Former Chairman of the NIS Jepter Ince Gambled with NIS Funds and L@#*

Walter Blackman is an Actuary and responded to the following comment by the blogmaster as under.

It may seem a trivial observation to make but make it the blogmaster must. How did Jepter Ince qualify to be appointed Chairman of the NIS?

 

David October 5, 2018 12:53 PM
“Thanks for lending your expertise to this matter Walter. Have you heard your professional colleague from Eckler on the matter? She highlighted all the issues we have exhausted in this forum including the lack of audited financials………”

David,

 

I have been following the two recent NIS blogs on BU, and yes, I also read the comments attributed to Ms.Lisa Wade, Principal and consulting actuary at Eckler.

All of the issues at NIS boil down to a chronic state of poor governance, poor management, inefficient use of inefficient technology, and ignorance and incompetence flowing down from on high.

 

Speaking of ignorance flowing down from on high, I was a guest on VOB’s “Tell it like it is” programme one evening around April 2009. A caller mentioned that NIS funds were being targeted to build offices in Warrens for government workers. Government, in turn, was promising to pay a handsome rent. The caller asked for my view on the matter.

 

My view was that the NIS needed to keep its funds as far from government, or any government-related project, as possible. I informed the listening public that the actuary had recommended less government-related investment of NIS funds, not more. I knew for sure that all of the talk about handsome rents will eventually lead to the issuing of useless government paper in the long run.

In the twinkling of an eye, Jepter Ince, Chairman of the NIS at the time, came on the line and blew over the airwaves of Barbados and the Eastern Caribbean like a destructive hurricane.

 

You Walter Blackman are unprepared and have come on this program tonight trying to fool and mislead Barbadians. The NIS Fund is going to get a return of 6% or more on its investment in this project.You don’t know what you are talking about”, he bellowed.

Just to indicate how dangerous (sometimes fatal) it is for a country when people hold important positions, but these people know not that they know not, listen to the actuary’s words on page 4 of the 15th actuarial review:

 

 

After falling behind on its

contributions and rental payments, the Government of Barbados covered some of its arrears by issuing Treasury notes and debentures to the NIF.”

Do you think that Jepter Ince gives two hoots about the useless government paper that goes into the NIF whilst cash is continuously taken out?

Have all the nails needed for the NIS coffin been already hammered into place?

223 thoughts on “Former Chairman of the NIS Jepter Ince Gambled with NIS Funds and L@#*


  1. Maybe if more women shared more slaps we would not now have the need for a “Me Too” movement.

    Stupseee!!!


  2. @Gregory Norville October 8, 2018 9:42 AM “after serving in the Barbados coast guard, the government security guards service, worked in the bridge town harbour as a trainee pilot to manage the boats that dock there, & having worked, & worked here in Barbados( the D.L.P. government now gives me a pension of $ 470: 00 every 2 weeks…I have a wife to support & Bills etc to pay, my query is will the prime minister Mia Amor Mottley, assist me out of this predicament.

    I am a pensioner too so i understand your predicament. Whether or not this PM or any PM can help you, it is possible that you can help yourself. Here are some suggestions:

    if your wife is not of pensionable age, maybe she can go out to work, or return to work.

    Maybe one or both of you can look around in your community to see whether there is a service that you can provide. Does anybody in your community need a room to rent? Can you accommodate such a person? Does anybody need a child or an elder minded? Can you or your wife do that? Does anybody need housekeeping security or gardening services? Can either of you provide such services services. Is there a working family in your community which needs to have meals prepared? Do you have access to a plot of land? Ever so small it may provide fresh food, healthy exercise and a surplus for sale. Since you worked in the coast guard, perhaps you are an excellent swimmer. Do any children or adults in your community need swimming lessons? Can you do that?

