BASSETERRE, ST. KITTS, JUNE 5TH 2013 (CUOPM) – The St. Christopher and Nevis Social Security fund is now valued at EC$1.2 billion and is the second largest in the Caribbean region.
So says Social Security Director, Mrs. Sephlin Lawrence during a ground breaking ceremony for the new social security building on the island of Nevis.
“All of us citizens and contributors must be proud of our programme. It is from this resource as well as from future contributions and investment income, that we will finance the construction of a beautiful office with modern conveniences to provide improved service to the public of Nevis,” said Mrs. Lawrence.
She said the new three-story building with a basement and parking is expected to cost EC$17.7 million and is expected to be completed in 18 months.
“Part of the building will be available for rental to augment our investment income,” said Mrs. Lawrence, pointing out that Social Security investments in Nevis are on-going.
She said that Social Security has outgrown the current office in Charlestown, Nevis and the Board decided to construct a new office in a developing commercial area in Nevis.
“Construction is one of the main activities which propel our economy. A thriving economy leads to a vibrant Social Security and over the years Social Security has developed phenomenally, primarily because the economy has done well,” she told invited guests including Prime Minister the Rt. Hon. Dr. Denzil L. Douglas, who is also Minister of Social Security.
Mrs. Lawrence said that Social Security has been involved in numerous projects including the Cherry Gardens Housing Development and the renovations of the Cotton Ground Police Station.
Social Security has outgrown the current office in Charlestown and the Board decided to construct a new office in what is deemed to be a developing commercial area in Nevis.
She said construction is one of the main activities which propel the St. Kitts and Nevis.
“A thriving economy leads to a vibrant Social Security. Over the years Social Security has developed phenomenally, primarily because the economy has done well,” said Mrs. Lawrence.
She added: “We have demonstrated our commitment to the improvement of the living standard of our insured persons. We have advanced education, healthcare delivery, sports and by investing in financial institutions, we have indirectly and positively influenced the living standards of many persons, indeed I say the whole of Nevis.”
She boasted that as result of the St. Christopher and Nevis Social Security, the elderly in Nevis have been able to live with dignity and pride.
“No other institution in the Federation has done as much to improve the plight of the poor or even the average citizen whether resident in St. Kitts or Nevis,” said Mrs. Lawrence who further pointed out that the Social Security Board “remains committed to protecting the fund not only for pensioners but as a means of fostering the continued development of the Federation.”
“Social Security must be safer, sounder and more financially secure than we met it. That is our pledge,” said Mrs. Lawrence.