Found at: http://www.anguillaguide.com/article/articleprint/4265/-1/135/
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SOCIAL SECURITY MARKING 25 YEARS Fund Approaching 200 Million Dollars
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The lightning growth of the Social Security System in Anguilla is one of the prides of the island as it prepares to celebrate the 40th Anniversary of the Anguilla Revolution, which has brought about immense prosperity for the people. It is of much interest that the Revolutionary Leader, James Ronald Webster, is the architect of Social Security the 25th Anniversary of which is now being celebrated.
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Mr. Timothy Hodge & Hon. Victor Banks with logo and list of activities
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It was therefore in a delightful mood that Minister of Finance and Social Security, the Hon. Victor Banks, an admirer of Mr. Webster and Timothy Hodge, the Director and Mr. Webster’s nephew, unveiled the logo and programme of activities on Monday this week to mark the 25th Anniversary of Social Security throughout the year.
During the ceremony launching the logo and activities, Mr. Hodge said the theme, “25 years of achievement, a lifetime commitment,” was “ a covenant between workers and the Social Security System and between generations.”
He credited Revolutionary Leader and Anguilla’s first Chief Minister, Ronald Webster, for his dream and vision of introducing the idea of Social Security. He spoke of “the dream of life with dignity when one is unable to work because … of sickness and disability, or in one’s senior years…or when the breadwinner in the family dies.”
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L-R: Governor George, Deputy Governor Reid, Yolanda Gumbs and Ken Hodge
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Mr. Hodge went on: “In Anguilla, we are indeed fortunate that we have built on those dreams to create a strong, sustainable social security system which will have in reserves before the end of next year over $200 million to deliver on its promise of economic security, social justice and dignity.
“It is strong enough to increase pension payments at the beginning of 2007 by 10%. It has outperformed actuarial projections time and again. It is a model system in this part of the world, and so it is fitting that we celebrate. Celebrate, we will! We will ask all those who have been part of this success story that is the Anguilla Social Security System, the persons who have served in whatever capacity – Minister, Chairman of the Board, Board Members, Staff, members of Committees, Actuary, Auditor, the Employees, Employers of Anguilla, to celebrate with us.”
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Social Securities historic photos and decorations
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The address by Chairman of the Social Security Board, Dr. Aidan Harrigan, was delivered by Board Member, Curtis Richardson. Harrigan wrote that Anguilla “is blessed with a healthy and well-managed Social Security System, one with potential to do so much good for Anguilla and Anguillians.” He said the system was also blessed with fine leadership by the various Boards, ably assisted by the Director and Staff over the years. He described the stewardship of the Social Security System as “a challenging and sobering responsibility.”
He quoted the Minister of Finance as having said in December that the consolidated revenues of the Social Security System had then reached EC$158 million. The large fund made “the Social Security Board the island’s largest institutional investor with a need to invest reserves strategically, based on sound diversification principles until such time as it is required to pay benefits.”
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Social Security building and Open Day celebrations
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Dr. Harrigan stated that all those responsible for overseeing and administering the system were “energised by the enormity of the task.” He pledged: “We will do our best to hand over to those who will follow us a Social Security System that is in as robust health as that which we have inherited, so what ever the milestone that is being celebrated, it can always be said that Social Security in Anguilla is indeed a Lifetime Commitment.”
Mr. Banks, Minister responsible for Social Security, stated that Ronald Webster was “indisputably the visionary and the father of the Anguilla Social Security System. It was a singular effort by a man of great foresight who understood the requirements for social justice in a growing nation.”
He said that “as a quasi-governmental institution, the Anguilla Social Security System has a significant role to play in providing strategic support for securing stable national development.” He emphasised that “the lifetime commitment of which we speak demands a constant adjustment of the strategy to fulfil it.”
Mr. Banks continued: “The sustainability of the fund in itself is inexorably linked to sustainable economic development and as such the management and administration of the system must be in sync with policy initiatives being taken by Government. In fact at times when Government is not sufficiently proactive, an effective Social Security Board may be required to lead the way in advancing relevant programmes and actions to achieve positive solutions.”
The Minister pointed out that Social Security had a responsibility to its contributors. “Any new initiatives must be as faithful to that responsibility in the next 25 years,” he advised. “While the Board aggressively pursues positive initiatives for national empowerment in the next period, the sound principles which have afforded it a reputation for effective management, must be maintained.
Just before unveiling the logo and programme of activities, Mr. Banks added: “It is with confidence that the Anguilla Social Security System is well-poised to maintain its relevance into the next milestone and far beyond…I now look forward with great anticipation to the System’s continued relevance in this new period of dramatic change which now confronts it and all other institutions on Anguilla charged with securing national development.”
The activities are divided over the first, second, third and fourth quarters of the year. They include an Employers’ Appreciation Day; a Workshop for Youth; a Boat Regatta; the launching of a Commemorative Magazine, the Walter Hodge Memorial Anguilla Day Lecture; golf, cricket, football, tennis and other sporting activities; a children’s fun and educational fair; a Gospel concert; a Pensioners’ Day; Social Security Week and Annual Public Lecture; the 3rd Biennial National Development Conference; Focus on Health in relation to HIV/AIDS and the Annual Dinner & Staff Awards Ceremony.