Advertisement
JIS News

Story Highlights

  • The National Insurance Fund (NIF) net assets have increased by $8.32 billion for the calendar period that ended December 31, 2015.
  • According to the Ministry of Labour and Social Security’s annual report for 2015, the 11.82 per cent improvement was attributed to improved share prices, money market investments and real estate investments.
  • The NIF is the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid.

The National Insurance Fund (NIF) net assets have increased by $8.32 billion for the calendar period that ended December 31, 2015.

According to the Ministry of Labour and Social Security’s annual report for 2015, the 11.82 per cent improvement was attributed to improved share prices, money market investments and real estate investments.

In the meantime, the current assets of the NIF jumped to $78.7 billion during the same period.

The annual report also stated that the renovation of the Braco property, which is being managed by the Fund, was completed in March of this year and is now fully operational.

The NIF is the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid.