Steps Taken to Put the Island's Social Security Fund Back on Track
The Government of Montserrat is pushing ahead with efforts to ensure the survival of the island’s social security fund.
The Social Security Fund has previously informed Government of challenges it is experiencing which would have “serious impact on its ability to meet its obligations” as the Fund is projected to deplete its reserves by 2025.
Premier the Honourable Joseph Farrell says this year's one off payment or injection to the fund coupled with, government paying more in it’s contributions to workers and residents paying more to the fund are first steps on the right path, to putting the social security fund back track.
Premier Farrell was speaking during day 2 of the 2022/23 budget debate