NIS Needs Lifeline

This week government approved a $50 million boost to the Unemployment Fund, the first tranche of a $143 million recapitalization of the NIS Unemployment Fund planned over 3 years. Government’s decision comes as no surprise in the wake of over 52 thousand claims filed in 2020 as a result of the displacement of workers caused by the pandemic.

We must not forget contributors over many years have posted concerns about the questionable governance framework National Insurance Scheme has been doing business. Protracted delays of published Audited Financial and Actuarial Review reports continue to shroud the business of our most important statutory agency. If the NIS is to satisfy its mandate to pay pension benefits, it means government has to show greater transparency and implement effective governance measures to protect the fund. Both major political parties when in government have operated the NIS Fund to use the popular analogy like an ATM. Unfortunately in a dysfunctional system of democracy practised, we continue to fail at finding ways to hold successive governments accountable except at 5 year intervals.

Source: NIS Website

It is encouraging to observe government taking some action to protect its mandate to stabilize the Unemployment Fund to honour claims from Barbadians. It is unfortunate the Mottley government has not been able to replicate the same urgency associated with the transition to a Republic by 30 November by addressing long-standing issues affecting the NIS Fund promised on the 2018 election campaign platform. This is another example of another government kicking the can down the road because of political damage considerations. This is another example of a member of the duopoly showing no trepidation to over promising during an election campaign knowing there will under deliver in office.

Source: NIS Website

There is no need to be prolix prosecuting this matter, read the several blogs posted in the BU Archive by entering ‘NIS’ in the SEARCH BOX at the top of the page. That is, if you are interest in discussing an important matter that should concern all Barbadians devoid of the usual political partisan claptrap.

76 comments

  • Strain on shelter

    AN INCREASE in the number of foreign “homeless” individuals has placed a strain on the Barbados Alliance to End Homelessness (BAEH).
    And BAEH’s president Kemar Saffrey said the 30 to 50 visitors this year, who depended on the organisation to provide housing, food, transportation, counselling, and pay some medical expenses, have impacted their ability to cater to Barbados’ growing homeless population.
    He made these comments yesterday during a virtual press conference at which he explained that although the COVID-19 pandemic was a catalyst, in some cases the visitors, who were mostly European, British and West Indian, did not want to return home, although they could not afford to stay here.
    “With the increase of [local] homelessness, we are now adding to that the tourists, and it is not fair that we are being put in the position constantly to support other country’s citizens on a long-term basis. When you are getting these calls week after week to see if you can assist a tourist to function, it is difficult.
    “Sometimes you are asked if you can keep the person overnight and you would graciously approve. But then overnight turns into a week then that turns into three weeks and in some cases months. Because persons in the Caribbean are allowed a six-month stay, that becomes even more challenging because some of them want to stay the full extent of the time even though they don’t have the finances to stay for even a day.
    “We treat them with the best intentions. We give them the best care, as we would give any of the homeless persons, but when you have to render that service for so long on a 24-hour basis, the demand is hard on the organisation,” Saffrey said.
    The BAEH’s shelter only operates from 6 p.m. to 8 a.m., so to accommodate the individuals for 24 hours, the non-governmental organisation had to pay for extra security and food. In some cases, it also paid for PCR testing since some were unable to afford it.
    Saffrey said mental health challenges and culture shock also compounded the visitors’ issues.
    “We’ve had persons that were sent from embassies or consulates and when they came here, they were furious because they thought they were going to a hotel not knowing that they were going to a shelter,” he said.
    While pointing out that some embassies, consulates and various “Friends Of” associations did all they could, he stressed that it was important for some foreign governments to pay closer attention to their citizens.
    “The consulates and the embassies help only to the extent that they can help because it’s a back and forth between them and their countries. So we are calling on the policymaking bodies for embassies to make preparations because we have to understand we are almost two years into COVID-19 and, sad to say, there has been little to no serious effort in place to help people who are stranded,” Saffrey added.
    (TG)

    Source: Nation

    Liked by 1 person

  • I remember BU commenters were on here boasting about government homeless shelters which are STILL TO BE SEEN…so WHERE are they..even visitors are being housed at this private shelter, the only one anyone sees, hears and knows about that actually works and gets NO HELP FROM GOVERNMENT…

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  • I am not going to be negative but 👍 Saffrey👍 needs to take a step back and see if he following his original charter. Whilst it is admirable that he is extending a helping hand, he may have softened over the years and needs to strictly obey the following:

    1) Have an upper limit on the number of visitors that can be accommodated at one time

    3) Have a maximum time that a visitor is allowed to be housed. Immigration is contacted daily after that limit is reached. Consulates/embassies are notified of impending deportations.

