Social Security is a compulsory insurance plan to which employers, employees, self-employed and voluntary contributors contribute. Social Security is designed to protect insured persons from financial distress by providing partial income replacement when certain contingencies arise.
The following benefits are awarded to qualified insured persons:
* Employment Injury
The Social Security Board was established by an Act of the Legislative Council, No. 17 of 1979. It came into effect on July 2, 1980.
The Social Security Board is a Statutory Body, under the portfolio of the Minister of Health and Social Services.
The Minister appoints a Board of seven members:
* Two members representing employers
* Two members representing employees
* Two members representing Government and
* The Director of the Social Security Board
The Board is responsible for the management of the organization. The Act specifically charges the Director with the responsibility for the management of the Fund, in particular the collection of the contributions and the payment of benefits.