Social Security is social insurance that replaces part of your income from work when you become sick, pregnant or disabled. It also replaces part of your income when you retire or die leaving survivors. It provides insurance for you and your family.
By Law, all Belizeans are required to be registered. The SSB Act states “the mother of every child in Belize shall register such child with the board within thirty days after birth, to obtain in respect of that child, a registration card.” The Social Security card also becomes a second form of personal ID.
By Law, all Employers are required to pay contributions and provide pay slips for every payday showing contribution deductions made from the salary of all their currently employed staff/workers.
Employees also have the right to report Employers for none payment of contributions by visiting the nearest SSB Branch Office to submit a FIN59 form. An inspector will be assigned to the case with an investigation to follow. The entire process will be kept completely confidential.
Employers must first formally register as an employer/business and provide an employee listing by submitting R1 and R1A Forms. Employers can also apply for the Online Contributions Portal to pay online and submit their contribution statements electronically.
SSB replaces 80% of a person’s insurable earnings, not their salary. The Employer is responsible to pay the remaining balance of the employee’s full salary for up to 16 days according to the Labour laws of Belize.
The Maternity Benefit includes an allowance for a maximum of 14 weeks that replaces the insured female’s income for days off from work. The Maternity Grant is a one-time payment made to either the insured mother or insured father on the birth of their child.
The deceased Insured Person must have 500 overall contributions for family members to qualify for a Survivor’s Pension. If the deceased Insured Person has 26 to 499 overall contributions, family members may then qualify for a Survivor’s Grant.
Insured Persons are eligible to retire from ages of 60 – 64. However, must no longer be employed and have 500 overall contributions to qualify for the Retirement Pension. Insured Persons with 26 to 499 overall contributions may qualify for the Retirement Grant.