    I do some of these things myself in order to supplement my pension. As much as possible I grow my own food, and even though I did “office work” before retirement, from time to time I take a “little pick” as an on-call housekeeper, baby sitter, elder care giver. None of these provide a lot of money, but an extra $200 per month, plus grow my own food does make a difference.

    Recently I made guava jelly for a friend. I enjoy doing this. In turn he installed a handrail for me. No cash changed hands, but he got a product he enjoys, and I got a bit of added security for myself. Barter they call it. In hard times people everywhere resort to barter.And when neighbours engage in barter it has nothing to do with any politician anywhere.


  3. It is allright for people here to talk about contractural obligations, but how many of us here went into church, mosque, synagogue, registry office and promised to another in the presence of family, friends, the state, and God however we conceive he or she to be, until death do us part”

    Then we discovered that we had promised to spend the rest of our lives with a monster–male or female–and we did what we had to do to get out of that most solemn obligation.

    This is life.

    Sh!t happens.

    And when it does we deal with it.


  4. @Tron October 8, 2018 9:59 AM “PM MAM should never ever assist any pensioners. They voted for the DLP for free bus rides.”

    Please note that the pensioners NEVER asked for free bus rides. That stupid DLD ad was probably orchestrated by the evil folks at Cambridge Analitica.

    Although I must admit that i did take a free bus ride today. It was 11;30 the bus was not full. I had my pass. So why not?

    However if the free bus rides disappeared I would not miss them.

    And to besides i had my $2 in my pocket, and the lovely ZR men to wish me well as they brought me home.

    One way or the other, no suffering.


  5. @Tron October 8, 2018 11:00 AM “I endorse devaluation, but not as a free fall of local currency as in Guyana and Jamaica but as a controlled process of readjustment to a new lower but stable level.”

    Glad to note that you are not a completely crazy person.


  6. Atherley should know by now that the people DO NOT trust him or like him and he will not retain his seat next election because the people who elected him thinks he is a SELL OUT..and a fraud.

    ..he should not even entertain the thought of becoming prime minister next election to muzzle anyone when it is clear he cannot be trusted …

    ..he should just take his slave mentality ass and go haul..


  7. @ the Reverend Bishop Pastor Atherley

    De ole man understands how you feel about regulating what is said on social media.

    Both de grandson and me

    In fact he made a Stoopid Cartoon about it for you.

    Here it be

    http://imgur.com/m7odkCa


  8. @pieceuhderockyeahright October 10, 2018 1:02 PM

    Piece, you have the lady looking so nice and sweet and slim and t’ing.

    Next time I am getting my picture taken I will ask you and the grandson to do it for me.


  9. @ the Reverend Bishop Pastor Joseph Atherley

    And just in case you have forgotten all the bluster you has in your first 2 weeks of pretending to be the opposition.

    Here is another Stoopid Cartoon to remind you of your job and how you had pretend promise to examine the credentials of White Hoax people UNTIL YOUR BOSS MIA MAO MUGABE MOTTLEY TOLD YOU TO STOP OVEREXTENDING THE REMIT OF GHE JOB SHE GAVE YOU

    http://imgur.com/pcb9oFc


  10. Mia gotta love that opposition
    She gotta love her BU Team
    Atherley to choke the media
    Enuff as an apologist for land thieves
    Lorenzo as a yardfowl shitting up the yard
    Gabriel as an attacking yardfowl


  11. @ Theophillus

    I wonder if these people like these “optics” (those are the words of the Honourable Blogmaster that i have adopted “these optics”)

    Imagine this man of the so called cloth who is purported to be the leader of the Opposition REFUSING TO DO HIS JOB BUT getting up on national media and saying these words!!

    Can you beleive this?

    Yet he would claim to be the Leader of the Opposition AS WELL AS a priest!!!

    They really think that bajans are stupid and that 120 days into the BLP administration that they can hoodwink us into thinking that everything is all hunkadorie.

    https://i.imgur.com/OUgqRVa.png

Leave a comment, join the discussion.