Social Security extends coverage to self-employed

If you are employed to work in Belize, then by law your employer is obligated to enrol you in the Social Security system. But what if you are one of the thousands of Belizeans who work for yourself? Until now you could not take advantage of the many health and retirement benefits of Social Security. According to a release from the Social Security Board, self-employed persons between the ages of eighteen and sixty will be able to enrol voluntarily in the scheme and become eligible for all benefits. The cost of contributions amounts to seven percent of insurable income between fifty-five and three hundred and twenty dollars per week, the same rate now paid by workers and employers. According to the S.S.B., the move, approved last week by Cabinet, is the result of general consultations held in 1999 and 2000 and specific surveys conducted in March of 2002. Interested persons may begin the registration process as of November first.