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<h1>Social Security Programs Throughout the World: The Americas, 2003</h1>
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<h1>Bermuda</h1>
<div class="exchangeRate">Exchange rate: U.S.$1.00 equals 1&nbsp;Bermuda&nbsp;dollar&nbsp;(B$).</div>
<h2>Old Age, Disability, and Survivors</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First law:</span> 1967 (old-age and survivors).</p>
<p><span class="h4">Current laws:</span> 1970 (old-age and survivors); 1980 (disability); and 1998 (occupational pensions), implemented in 2000.</p>
<p><span class="h4">Type of program:</span> Social insurance, social assistance, and mandatory occupational pension system.</p>
<h3>Coverage</h3>
<h4>Social insurance</h4>
<p>Employed and self-employed persons over age&nbsp;16, except full-time students who work weekends or during school vacations.</p>
<p>Exclusions: Those who are not ordinarily resident, unless gainfully employed for more than 26&nbsp;consecutive weeks.</p>
<p>Voluntary insurance for persons who were previously covered.</p>
<h4>Social assistance</h4>
<p>Bermudan residents are eligible for social assistance pensions.</p>
<h4>Mandatory occupational pensions</h4>
<p>Employees aged&nbsp;23 or older who are Bermudan or the spouse of a Bermudan and who have worked 720&nbsp;hours or more for their current employer in any calendar year.</p>
<h3>Source of Funds</h3>
<h4>Social insurance</h4>
<p><span class="h5">Insured person:</span> B$23.20 a week; if over age&nbsp;65, none. The self-employed contribute B$46.40 a week; if over age&nbsp;65, B$23.20 a week.</p>
<p><span class="h5">Employer:</span> B$23.20 a week per employee.</p>
<p><span class="h5">Government:</span> None; contributes as an employer.</p>
<h4>Social assistance</h4>
<p><span class="h5">Insured person:</span> None.</p>
<p><span class="h5">Employer:</span> None.</p>
<p><span class="h5">Government:</span> The total cost of social assistance pensions.</p>
<h4>Mandatory occupational pension</h4>
<p><span class="h5">Insured person:</span> 4% of earnings (5% from January&nbsp;1,&nbsp;2004).</p>
<p><span class="h5">Employer:</span> 4% of earnings (5% from January&nbsp;1,&nbsp;2004).</p>
<p><span class="h5">Government:</span> None.</p>
<p>The maximum annual earnings for contribution purposes to the mandatory occupational pension are B$200,000.</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Old-age pension (social insurance):</span> Age&nbsp;65 with 484&nbsp;weeks of contributions, including 50&nbsp;weeks of contributions for each year of insurance (a reduced pension is paid with between 25 and 49&nbsp;weeks). Retirement is not necessary. The pension is payable abroad.</p>
<p><span class="h4">Old-age settlement (social insurance):</span> The insured does not meet the qualifying conditions for a pension.</p>
<p><span class="h4">Noncontributory old-age pension (social assistance):</span> Age&nbsp;65 and Bermudian with at least 10&nbsp;years of continuous residency during the 20&nbsp;years immediately preceding the application and does not meet the qualifying conditions for the old-age pension.</p>
<p><span class="h4">Old-age pension (mandatory occupational):</span> The normal retirement age is 65.</p>
<p><span class="h4">Disability pension (social insurance):</span> Aged&nbsp;18 to 64, employed immediately before the onset of disability, unable to work during a full year, and 150&nbsp;weeks of contributions with 50&nbsp;weeks of contributions for each year of insurance (a reduced pension is paid with between 25 and 49&nbsp;weeks).</p>
<p><span class="h4">Disability settlement (social insurance):</span> The insured does not meet the qualifying conditions for a pension.</p>
<p><span class="h4">Noncontributory disability pension (social assistance):</span> Aged&nbsp;18 to 64 with 10&nbsp;years of residency and permanently incapable of employment.</p>
<p><span class="h4">Disability pension (mandatory occupational):</span> Assessed as incapable of work due to a physical or mental condition.</p>
<p><span class="h4">Survivor pension (social insurance):</span> The insured was a pensioner or met the qualifying conditions for a pension. The spouse was married to the insured for at least 3&nbsp;years. A widow is credited for contribution purposes for every week she receives a survivor pension and may substitute her husband's contribution record for her own.</p>
