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About Us
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Frequently Asked Questions
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| There are many challenges facing Social Security in the not so distant future. For example, as the fund gets older, fewer workers are supporting each beneficiary. Present contributors are ageing and at the same time are not having many children of their own, while people are generally living longer, thus collecting benefits for a longer period of time. The Board will have to look at various measures to help sustain the solidarity and viability of the Fund. If the pension age were to be reduced, persons would stop paying in contributions and start claiming their pensions at an earlier age. With less money going into the fund, and more money being drawn out, the fund would soon dry up leaving beneficiaries without a guaranteed source of incomes |
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