S.S.B. Discusses Contributors’ Money During Media Mixer

The Social Security Board, including Chief Executive Officer Deborah Ruiz, met with reporters earlier today for a media mixer during which several issues relating to contributions, pension, and investments were discussed.  According to C.E.O. Ruiz, S.S.B. has been putting together a comprehensive strategy to ensure the welfare and security of Belizean citizens, particularly those who are vulnerable or living in poverty.  It aims to provide a safety net that helps individuals and families cope with life’s uncertainties, such as unemployment, illness, disability, or old age.

 

Deborah Ruiz, C.E.O., Social Security Board

“As you know, we have been working this past year on a national social protection strategy.  It is key that people appreciate the value that social insurance can bring to them and for them to understand that the contribution that that they make, that the Social Security Board is making in investments so as to minimize the need to go back to them for any contribution increase and still being able to pay a benefit that can satisfy the income replacement needs in the future when they need it.”

 

Reporter

“How do we go about changing that perception that social security di play with wih money?”

 

Deborah Ruiz

“Yes, and part of that process are sessions like this where we are able to engage and explain our process. We also have our annual SSB Connect where we do have a physical presence but we also stream it live on Facebook where, as part of our mandate, we give the annual report summary to the people, in terms of the performance of the fund and all the different investments that we have made and, as you know, part of the process right now which is a little cumbersome because it has to go through a process in terms of the turnaround of how we can respond to applications to notify people of how the board intends to invest the money.  So right now on our website the financial statements are available.  And so, what we are trying to do in terms of going forward, not everybody is an accountant or have a full understanding of these reports so we are trying to explain to people in layman’s terms what those reports are saying.”