<p><span class="h4">Survivor settlement (social insurance):</span> The insured did not meet the qualifying conditions for a pension.</p>
<p><span class="h4">Survivor pension (mandatory occupational):</span> On the insured's death, the pension is paid to a beneficiary appointed by the insured.</p>
<h3>Old-Age Benefits</h3>
<p><span class="h4">Old-age pension (social insurance):</span> B$157.75 a week (B$685.49 a month), plus B$0.92 for every <span class="nobr">26-week</span> period of contributions over 484.</p>
<p>Reduced pension: B$342.74, B$411.29, B$479.84, B$548.39, or B$616.94 a month if the yearly average number of weeks of contributions is between 25 and 29&nbsp;weeks, 30 and 34&nbsp;weeks, 35 and 39&nbsp;weeks, 40 and 44&nbsp;weeks, and 45 and 49&nbsp;weeks, respectively.</p>
<p><span class="h4">Old-age settlement (social insurance):</span> If the insured does not meet the qualifying conditions for a pension, employer and employee contributions are refunded as a lump sum.</p>
<p><span class="h4">Noncontributory old-age pension (social assistance):</span> B$314.59 a month.</p>
<p>Minimum pension (means-tested): B$323.68 a month if income is under B$4,000 a year.</p>
<p><span class="h4">Old-age pension (mandatory occupational):</span> Pension calculations are either based on average earnings or depend on the amount of the insured's accumulated capital.</p>
<h3>Permanent Disability Benefits</h3>
<p><span class="h4">Disability pension (social insurance):</span> B$456.87 a month.</p>
<p>Reduced pension: The benefit is reduced in proportion to the number of average annual weeks of contributions if less than 50&nbsp;weeks but 25 or more.</p>
<p><span class="h4">Disability settlement (social insurance):</span> If the insured does not meet the qualifying conditions for a pension, employer and employee contributions are refunded as a lump sum.</p>
<p><span class="h4">Noncontributory disability pension (social assistance):</span> B$314.59 a month.</p>
<p><span class="h4">Disability pension (mandatory occupational):</span> The benefit depends on the specific rules that apply to the occupational scheme.</p>
<h3>Survivor Benefits</h3>
<p><span class="h4">Survivor pension (social insurance):</span> B$685.49 a month.</p>
<p>Reduced pension: B$342.74, B$411.29, B$479.84, B$548.39, or B$616.94 a month if the yearly average number of weeks of contributions is between 25 and 29&nbsp;weeks, 30 and 34&nbsp;weeks, 35 and 39&nbsp;weeks, 40 and 44&nbsp;weeks, and 45 and 49&nbsp;weeks, respectively.</p>
<p>The pension is payable for 26&nbsp;weeks, or until dependent children reach age&nbsp;16, or for life if over age&nbsp;50 or disabled, or until remarriage.</p>
<p><span class="h4">Orphan's pension (social insurance):</span> B$68.39 a month.</p>
<p><span class="h4">Survivor settlement (social insurance):</span> If the insured did not meet the qualifying conditions for a pension, employer and employee contributions are refunded as a lump sum.</p>
<p><span class="h4">Survivor pension (mandatory occupational):</span> Benefits are based on the value of the insured's contributions, accumulated capital, or accrued benefits. The benefit is paid as a lump sum.</p>
<h3>Administrative Organization</h3>
<h4>Social insurance and social assistance</h4>
<p>Ministry of Finance provides general supervision.</p>
<p>Department of Social Insurance administers the program.</p>
<h4>Mandatory occupational pension</h4>
<p>Pension Commission supervises and regulates the program.</p>
<h2>Sickness and Maternity</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First and current law:</span> 1970 (hospital insurance).</p>
<p><span class="h4">Type of program:</span> Compulsory insurance with a public or private carrier or an approved employer-operated plan (employed persons). Individual or voluntary insurance (nonemployed persons). Medical benefits only.</p>
<p>Paid sick leave and paid maternity leave are provided under employment law.</p>
<h3>Coverage</h3>
<p>All residents.</p>
<p>Employers are liable for carrying insurance for employees and their nonemployed spouses.</p>
<h3>Source of Funds</h3>
<p><span class="h4">Insured person:</span> B$66.60 a month each for an employee and his or her nonemployed spouse. Other insured persons contribute B$133.20 a month.</p>
<p><span class="h4">Employer:</span> B$66.60 a month each for an employee and his or her nonemployed spouse.</p>
