25th Anniversary Of Self-Employed Coverage
BASSETERRE, ST. KITTS, 1st July 2021 — July 1st 2021, mark the 25th year since the introduction of Self-employed Coverage by the St. Christopher and Nevis Social Security Board. The aim from inception in 1996, was to ensure that entrepreneurs were provided with income protection and to uphold Social Security’s mandate to offer universal coverage for all workers.
Before 1996, Self-employed Persons were unable to access the range of benefits offered by Social Security. To address this, the Social Security Act, No. 13 of 1977 was amended with Self-employed Regulations thereby providing the legal framework by which Self-employed persons derived their rights and responsibilities.
Since its introduction, 5,842 self-employed persons have registered and have contributed a total of $30.62 million from July 1996 to June 2021.
The Self-employed Sector continues to be one of the fastest growing economic drivers especially at a time as this when the insured populace is seeking innovative means to provide for themselves. The data reflects that the top 5 sectors according to registration for the period 2015 to 2019 are distributed as follows:
Wholesale & Retail Trade (20%)
Construction (16%)
Transport, Storage & Communications (14%)
Real Estate, Renting and Business Activities (11%)
Other Community, Social & Personal Activities (10%)
Over the years, Social Security has demonstrated its commitment to the Self employed and have engaged the sector in symposiums and other initiatives geared towards improvement and fostering a relationship that is mutually beneficial. Our most recent direct support to the Self-employed included the processing of covid19 relief fund payments up to the tune of $282 200 in April to June 2020.
The organization is cognizant of the current challenges faced by the Self employed during the ongoing coronavirus pandemic. As this sector continues to adjust their operations, the Board will lend support and focus on the following objectives:
- Training
- Digital Transformation and
- Creating a customer-centric operating and business model
As the model for business continuity is evolving, it is imperative for the Institution to design effective, efficient, and coherent strategies in a post-Covid era. Hence, the following activities will be offered throughout the month of July:
- Virtual #Back2Business Seminar
Date: Wednesday 21st July 2021 – 7pm to 8pm
Presenter: Mr. Denzil Crooke, O.B.E
Topic: Unbox your Business Brain (post-Covid strategies to get you #Back2Business).
- Live Shopping with Social Security
A fun and unique virtual shopping experience featuring local vendors. Dates: 14th, 21st, 28th, July 2021.
These activities aim to ignite innovation and bring awareness to local vendors in the sector.
The Social Security Board wishes to congratulate all Self-employed persons who have registered, benefitted and complied with their obligations to make the coverage meaningful over the years. The Board encourages the Self-employed to share their ideas and thoughts with us and other Self-employed persons in order to promote the virtues of self-employed coverage.
Throughout the month of July, our public relations efforts will include digital content geared specifically towards the Self-employed and engagement of the Self-employed to promote business continuity and compliance. Happy 25th Anniversary of Self-Employed Coverage ~ 25 Years of Sustaining the Self employed.