    3) Communicate to embassies, consulates and “Friends of” the estimated daily cost of housing, feeding and protecting a visitor.

    4) Ensure counseling is available for some of these visitors.

    It is clear that their grasp of reality may be limited. I am strongly suggesting he gets access to volunteer social workers/psychologists and an immigration lawyer to speak with these visitors on Day 1.

    👍 Mr Saffrey 👍

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  • I remember BU commenters were on here boasting about government homeless shelters which are STILL TO BE SEEN…so WHERE are they..

    What you should is instead of sitting down in front yuh computer and reading shyte on social media and spending the whole day on BU talking the same shyte every day, why yuh don’t get up off yuh lazy lying ass and ask bout them?

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  • Scrap de Unemployment Fund.

    Implement a Singapore formula that works. Have private enterprise consume 75 percent of de Pie.

    Singapore does not implement any unemployment benefits system dedicated to helping the unemployed. It is because the government considers the best way to assist individuals who are retrenched or unemployed is to help them seek re- employment instead of handing out financial support such as unemployment benefits.
    The unemployed can get financial assistance from some public assistance schemes to alleviate their immediate financial hardship such as: Public Assistance Scheme, Interim (Short Term) Financial Assistance, Rent and Utilities Assistance Scheme and Medifund. Also, there are some other financial assistance schemes rendered by non-government agencies. However, all these schemes aim to provide assistance to those who are “less fortunate” and are not confined to the unemployed.
    As the major source of cash relief, the Public Assistance Scheme does not guarantee adequate assistance to the unemployed. The level of benefits is 41% lower than the lowest 20% of household expenditure required for subsistence and the scheme is administered strictly and only half of the numbers of application are approved.
    For the unemployed, the assistance provided by the government departments or non-government agencies mainly in the form of job training, course fee ubsidization, counseling and job data bank services.

    Yes, Singapores GDP is for 2020 was $340.00B, a 9.19% decline from 2019. Singapore gdp for 2019 was $374.39B, a 0.42% decline from 2018.

    BDS Gross Domestic Product per capita in Barbados was last recorded at 13249.42 US dollars in 2020. The GDP per Capita in Barbados is equivalent to 105 percent of the world’s average.

    Source: World Bank.

    1). Have the fund godfathered by Beijing.

    2) Ask Miller for assistance..

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  • @ Frank August 25, 2021 8:32 AM

    Well said. Couldn’t agree with you more.

    Clearly the lady is out of touch with reality.

    Because people in her ‘social media bubble’ have never heard about a government owned homeless shelter, (so she claims), doesn’t mean they DON’T EXIST.

    The National Assistance Board, for example, which is a ‘state owned enterprise,’ operates TWO shelters for the homeless and the Vauxhall Senior Citizens’ Home, is also used to temporarily accommodate homeless people.

    One is the Clyde Gollop Homeless Shelter, which was opened sometime in 1987 is housed in the former Hindsbury Road primary school, Hindsbury Road, St. Michael. It was named after a former Chairman of NAB, Sir Clyde Gollop.

    And, she’s attempting to convince us no one has NEVER heard or seen a shelter that was opened approximately THIRTY-FOUR (34) years ago?

    She could call 535-3131 and ask for further information.

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  • There is a saying “Perfect is the enemy of the good”

    My fear is that Mr Saffrey’s love for his fellowman, his generous, loving and kind heart and his now intentions may overwhelm his decision making process.

    I was looking at the site and there appears to be only one way to donate (correct me if I am wrong). Perhaps he can provide additional methods.

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  • Homeless Shelter:

    De Mottley Soup Kitchen in Queens Park all dem years fed de homeless. Some did sleep around the steel shed. Dey say, one dumplings last in yuh belly a weed.

    Humongous dem dumplings.

    Sir Deighton would special order dumplings on Friday and have dem delivered to he Lowgreen executives office.

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  • “De Mottley Soup Kitchen in Queens Park all dem years fed de homeless.”

    ya and some say…made the needy sign their names in a big book about what property they had to get a meal… and ALLEGEDLY TIEF IT ALL THE LAND etc….AND…people got proof…beware of THIEVES bearing free food from PLANTATIONS they say..

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  • Everything TWO fraud governments have done for the Black/African population in the LAST 55 YEARS has been tied to EVIL, TIEFING, OPPRESSION,CORRUPTION AND SOCIAL REDUCTION….and none of you insipid uneducated yardfowls can change the truth, don’t care how hard ya try…too many people are still alive to expose yall crimes against Black humanity…ya aint changing any narrarive…PERIOD..

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  • @ WURA-revolution

    Nothing ventured nothing gained. Is that de phrase?

