NIS Budgets for Reform Activities

Photo: Donald De La Haye Minister of Labour and Social Security, Hon. Shahine Robinson, giving details of reform activities by the NIS during her contribution in the 2017/18 Sectoral Debate in the House on April 26. Seated is Minister without Portfolio in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. J.C. Hutchinson.

Story Highlights

  • The National Insurance Scheme (NIS) has received an increase of $215 million in its budget to allow for the implementation of reform activities.
  • The reform will be implemented in phases. Phase one, which includes strategies for modernisation and improving the operations of the Scheme, has already begun.

The National Insurance Scheme (NIS) has received an increase of $215 million in its budget to allow for the implementation of reform activities.

Minister of Labour and Social Security, Hon. Shahine Robinson, made the disclosure during her presentation in the 2017/18 Sectoral Debate in the House of Representatives on April 26.

The reform will be implemented in phases.

Phase one, which includes strategies for modernisation and improving the operations of the Scheme, has already begun.

“These include amendment of legislation to allow for actuarial reviews every three years; revision of all our application forms; and the roll-out of a new NIS card, beginning June 1 of this year,” she said.

In addition, a new Information Technology (IT) system for the NIS will be rolled out in the second quarter of Financial Year 2017/18.

Mrs. Robinson added that a building to house its Hanover parish office has been acquired in Lucea and staff will move in shortly. Also, ground will be broken for the construction of new offices in St. Ann by the end of June 2017.

Phase two of the reform will include another actuarial study, to be conducted in the 2017/18 financial year, and the evaluation of the governance structure, investment policies and asset allocation of the National Insurance Fund (NIF).

Meanwhile, the Ministry will conduct a perception survey of the NIS. The information will be used to guide the promotion and marketing of the Scheme, to which less than half of the labour force contributes.

JIS Social