<p><span class="h4">Government:</span> A government grant provides 80% of the cost of medical care for residents aged&nbsp;65 to 74, 90% for residents aged&nbsp;75 or older, and 100% for resident children and indigent persons.</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Cash sickness and maternity benefits:</span> No statutory benefits are provided. (Employers must provide paid sick leave and paid maternity leave under employment law.)</p>
<p><span class="h4">Medical benefits:</span> There is no minimum qualifying period, except for a <span class="nobr">10-month</span> waiting period for maternity care.</p>
<h3>Workers' Medical Benefits</h3>
<p>The Hospital Insurance Commission, a private insurance company, or an employer plan reimburses the hospital for services provided. Benefits include inpatient and outpatient services, including room and board; nursing, laboratory, ambulance, and resident doctor services; drugs; appliances; surgery; maternity care; and physical therapy. There is no limit to duration.</p>
<h3>Dependents' Medical Benefits</h3>
<p>The Hospital Insurance Commission, a private insurance company, or an employer plan reimburses the hospital for services provided. Benefits include inpatient and outpatient services, including room and board; nursing, laboratory, ambulance, and resident doctor services; drugs; appliances; surgery; maternity care; and physical therapy. There is no limit to duration.</p>
<h3>Administrative Organization</h3>
<p>Ministry of Finance, through the Department of Social Insurance, provides general supervision.</p>
<p>Hospital Insurance Commission administers the program.</p>
<h2>Work Injury</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First and current law:</span> 1965 (workmen's compensation).</p>
<p><span class="h4">Type of program:</span> Employer-liability system. (The government may require employers to carry insurance.)</p>
<p>Note: This information is from 1999.</p>
<h3>Coverage</h3>
<p>Employed persons and apprentices aged&nbsp;16 or older.</p>
<p>Exclusions: Casual labor, part-time workers, temporary employees, students, and voluntary workers.</p>
<h3>Source of Funds</h3>
<p><span class="h4">Insured person:</span> None.</p>
<p><span class="h4">Employer:</span> Total cost, met through the direct provision of benefits or the purchase of insurance premiums.</p>
<p><span class="h4">Government:</span> None.</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Work injury benefits:</span> There is no minimum qualifying period, but the work injury must last more than 3&nbsp;days.</p>
<h3>Temporary Disability Benefits</h3>
<p>50% of lost earnings (up to a maximum of B$170 a week) or a lump sum. The total benefit paid out may not exceed the permanent disability grant for which the insured would be eligible.</p>
<h3>Permanent Disability Benefits</h3>
<p>If totally disabled, 4&nbsp;years' earnings.</p>
<p>The minimum benefit is B$5,500.</p>
<p>The maximum benefit is B$53,000.</p>
<p>Constant-attendance supplement: 25% of the permanent disability benefit.</p>
<p>Partial disability: A percentage of the full disability benefit proportional to the loss of earning capacity.</p>
<h3>Workers' Medical Benefits</h3>
<p>Benefits include the cost of necessary medical care, including hospitalization (up to a maximum based on the prevailing public ward charge for 56&nbsp;days); emergency outpatient treatment; surgery, according to a fee schedule; medical expenses, including the cost of nursing, ambulances, and medicines, up to B$1,000; the cost of prostheses up to B$2,000; and the cost of transportation up to B$250.</p>
<h3>Survivor Benefits</h3>
<p><span class="h4">Survivor benefit:</span> A lump sum equal to 3&nbsp;years' earnings or B$42,000 (whichever is less), minus any permanent disability benefit payments. The benefit is payable to dependents who were totally dependent on the insured's earnings.</p>
<p>Partial survivor grant: A grant is paid to those who were partially dependent on the insured's earnings.</p>
<p><span class="h4">Funeral grant and medical expenses:</span> Up to B$2,000 is provided if there are no dependents.</p>
<h3>Administrative Organization</h3>
<p>Ministry of Labor provides general supervision.</p>
<p>Supreme Court administers lump sums.</p>
<p>Courts supervise the agreement between an employer and the insured on the amounts payable.</p>
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