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  • Not sure, but ya can ask the generations of victims, they may be able to provide a better answer on what is ventured and what is gained, but at whose expense….they may not have had social media when dealing with demons back in the 60s – 70s – present, but were able to given accurate and coherent accounts about what transpired to drive them into generational poverty, loss of land, massive estates etc and backed it up with proof.

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  • insipid

    Nuf flavor in de soup. De base was backyard fowl, beef flat rib, split-peas. De hint/garnish was Molasses.

    Many white merchants in Barbados sipped out of the Steel Shed kitchen. They never appeared in person. They sent runners with covered buckets on Fridays. I personally picked up soup for Mr. Goddard, who were one of de raw material suppliers. The driver would pull up and I walked to de back and handed off de 3 gallon bucket with no questions ask. I never signed any book. I always get a dumpling to share wid de driver.

    Many Bridgetown merchants indulged:

    Goddards
    Perkins
    Coles
    Dash
    Buckley
    Bynoe
    Seal
    Caves
    Harrison
    Hunte
    Stokes
    Scott
    Arthur
    Randim
    Stouts
    Wards
    Miller’s
    Kings

    Many families got fed on fridays. 1940-1969

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  • Yeah…that’s just about right….. 1940, that’s when the bar association syndicate was created by Edwy Talma and Mottley.,…just in time to go after land and estates….timelines don’t lie.

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  • Why can’t the “narrative” be the truth, the whole truth and nothing but the truth?

    Sigh…

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  • because it’s a LIE to push another rancid, disenfranchising agenda on the Black/African population…not everyone is asleep and believe in fairytales..

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  • Not everyone believed we had shelters for the homeless provided by Government either.

    That is not a fairy tale.

    Stop twisting yarns and deal with plain truth!

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  • If the government shelters were so great and not a hidden secret there wont be that many private shelters and people sleeping, being fed and dying on the streets….am not here to fulfill ya fairytale fantasy…find a politician to do that, there are no limit to the amount ya can find to soothe ya mental slave cover up shit, ya looking in the wrong direction.

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  • Donna August 25, 2021 3:04 PM

    How could a government owned shelter that was in operation for the past 34 years, be “a hidden secret?”

    Besides Saffrey’s, how many other private shelters are there in Barbados?

    There are several reasons why homeless people prefer not to seek accommodation in shelters. For example, there was a guy who was employed, but homeless. He preferred to sleep in a shed on Oistins beach rather than going to a shelter. Among his reasons were the rules and wanting his freedom and privacy.

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  • Artax,

    There are also some on the streets whose families have taken them off the streets several times and yet they return. I knew two such persons from St. Philip.

    Some people are mentally disturbed and all efforts to house them fail.

    WURA does not wish to hear anything that contradicts her chosen narrative.

    Anyone who attempts to tell a single truth that proves her wrong in any area at all is insulted in the worst way.

    I never saw myself as a lucky person but if life is as terrible in Barbados as she says, then lucky I must certainly be. Because I have never met with a stumbling block I could not budge with a little determination and some persistance.

    I awaken each morning with no difficulty I cannot surmount if I put my mind to it

    Henceforth I should be known as Donna, one of the world’s luckiest people!

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  • Donna August 25, 2021 4:40 PM

    Yes, you’re correct.

    As I’ve ‘said,’ there are many reasons why people choose to remain homeless. Some would also prefer their own homes, rather than living in a shelter.

    I also agree with about Waru. The lady hates to be proven wrong.

    I’m sure you’ve also noticed how she is always privy to information days prior to it being made public or
    when a situation arises anywhere, she is ALWAYS fortunate to either witness when it occurs, or has relatives or friends that were involved.

    And, remember, she admitted to ‘making up things, just to make things interesting.’

    But, those of us who discuss these issues are called ‘detractors.’

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  • Cuddear said on here that there is more than one government shelter, others have said on here that there is more than one private shelter, i have only read about the one above and the salvation army with their meal programs, both funded by private people/donations,.

    ..knowing one or 2 homeless people CANNOT SPEAK to or for the dozens living on the streets, being fed by rastas and others and dying on the streets, many of them elderly females as well. It’s not exactly something one can hide, ya can pretend ya dont see not, but it does not mean it’s not happening.

    The way yall boast and carry on, those who know no better would believe there is no homelessness…or .high levels of poverty and employment,, which is deliberately kept in place by design….etc ….but is found everywhere. Pretending cannot change. any of it.

