Employees at Risk If Social Security Contributions Not Honoured
Friday 14th December, 2018-The Executive Director of the Social Security Board wants defaulters to view unpaid deductions not as arrears owed to the statutory body, but rather “arrears owed for one’s employees.”
Millions of dollars are owed to Social Security and this has resulted in a shortfall, with Social Security struggling to meet their financial obligations to beneficiaries.
In an interview with POINTE FM’s Nightly News, David Matthias said the failure of employers to pay the deductions made from salaries is putting employees at risk. He is pressing for workers to inquire of their employers whether they are honouring their obligations.
Mr. Matthias says Social Security has petitioned the courts in many instances. However, he is reminding employers that are experiencing difficulties in paying the contributions that the organization remains open to discussions on how best the matter can be resolved.
The Social Security Board’s executive director says an effective plan implemented has yielded positive results throughout most of the year, but he identified a shift in the labour market may be one of the reasons impacting the timeliness of payment.
The Board has made a request for $15 million dollars from the government to meet the amounts required in December 2018 and January 2019.
Mr. Matthias is assuring beneficiaries they will receive their payments on time.