just businesses but for employees who would not be working for about three weeks by the time the curfew is finished.
"For the last many years we have been paying as employees and employers, 4 percent of the employee's salary to Social Security for sickness benefits and the employers also pay 4 percent, so it is a total of 8 percent."
He said more monies are deducted for other benefits and Social Security pays for a sickness related leave; however, he said recommendations were made for "pandemic leave".
"I had never heard about pandemic leave before but it was recommended that we give something called pandemic leave to those persons who are working but have health issues, it may be better for them to stay at home rather than risk getting the Coronavirus infection," he said.
Leaved granted for health reasons
Dr Vanterpool noted that those types of people would suffer if they do get the virus and that at his medical institutions, doctors had approved leave as a result of the pandemic situation, with some cases having accompanying Social Security forms submitted.
"This is a national, in fact, international sickness-related situation, people might not be sick but they are forced to lose their income because of a sickness that is going around. The virus is affecting all of us."
He said Social Security having accumulated monies over the years from employee and employer contributions, should, therefore, be looked at to pay benefits to unemployed people as a result.
Dr Vanterpool also pointed out that the situation now is a special one and that provisions have to be made, given the global crisis and for people who are in need, "Social Security has been collecting funds over the years," he said.
US Stimulus Package comparison
As a result of no productivity in the business community, Dr Vanterpool also called for support in relation to employers, "Businesses who have been paying need to get some kind of compensation as well," he said.
Dr Vanterpool pointed to the United Sstates of America (USA) where a stimulus package has been developed for payouts to families and individuals who qualify, and who may have suffered from the COVID-19 pandemic situation.
"This is a health-related situation and we have paid into Social Security over the years and I believe that the Social Security Board or Social Security system should make some sort of a contribution to those people who are not having an income because of this pandemic situation," Dr Vanterpool said.
Meanwhile, Governor Augustus J. U. Jaspert on Saturday, March 28, 2020, said the Social Security Board (SSB) Fund is "very robust".
.png)
.png)
.png)
Follow Us On
31 Responses to “SSB needs to step up in this crisis, says Dr Heskith A. Vanterpool”
Mas R sell out a number of workers at the hospital by forming a Health Board and not adequately providing for the wellbeing of some of its workers and now some of them cannot get an adequate pension after working for twenty to thirty years without any means of redress as both the government and the hospital will not do anything to address this issue for workers who have served with distinction over two to three decades.
SSB should step up! The people need them money they put it. We ain't waiting for we dead. When we dead, weapons on a sheet, dig a hole and put us in. That would cost way less than $500.
Looks like if john give out of the SSB kitty, will affect those admiring it's contents.
"As a result of no productivity in the business community, Dr Vanterpool also called for support in relation to employers, "Businesses who have been paying need to get some kind of compensation as well," he said."
STOP talk Sh!t. SS funds were NOT designed to pay businesses. The funds ARE for individuals and if they have businesses or are self employed, the employer/employee contributions are for individuals NOT businesses. We are no longer in the dark days. Those days were when the rich stole from the poor.
The sharks are coming ...
If Andrew don't have the ghuts to deal with this one with our Monies by Social Security. Which I do hope they work out a deal before this (2) week curfew is up. We'll organize the biggest march to date in the VI.
yeah go march. Great idea.
Removing those funds for welfare payments should stipulate the repayment to be made by doubling social security payments from employees and provision made for an -, unemloyment benefit scheme within the labor department. Soc Sec must be secured for its stated purpose. It is a benefit established for the most vulnerable..( the aged and the infirmed)
The following is an excerpt of a press release from Jeanette Scatlifffe Boynes on 10 January 2017:
‘The Social Security Reserve Fund currently stands at approximately $580 million with $192 million invested in US and Global equities; $206 million invested in fixed income and convertible fixed income; $80 million in local credit and equity investments; and $98 million in CD’s and cash at local banks.’ What is the current value of the Reserve Fund? Secondly, how long will the social security trust fund be solvent, ie, when, if, will Social Security run out of funds?
The board has the right to stand their ground and remain FOCUS to their cause. Let @*........ and his failed government put back our money in OUR treasury so we can go on living comfortably. Treat our people according to your profession and stop robbing us blind in your practice. Lower your fees and give more of your self to the sector....$$$$$!!
That could be a viable option too.
Coming from a Millionaire ...
The CEO and the Board of SSB dont like people benefit from SS them only want to raise them pay check and they know that SS has millions sitting in the Bank that we cant get. They dont even give you enough money to have the cheapest funeral. THE GOVERNMENT NEED TO ADDRESS THIS ASAP AND BACK PAY UNEMPLOY PEOPLE FROM THE MONEY AFTER THE AMENDMENT.