DCOA President Ophelia Olivache’-Marie is OK with the DSS move to increase the Pensionable Age and the Contribution Rate, which came into effect January 1, 2021

Referencing the recent increase in The Pensionable Age and the Contribution Rate, President of the Dominica Council on Ageing (DCOA), Mrs. Ophelia Olivace Marie, told Q95 news on January 28, 2021, she supports the move of the DSS in implementing these increases.
 
On December 15, 2020, Members of the public was 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 took effect as of 1st January 2021: 
 
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—was increased 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.
 
Regarding the Increase in the Contribution Rate, the contribution rate in respect of Employees, Self-employed persons and Voluntary Contributors increased from a ¼ % (0.25%). numerical Examples of the New rate are as follows:
 
Category of Contributor    
Old Rate (Applicable during 2020)
New Rate (Applicable during 2021)

Employees
6.00%
6.25%

Self-employed Persons
12.25%
12.50%

Voluntary Contributors
10.90%
11.15%

 
Mrs. Marie adds that these measures ensure that DSS is able to effectively continue its existing mandate to the General Public.

​President of the Dominica Council on Ageing (DCOA), Mrs. Ophelia Olivace Marie