    .,Donna…you try and try like you are the only person on the island and as long as you have no problems, social or financial, everyone else should say the same and pretend likewise and still it does not work…not unlike Mia telling workers with multiple children to feed, got no severance, stolen by hoteliers, got robbed of their benefits and salaries, stolen by hoteliers, to say nothing don’t protest, it will make the island look bad=make her look bad to the criminals she enable…….even if children die of starvation, families end up HOMELESS and their parents end up in prison because they cannot pay their debts etc ….as long as yall put up that false front, that decades old facade, same decayed mentality…good thing the Black population OPENED THEIR EYES….AND ARE WIDE AWAKE..

    …i only insult those who believe they are speaking to slaves with childlike minds…nothing pisses me off more than some pretender who think they are smarter than everyone else and can speak for everyone else…while NOT KNOWING what information others are privy to…

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  • Continue to be pissed because I shall continue to speak the truth.

    We have plenty that needs fixing. No need for lies. Deal with the truth.

    Lies are not helpful.

    The truth is that there are government run homeless shelters.

    The truth is that some people choose not to make use of them. Many of them are mentally disturbed.

    This is true all over the world and that cannot be refuted.

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  • Black philanthropist in BDS ?

    I just got off the phone with my Brother. He said “3 years ago I walked into the Barbados Vagrants & Homeless Society to make a contribution towards the cause and took a detour that resulted from what I deemed as malicious scrutiny.”

    My brother asked “Saffrey” why the specific line of questioning, he was evasive.

    The next day, Mike said he made a substantial contribution to the Salvation Army without obscurity.

    Mike thinks “Saffrey” and his organization has serious problems. They are scared.

    Why?

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  • I ONLY get pissed when people believe they can cover truth with lies and still call it truth…we can attribute the degradation of the island to that…,wilfull structural ignorance that causes uncalled for suffering in Black communities,,,…ignoring reality to upkeep a dying credo…and still talking shite about punching above weight, like if everyone else is brain dead….and got the nerve to invoke dead crooks from 1940s….who WORKED AGAINST THE POOR Black/Afrikan, who were land rich, for self gain….like if everyone died or lost their memories…..the party is over…deal with it…..it lasted over 60 years.

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  • I have never used the term “punching above its weight. I have never even called Barbados a paradise.

    Why? Because neither is true.

    But Barbados is not hell either. It is not helpful to suggest that it is.

    For fifty years I have spoken my truth to even my mother who is more tough than you could ever be.

    If you think a few online insults can stop me now, you overestimate your powers.

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  • @Dirt Farmer
    It is very easy to throw dirt at people (good or bad). In your case, you may have a more than adequate supply of dirt.

    You should not smear the man. Your choices are (1) nail him with irrefutable evidence or (2) leave him untouched.

    If you feel it necessary to reply, please do so without further mentioning the good fellow.

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  • WURA-You -Warrior-YOU

    Have a great night 😥😓😥😓😥😓😥

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  • NorthernObserver

    Based on comments I am guessing the NIS is fine.

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  • @ NorthernObserver

    Of course “the NIS isn’t fine.”

    What I’m concerned about is the fact that, “government approved a $50 million boost to the Unemployment Fund, the first tranche of a $143 million recapitalization of the NIS Unemployment Fund planned over 3 years,” against the background financial statements for the entire NIS fund have been outstanding for a number of years.

    Only in ‘government.’

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  • @ Donna

    Morning words:

    WURA-War-on-U August 25, 2021 3:15 PM #: “If the government shelters were so great and not a hidden secret there wont be THAT MANY PRIVATE SHELTERS and people sleeping, being fed and dying on the streets….”

    Evening words:

    WURA-War-on-U August 25, 2021 5:14 PM #: “Cuddear said on here that there is more than one government shelter, others have said on here that there is more than one private shelter, I HAVE ONLY READ ABOUT THE ONE ABOVE and THE SALVATION ARMY their meal programs, both funded by private people/donations.”

    She cannot help ‘telling’ lies. In the morning there are MANY private shelters………… but, in the evening, she only read about ONE.

    Donna, the ‘bottom line’ is WARU and those of her ilk are DISHONEST, MANIPULATORS of the TRUTH. They readily accept information on social media that reflects negatively on Barbados, as TRUTH, without bothering to verify it is accurate or the source, credible……. simply because it suits their particular agenda.

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  • Employment: New studies reveal solar’s tremendous job-creation potential:
    A report from Finland’s LUT (Lappeenranta-Lahti University of Technology), titled “Job creation during the global energy transition towards 100% renewable power system by 2050”
    Based on a 100% renewable electricity scenario, the study found of all the energy sectors, solar offers the most employment potential, creating 1.73 million jobs in Europe by 2050, which accounts for 51% of all European energy jobs. Further, battery storage will create nearly 300,000 jobs in Europe by 2050. Globally, the solar sector will account for 22.2 million jobs by 2050, representing 64% of all energy jobs around the world. The battery sector will also grow to employ 4.5 million people globally by 2050. O&M jobs across all sectors will grow to account for 52% of all energy positions by 2050, up from 15% in 2015.

