– Dr. Ashni Singh
…says age-old challenges must be addressed by new Board
At the first meeting of the National Insurance Scheme (NIS) Board on Monday, Senior Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh told Board Members that the Government is on a mission to return the scheme to financial viability.
Dr. Singh said that the Government is concerned with the number of complaints received by the NIS from contributors about delays in receiving their benefits and entitlements, usually, as a result of incomplete records of their contributions to the Scheme. He requested that the Board address this problem immediately to public satisfaction.
“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,” the Senior Minister said, according to a release from the Finance Ministry.
He also emphasized the level of importance his Government has placed on NIS, reminding the Board that pensioners and retirees look forward to their pension in a timely manner while current contributors expect to receive their benefits promptly.
The NIS Board’s maiden meeting was held at the NIS complex, Carifesta Avenue. Just over a week ago the Minister announced the appointment of former Private Sector Commission (PSC) Chairman, Mr. Ramesh Persaud as new Chairman of the NIS Board.
Persaud is also currently the Chief Executive Officer (CEO) of the Institute of Private Enterprise Development (IPED) and also serves as a member of the Guyana Sugar Corporation (GUYSUCO) Board. The other members of the Board are Ms. Holly Greaves (ExOfficio), Mr. Faizal Jaffarally, Ms. Yvonne Pearson, Mr. Maurice Solomon, Mr. Satanand Gopie, Ms. Kathleen Jason, Mr. Seepaul Narine and Ms. Jillian Burton-Persaud.
