The Federation of Independent Trade Unions of Guyana (FITUG) says the 50th anniversary of the National Insurance Scheme (NIS) is a worthy celebration but the threat to the Scheme’s viability overshadowed the occasion.
In a statement, FITUG said that the NIS has assisted in providing sustenance during difficult times and provides some degree of comfort to workers during their golden years.
“Today as the Scheme celebrates, it does so not without also facing challenges and difficulties. The most recent actuarial report does not paint a blissful picture. Indeed, it is most depressing and for us a cause of great worry and anxiety. The actuaries have recommended several painful measures which need to be considered against the contemporary context of Guyana. Our Federation had expressed our views on the suggestions proffered pointing out that they are not in the interest of the Guyanese working-people who stand to be deleteriously affected”, FITUG said.
It added that the NIS remains practically the only contributory pension scheme for a large number of Guyanese.
“Therefore, the long-term survival and sustenance of the Scheme is not a question. There must be an unequivocal statement for its continuance, and all measures to ensure such possibilities should not be disregarded, indeed, must be pursued”, FITUG added.