    Dr Christian Breyer, Professor for Solar Economy at LUT University and co-author of the study, said: “Solar PV will be the strongest driver for new jobs in the energy sector…

    Renewable Energy Jobs Continue Growth to 11.5 Million Worldwide:
    Abu Dhabi, United Arab Emirates, 29 September 2020 — Renewable energy continues to bring socio-economic benefits by creating numerous jobs worldwide, according to the latest figures released by the International Renewable Energy Agency (IRENA) today. The seventh edition of Renewable Energy and Jobs – Annual Review shows that jobs in the sector reached 11.5 million globally last year, led by solar PV with some 3.8 million jobs, or a third of the total.

    “Adopting renewables creates jobs and boosts local income in both developed and developing energy markets,” said IRENA’s Director-General Francesco La Camera. “While today we see a handful of countries in the lead, each country can harness its renewable potential, take steps to leverage local capabilities for industrial development, and train its workers.”

    Renewable Energy offers great hope for Barbados.

    Like

  • @NorthernObserver

    It is why we are unable to hold government accountable.

    Like

  • Renewables surpasses coal to become second most used fuel source in 2020: EIA

    Renewable energy generation became the second most-used electricity source in the US, behind only natural gas, after surpassing coal-fired generation and nuclear power in 2020, the US Energy Information Administration announced July 28.

    Solar PV costs fall 82% over the last decade, says IRENA:
    Solar photovoltaics (PV) has seen the sharpest cost decline of any electricity technology over the last decade.

    A new report by the International Renewable Energy Agency (IRENA) found that between 2010-2019, the cost of solar PV globally dropped by 82%. Across the board the cost of renewables have fallen, with concentrated solar power also seeing a drop of 47%, while onshore wind costs fell 40% and offshore wind 29%.

    Solar is now ‘cheapest electricity in history’, confirms IEA
    The world’s best solar power schemes now offer the “cheapest…electricity in history” with the technology cheaper than coal and gas in most major countries.

    Energy & Science
    Wind, Solar Are Cheapest Power Source In Most Places, BNEF Says
    By Jeremy Hodges
    19 October 2020.

    Wind and solar power are the cheapest form of new electricity in most of the world today.

    That’s the analysis of BloombergNEF, which predicts a tipping point in five years when it will be more expensive to operate an existing coal or natural gas power plant than to build new solar or wind farms.

    Barbadian need to wake up & let the Sun 🌞 in.

    Like

  • NIS Reserves Projected by IMF to be Exhausted in 2037 – UPP Candidate Craig Harewood Muted by VoB

    ‘The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.’

    https://barbadosunderground.net/2021/08/25/nis-needs-lifeline/

    Like

  • @ de Sun

    “Solar is now ‘cheapest electricity in history’, confirms IEA
    The world’s best solar power schemes now offer the “cheapest…electricity in history” with the technology cheaper than coal and gas in most major countries.”

    $$$$$$$$$$$$$$$$$$$$$$$$$$$

    OUR CHANGING WORLD A GLOBAL ASSESSMENT.

    An island located in the eastern Atlantic with a population of
    approximately 283.000 and one source of dominated energy. A definite political hurdle.
    However, if the masses demands it and trees bear fruit ,Who knows.

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  • Think people should concern themselves MORE with making PERSONAL PLANS to secure the FUTURE for themselves and their families, just in case, and LESS with the political FRAUDS in the parliaments in Barbados and the Caribbean who are RUNNING GAME…and have NO CHOICE but to follow and EXECUTE the agendas and DICTATES of others…..after BEGGING YOU for votes..

    …they will ALWAYS be colonial agents, working AGAINST the best interests of Black/African people for PERSONAL GAIN….that’s the contract they SIGNED ON TO…and WILL NEVER CHANGE…no matter what..republic or not..they haven’t stopped selling out BLACK/AFRICAN yet and NEVER will.

    You do not want to get caught UNWARES or by SURPRISE…

    If yall can’t understand that after over 60 years of the same old, you never will and are on ya own….the hardest thing is to know….can’t say ya don’t.

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  • Afrika saw them immediately for what and who they are and put a swift END TO THEIR DANGEROUS SCAMMING…which will never end…it’s their tradition and legacy…..there is now only ONE WAY they can approach the continent or NOT AT ALL….stop playing games with political TRAITORS…that’s all they were created for…the manufactured, westernized negro.

