He challenged a new NIS board to improve services
– make an entity viable in the long term
– improve claims processing and payment of benefits
Kaieteur News – The newly announced National Insurance Plan (NIS) Board on Monday held its first meeting at the NIS center, Carifesta Avenue.
A Senior Minister in the President’s Office with responsibility for Finance, Dr. Ashni Singh, present, advising the scheme board on the level of work required and the challenges ahead in relation to the various issues to be addressed in the plan, and the Ministry of Finance statement yesterday.
Also, thanking the Chairman, Ramesh Persaud and Board members for accepting the appointments, the Minister outlined some of his Government’s expectations in terms of the work needed to bring NIS back to financial viability.
“Over the last few years, we have seen the progressive decline of the scheme. The NIS faces many challenges at the macro level and has come under serious threat. So, it will take a lot of work to return the plan to long-term financial viability, ”the Senior Minister reiterated.
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.
Minister Singh expressed serious Government concern about the number of complaints received from contributors about delays in receiving their benefits and entitlements, sometimes as a result of incomplete records of their contributions to the scheme.
“As such, it asked the board to address this problem immediately, with a view to ensuring that public satisfaction with the level of service provided by the NIS is improved urgently.”
Just over a week ago, the Minister announced the appointment of former Private Sector Commission (PSC) Chairman Ramesh Persaud as the new NIS Board Chairman.
Persaud is also currently the CEO (CEO) of the Private Enterprise Development Organization (IPED) and is also a Board member of the Guyana Sugar Corporation (GuySuCo). Other Board members are the General Manager, Holly Greaves (Ex-Officio); Faizal Jaffarally; Yvonne Pearson; Maurice Solomon; Satanand Gopie; Kathleen Jason; Seepaul Narine and Gillian Burton-Persaud.