The new National Insurance Scheme (NIS) Board held its first meeting on Monday and Finance Minister Dr. Ashni Singh urged that it immediately address complaints from contributors about delays in receiving their benefits and entitlements. According to a statement issued by the Finance Ministry, at the meeting, held at the NIS complex, on Carifesta Avenue, Singh registered the government’s “grave concern” about the situation, while noting that incomplete records for contributors at the scheme is sometimes the source.
“…[H]e tasked the Board with addressing this problem immediately, with a view to ensuring that public satisfaction with the level of service provided by the NIS improves urgently,” it added.
The statement also said Singh told the board of the level of importance his government has placed on NIS, reminding that pensioners and retirees look forward to their pension in a timely manner while current contributors expect to receive their benefits promptly.
He also noted the level of work needed and the challenges ahead in relation to the various problems to be addressed at the Scheme.
“Over the last several years, we have seen the progressive decline of the Scheme. The NIS faces a number of challenges at the macro level and has come under severe threat. It is therefore going to take a lot of work to return the Scheme to long term financial viability,” he was quoted as saying.
Just over a week ago, the ministry announced the appointment of former Private Sector Commission (PSC) Chairman Ramesh Persaud as new Chairman of the NIS Board. The other members of the Board are Holly Greaves (Ex-Officio), Faizal Jaffarally, Yvonne Pearson, Maurice Solomon, Satanand Gopie, Kathleen Jason, Seepaul Narine and Gillian Burton-Persaud.