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  • there is now only ONE WAY they can approach the continent or NOT AT ALL…the way they should have STARTED FIRST…but played slick and got put in their place.,,

    Should clarify…that the Afrikan countries they CANNOT approach with their backward black on black wickedness are exclusive of those now run by Berbers/enslaver Arabs…..and even those like Algeria and Morocco are now in some type of conflict with each other and will not entertain small island rats unless they can find some kinda demoralizing use for them…these are hardcore enslavers whose traditions of enslavement of Black/African people are thousands of years old…

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  • “Have a great night 😥😓😥😓😥😓😥”

    I did, thanks.

    Donna..,that comment was not directed at you.

    All that was to be PROVEN about political frauds in the parliaments and their THIEVERY from and setting up of Black/African populations along with the social conspiracies to trap them and their offspring generationally… IS NOW EXPOSED TO THE WORLD….the people have now become EVEN MORE COGNIZANT than i hoped for or thought possible…this is now the CLEAN UP PHASE.

    That was the mission….and SPECTACULARY, remember that word, successful.

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  • David,

    How many times have we discussed the NIS?

    I think we have all said what we had to say. I, for one, am tired of saying it.

    It is not an isolated problem but rather part of a wider problem in government agencies. Financials are so far behind that it would take an army working around the clock to bring them up to date. I think now is a good time to bring in the army.

    Forgive us for being a little weary!

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  • @Donna

    How many times have we discussed other topics. Important issues that speak to governance must be kept on the front burner, in the same way we rail about Trump and other issues.

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  • NorthernObserver

    @Donna
    Concluding the issues are not isolated and accepting defeat due to weariness, isn’t a solution?
    If citizens allow the politicians to dictate the agenda, defeat is guaranteed.
    As long as the various NIS cheques flow all is good? Hence it won’t be elevated to important until they get cut, or some genius decides devaluation where US$1 buys BDD$4-6, is an easy way to fund NIS benefits or the ever increasing load of unfunded public pensions.
    Appreciate BOTH parties are guilty, and so neither want to do anything but “promise action”. Reporting opens a can of worums best left closed.

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  • Good man @Ryan Walters. There is an opportunity to learn all the talking points related to NIS and be that difference we need to wrestle this matter. Talk to Craig Harewood who did a lot of work as a UPP candidate. Read the many blogs in this space, some by Walter Blackman.

    NIS: https://barbadostoday.bb/2021/08/26/dlp-calls-on-government-to-paint-true-picture-of-nis/

    Like

  • David
    All social securities systems have been threatened for decades under this neoliberal economic model.

    That the NIS has entered a place where it needs a lifeline instead of giving lifelines to both contributors and non-contributors, if there are any of them left, is merely a symptom of that underlying malady.

    The old White man, whose name we fail to recall, who as actuary from the UN, we seem to remember, with Humphrey Walcott, set this up are both turning in their graves.

    Like the frogs in boiling water, are we just waiting until the heat gets too high to try to jump out?

    Do we have no ability to see this as an economic crime against mankind?

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  • @Pacha

    You, NO and others have been preaching like Paul. We need to forget popular narratives and reshape people expectations. There is also the burgeoning pension expense for MPs and other public workers. To say that pension reform is warranted yesterday is the understatement of the decade. The challenge is that NIS cannot be realistically ring fenced in the current environment because of the relationship to the domestic economy.

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  • “All social securities systems have been threatened for decades under this neoliberal economic model.”

    In the 00s warnings came out that Social Security funds only had a shelf life of 25 more years….we are nearly there,

    I for one am extremely pleased that the parliament rats ARE NO LONGER IN CONTROL to do further damage to the island itself with their corruption….with grants to the tune of 150 million in place over a timespan…they can no longer play fast and loose with that money or INVITE every local and foreign crook to partake in scams to relieve the treasury and pension fund of BILLIONS of dollars..without having to account for any of it like they did before and broke the island driving thd Black population into more poverty, they and their minority criminal friends have to keep their PILFERING hands at their sides…

    all is left now is for the people to SAVE THEMSELVES and their families and stay FAR AWAY from the lying TRAITORS….the sensible ones know this only too well.

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  • I for one am extremely pleased that the parliament rats ARE NO LONGER IN CONTROL to do further damage to the island itself with their corruption…and have no choice but to act like the public SERVANTS that the Black population HIRED them to be and they refused for 55 YEARS, elevating themselves instead with bullshit titles, and hoisted themselves so HIGH ON THEIR OWN PETARD…..as Bushman and Miller said for years….that now we can only rack back and wait for the colossal CRASH…

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  • Pacha…had they done as they were supposed to do….am sure the dude who created the concept left them a blueprint for SUSTAINABILITY that they ignored….and instead of tiefing, tiefing without end…the fund would be in a much better place had they followed it….water under the bridge now…they gotta DO AS THEY ARE TOLD…..dumb people don’t like freedom and ALWAYS FIND A WAYS TO SCREW IT UP….now they have to tow an even LONGER
    LINE..

