It is my honour and privilege to address you on the occasion of Social Security Week 2019, which is being celebrated under the theme “Social Security: Promoting a Culture of Health and Financial Security”. The Social Security Board every year invites the people of Anguilla to celebrate with it during the week in which November 3rd falls, that being the day that the Social Security Act was passed into law in 1980.
The passage of the Act was a symbolic representation of the vision of the Father of the Nation, the Honourable James Ronald Webster, to provide for the welfare of workers and their family in the new economy which was being created in the “New Anguilla” that the Revolution, just over a decade before, had set out to build. It was passed in the House of Assembly, but not without dissent and disbelief as to the chances of success of such an endeavor. It was further met with naysayers and other manifestations of opposition as it was taken to the public.
Given those circumstances, it was quite possible that the Social Security Act might well have suffered the fate of other Acts that were passed into law in 1980 but never implemented. However, possessed of the same determination with which he led the Anguilla Revolution, Mr. Ronald Webster pursued the realization of his vision for a Social Security System, of which we can all be justly proud today.
The Social Security System is undoubtedly the second most important contribution to “Building a New Anguilla” after the Revolution itself. Indeed, as I stated during the funeral service of Mr. Webster, “even though historians will record the Anguilla Revolution of 1967 (and its accompanying economic take-off) and the introduction of the Social Security System in 1982 as two separate and distinct events, for all intents and purposes they are tightly intertwined, interdependent and mutually sustaining. Suffice it to say that the Social Security System is playing an extremely important role in ‘Building a New Anguilla’, which is what Mr. Webster and his ‘band of pioneers’ set out to do in 1967.” It is appropriate that we remember the tremendous sacrifices and contributions of those who laid the foundations for what we enjoy today in our beloved island.
As has been our practice, we began the week with a church service, being very mindful that “except the Lord builds the house, they labour in vain who build it”. As I said in a brief address at the service, this year’s theme focusing on Social Security promoting a culture of health and financial security fits very neatly into the prayer of 3rd John verse 2, “ Beloved, I pray that you may prosper in all things and be in health, just as your soul prospers”. For what would it profit us if we have financial security but do not have good health to enjoy it, or if we have good health but no financial means with which to enjoy life?
Social Security has a vested interest in the health of the workers of Anguilla, as unhealthy workers leave the workforce earlier and therefore contribute less to the Fund, and consequently, begin to benefit earlier from the Fund. It has been well said that “The Health of the Nation is the Wealth of the Nation”, similarly, it is true that the health of the worker is the strength of the social security system. The Board, therefore, continues to promote equitable, efficient and affordable health care for all, to support healthy lifestyles, and to advocate for the introduction of a National Health Insurance programme for Anguilla.
In this regard, the Social Security Board is pleased to host, during Social Security Week, the 13th Caribbean Conference on National Health Financing Initiatives, bringing together about 100 participants from throughout the Caribbean and beyond. The Conference’s theme “Health Financing: Fiscal Space and Sustainability Challenges” also fits neatly into the theme for Social Security Week. During the week as well, the Social Security Board/University of the West Indies Open Campus Distinguished Lecture will be delivered by the Conference’s Programme Coordinator Dr. Stanley Lalta of the Health Economics Unit of the University of the West Indies, St. Augustine Campus. Thursday night’s lecture will be on topic “Connecting the Dots: Patterns of Work, Health and the Future of Social Security in the Caribbean”.
Regarding the second aspect of Social Security Week’s theme, the Social Security System seeks to provide financial security to workers and their families through a pooling of risks. The ability to provide financial security for individuals, however, is dependent on a strong, sustainable Fund. Our success in creating such a Fund is borne out in my recent written statement to the Public Accounts Committee, which I quote, “The financial strategy of the Social Security Board, in a nut-shell, is to maintain a strong, sustainable Social Security Fund which collects all revenues due, pays meaningful benefits to qualified recipients, and prudently invests surplus funds, through efficient administrative systems…The Social Security Board has had good success in carrying out its financial strategy, with the Fund continuing to perform in accordance with the Actuarial Model. Notably, the Fund has not yet reached its equilibrium, i.e. where Income equals Outgo, and is not projected to do so for a number of years into the future. Cost pressures include increasing benefits and administration costs. Notwithstanding these, annual surpluses continue to be generated, and the Fund continues to grow and approach the EC$400 million mark.”
In conclusion, I wish to acknowledge the contributions made to the System by present and former Ministers, Board and Staff Members, Employers, Employees and other Stakeholders, and to solicit their continued support as we continue to build a strong, sustainable social security system and an Anguilla – Proud, Strong and Free!
Thank you!
