1 / 11

The Self–Employed-a critical gap in the Caribbean social security systems

The Self–Employed-a critical gap in the Caribbean social security systems. Frank W. Alleyne GCM,Ph.D. Diversity of the self-employed class. Highly paid professionals Small business persons Informal sector own- account operators Small farmers Fisher folk. Social security challenges.

Download Presentation

The Self–Employed-a critical gap in the Caribbean social security systems

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Self–Employed-a critical gap in the Caribbean social security systems Frank W. Alleyne GCM,Ph.D

  2. Diversity of the self-employed class • Highly paid professionals • Small business persons • Informal sector own- account operators • Small farmers • Fisher folk

  3. Social security challenges • Coverage of both groups is problematic. • But it is a greater problem among the low income group.

  4. Why is low coverage of the self- employed a cause for national concern? • Undercuts the purpose of social security. • Exposes vulnerable groups to hardships. • Absence of a logical connection between high lifetime earnings and the ability to plan for retirement.

  5. Extent of coverage • Statistical information is generally unavailable. • Estimated high of 22% -Barbados • Low of 7% in Dominica.

  6. Self –employed status of coverage

  7. Self-employed status of coverage

  8. Factors accounting for the coverage gap • Exclusion at the inception , appears to have generated a perception of discrimination. • Social security Boards` reservations with respect to manipulation of regulations. • Higher costs of premiums and lower levels of coverage. • No representation of the self-employed at the policy level. • Weak compliance mechanisms. • Low levels of investment in public education.

  9. Confronting the challenge • Reform governance system to include representatives of the self –employed. • Revise the necessary legislation to require that professionals and other established business persons who are required to register yearly, provide a certificate of compliance with the Social Security legislation.

  10. Confronting the challenge (cont`d) • Conduct surveys to prioritize the needs of the self-employed for coverage. • Assist the self-employed in strengthening the capacity of their organizations to deliver education programs in partnership with the Social Security organizations.

  11. Confronting the challenge (cont`d). • Provide for flexible contribution systems to accommodate individuals who experience irregular earnings patterns. • Provide for mandatory coverage and the compliance resources to give effect to the legislation.

More Related