    Am just happy to see them where they belong.

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  • Waru
    David
    It is all well and good to talk about tapering expectations for the whole country but in the worst of economic disasters elites seem always to escape cuts. Indeed massive consolidations continue at the top.

    These are the very people who saw nothing wrong with transferring NIS funds to all kinds of misadventures. Social security money should have never been so used.

    When we look around the world there are no obvious solutions to any of the intractable problems encountered. How would Barbados, for example, productively increase the population by 80000 people so that enough working people could pay into the NIS. And this is only one of the large problems it faces. A problem not even expectations tapering can remedy.

    Liked by 1 person

  • It is not a solution and surely we will talk about it again. But for me that day is not today.

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  • “Social security money should have never been so used.”

    LOUDER for those in the back, i don’t think they heard it in the back where the CORRUPT in the parliament and their tag team cockroaches aka white shadows sit..

    “How would Barbados, for example, productively increase the population by 80000 people so that enough working people could pay into the NIS.”

    they were warned by EVERYONE including myself to BROADEN THE TAX BASE….stop stagnating Black businesses and progress so the economy can grow by leaps and bounds, but the bad minded negros saw that as a bridge too far, them and their TIEFING COVETOUS MINORITIES…just don’t want to see Black progress…

    anyway,, funny enuff…heard that 80,000 number called only this week regarding the Irish, don’t know how accurate yet, but if 80,000 Irish are allowed to work, that should do it, and since the sellouts in the parliament are no longer calling any shots….they will HAVE NO SAY…and they CAN’T TIEF NOTHING…mfs..

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  • They are going to reap exactly what they sowed…plant potatoes reap potatoes..as William tells them ALL THE TIME…….and the only people who will shed tears are the bottomfeeders, yardfowls/Slaves and the corrupt….just as they all deserve..

    ..i already warned these parasites about OUR CONTINET….keep disrespecting our ancestral holdimgs and there will be HELL TO PAY…we are THE SURVIVORS..

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  • Pacha…as we knew, private entities, universities and private businesses like Lloyds etc are liable to pay reparations quicker than countries…but do they know they need a conservator for the known crooks…to oversee how the money is spent….thieves will be thieves..they don’t take vacation. Am sure they are already salivating at the prospects and organizing cocktail parties for fools.

    http://barbados.loopnews.com/content/us500000-private-reparations-payment-uwi-more-making-0

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  • “Vice-Chancellor of the University of the West Indies (UWI) and Chairman of the CARICOM Reparations Commission, Professor Sir Hilary Beckles, has advised of a reparation payment of US$500,000 to the university from a United Kingdom philanthropist, Bridget Freeman.

    The development comes on the heels of the University of Glasgow’s agreement to enter into a £20 million reparation programme with the UWI after apologising for its financial participation in the Caribbean slave economy centuries ago.

    Freeman agreed to pay reparations for her family’s involvement in slavery, Beckles indicated. A British citizen, he said she agreed to contribute US$500,000 to the university’s development fund through its 2021 Global Giving campaign.

    A release from Beckles on behalf of the UWI, said Freeman described being “horrified and touched” by discussion on the impact of slavery on the region today.

    “She agreed that reparations should be paid by those who benefitted from the crime against humanity,” said Beckles.

    “It is not right (to deny reparations). We owe it… the giving back just seems so obvious,” Beckles said Freeman stated.

    “Bridget’s family married into the Barbados slave-owning class and became involved in its development. As an accomplished musician, she has also declared an intention to contribute to the newly established Faculty of Culture, Creative and Performing Arts at the Cave Hill Campus in Barbados,” Beckles added.

    “It’s a seminal moment in the regional reparations movement. Bridget Freeman should be celebrated as a citizen who has broken ranks with British white supremacy, conservatism, and has become an activist ‘reparationist’,” said a clearly animated Beckles.

    “Bridget has accepted her responsibility and willingness to be held accountable. In this regard, she is a reparations hero, and we hope that the millions of other British citizens in her position will step up, come forward and participate in the healing and development that is reparations.,” he elaborated.

    Beckles said the reparation investment is to be directed to needy UWI students “in order to sustain the access revolution that is central to Caribbean development and to the university’s strategic plan.”

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  • @ WURA
    In one breath we talk about ensuring opportunities for the small black businesses. And then , abracadabra, we are about to import houses from Japan, to replace those damaged in the recent hurricane.
    Now everybody visit knows that construction is a great agent of economic growth. Here was a real opportunity for a properly planned construction opportunity for the small contractor but……..
    Well , the Barbados Lumber Company is black owned but who cares………….
    Those who have eyes to see let them see.

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  • Yes William…i just commented on that on the other thread, China also has to build the frames for the houses, which take time, just as it would locally, and they do not have the best record for sturdy builds anyway..

    depriving local contractors…in the Black population….is more important to these clowns than creating conditions for the economy to thrive and allow citizens TO PULL THEMSELVES out of the economic morass..

    , but as i said, incompetent manufactured negros are always on the look out for the next slave master and never believe Black/African people are capable of doing anything for themselves….wilfull IGNORANCE well structured and unmoveable…they are NOT working in the best interest of the Black population who hired them, never did and obviously NEVER WILL…

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  • Extracted from the latest IMF Consultation.

    Structural reforms are ongoing, and structural benchmarks under the EFF were met. The government developed plans to recapitalize the Central Bank of Barbados and address medium and long-term challenges for the National Insurance Scheme (NIS) stemming from the debt restructuring and the COVID pandemic, and recapitalization of the NIS has started. A medium-term fiscal framework was tabled in parliament to enhance transparency and accountability in fiscal policy, while retaining sufficient flexibility to respond to the pandemic and other economic shocks.

    https://www.imf.org/en/News/Articles/2021/08/27/pr21250-barbados-imf-staff-concludes-virtual-visit-to-barbados?cid=em-COM-123-43551

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  • NorthernObserver

    I have no words. The IMF have now become a mouthpiece of the GoB.

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  • As long as projections are on target…..let anything go south and you will see, they are calling the shots anyway…so it’s easy..

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  • https://barbadostoday.bb/2021/08/27/imf-says-barbados-economy-remains-severely-depressed/

    call it mixed messages if you will…with poor Covid being blamed for everything…either way, who is lending and lending and granting and granting call the tunes and they gotta dance to every note.

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  • @NO

    How do you mean?

    Barbados is in an IMF structural program, wouldn’t you expect the IMF to comment on the progress of performance to signal to the market?

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  • NorthernObserver

    @David
    “stemming from the debt restructuring and the COVID pandemic”,……”A medium-term fiscal framework was tabled in parliament to enhance transparency and accountability in fiscal policy”
    The challenges did NOT stem from the debt restructuring and Covid, rather they exacerbated the poor decisions previously made in investment decisions and loan portfolio management.
    How is the “framework” going to enhance T&A, when successive administrations have deliberately chosen to flaunt the law, (reporting requirements etc)
    The IMF is to help the people. Not promote sound bites which have clear political messages AND are inaccurate.

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  • @NO

    Why would the IMF be vested in supporting an economy policy that will lead nowhere? All it does it to enhance the image of being an unhelpful support agency.

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  • NorthernObserver

    I didn’t say some of the IMF policies would lead nowhere?
    My comment is their short blurb was too political. The narrative the NIS challenges are the result of a partial default and Covid, masks the causal factors of the NIS issues.
    The IMF got a bad rap for being too dictatorial and with questionable economic policy. So now they seek to be more cooperative, promoting the “home grown” narrative, which they approve and oversee.
    It is one thing to be positive and keep your sterner comments in person, yet to publicly state what they did is very misleading, and IMO they are better to say nothing, than pen bullshit.
    Now you will hear the NIS challenges are the result of Covid, in fact, the IMF said so? The opposition will say the result of the debt default, the IMF said so. And around the mulberry bush we go.

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  • @NO

    Fair enough.

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  • Govt borrows money to pay the workers what govt owes them
    But the story does not end there as in the long run that money which was borrowed to pay workers would be handed back to the workers in form of debt
    Kiss my monkey backside

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  • @David

    FOUR (4) MONTHS after pension payments were ceased, without prior warning, NAB officials called the retired former employees last week, to tell them they will no longer receive pension.

    I’m now hearing NAB is supposed to hold a meeting, at which they are expected to give them an official explanation.

    And, Minister of Elder Affairs, Cynthia Forde who, at 69 years old is also a senior citizen, has REMAINED SILENT on the issue.

    Mottley and her administration were INHUMANE in their handling of this situation.

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  • Min Forde welcoming back NAB staff members last year, after a forced Covid break.
    “And so I want the rest of Barbados and the world to know how much we value the contribution of these hardworking, dedicated members of staff here, who do not only look after their own families, but they go out into the trenches and into the households and communities across the length and breadth of Barbados to be able to bring service and care, particularly to our elderly folk.” (GIS)
    @Artax…the consolidated find brek?

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  • Fund

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  • @ NorthernObserver

    The consolidated fund can’t be brek and de Chinese getting big money.

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  • Still awaiting the source of the Chinese “financing”. Betting it isn’t the CF.

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