Est.2007

Barbados Underground

Bringing News and Opinions to the People

Banner promoting anonymous crime reporting with a phone and contact number 1 800 TIPS (8477), featuring the Crime Stoppers logo and a QR code for submitting tips.

NIS Town Hall – The Golden Chip

← Back

Your message to the BLOGMASTER was sent

CONTACT THE BLOGMASTER ONLY

Today is the scheduled NIS Town Hall for a concerned public to share feedback to the revelation our National Insurance Fund (NIF) needs another lifeline. In recent days the buzz is a concern the eligibility age for NIS pension will be extended to 72 years old.

The blogmaster is willing to bet Prime Minister Mottley being the political animal she is anticipated that NIS reform currently being contemplated will significantly deflate her popularity, she needs the time to implement reform and win back favour BEFORE the next general election, the perfect political gamble. Especially if she is serious about demitting office at that time. Therefore one of the reasons for an early general election call.

Follow the NIS town hall at Combermere School, Waterford at 6PM.

Discover more from Barbados Underground

Subscribe to get the latest posts sent to your email.

413 responses to “NIS Town Hall – The Golden Chip”

  1. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “This statement by @ David is an insult to anybody’s intelligence.”

    “Why not ask : Who were the civil servants who worked “ covertly” to assist employers with owning $56 million to the NIS.”

    they are called energy vampires, don’t fall for it….ya int see the other one came out hoping to get traction..

  2. Enuff Avatar
    Enuff

    “French descents in the household, but we never knew who made that music….”

    Of course they were, Russian, Filipino, Nordic, Mayan, Aztec and more.🤣🤣🤣🤣

  3. BAJE Avatar
    BAJE

    Where it is found that a politician or a member of the business community is implicated and found guilty they should be given an immediate jail sentence. No name in Barbados should be above the law.

    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

    YOU MUST BE SMOKING POT.

    NOT ON THE 2 X 3 ISLAND PARADISE.

    NOW IF THEY WERE IN AMERICA OR IN A DEVELOPED COUNTRY YOU MAY SEE JUSTICE BUT NOT IN THE CESSPOOL OF AN ISLAND WHERE BLACK LEADERS AND THEIR WHITE CO-CONSPIRATORS CONTINUE TO TAKE ADVANTAGE OF OTHER BLACKS TO FATTEN THEIR WALLETS AND BANK ACCOUNTS AT THE EXPENSE OF THE TAX PAYING MASSES.

  4. Cuhdear Bajan Avatar
    Cuhdear Bajan

    @Pachamama August 15, 2022 12:06 PM “Maybe Gearbox could have so won as well.”

    So the late Gearbox, may he rest in peace, could have won.

    But the DLP could not win???

    Do you think that it is because they wanted to lose???

    Enlighten me please

  5. David Avatar
    David

    @William

    Are politicians members of Clearwater Bay board?

    Or are they current and former public servants in the main.

    Do members of boards under the companies act of Barbados have a fiduciary responsibility to make prudent decisions in the interest of the company or carry out instructions from politicians as you suggest.

    Finally, why as stated in the recent auditor general report there is an attempt through the court to reverse the decision to sell the paradise property. Why was it done ‘quietly’ by those concerned?

  6. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Slaves don’t get that luxury, they only know one thing…..”it does happen everywhere.”

    wunna int got no diversity….don’t even know who ya are…..so how are ya expected to know anything or have vast knowledge of life itself…

    Cult fowl look…..SHITHOLE SQUARED…

    “NOW IF THEY WERE IN AMERICA OR IN A DEVELOPED COUNTRY YOU MAY SEE JUSTICE BUT NOT IN THE CESSPOOL OF AN ISLAND WHERE BLACK LEADERS AND THEIR WHITE CO-CONSPIRATORS CONTINUE TO TAKE ADVANTAGE OF OTHER BLACKS TO FATTEN THEIR WALLETS AND BANK ACCOUNTS AT THE EXPENSE OF THE TAX PAYING MASSES.”

  7. William Skinner Avatar
    William Skinner

    @ David
    There is nothing to prove that public servants acted in a “ covert” manner. No public officer is MOF.
    You cannot twist what you said. I know what you wrote.
    Kindly identify the “ civil servants” ( public servants ) who acted covertly in this matter.
    You really ought to know better.
    Peace.

  8. David Avatar
    David

    Stay in your bubble William, as far as you are concerned public servants are untouchable. You are incorrect. There is a reason politicians do policy and the public service execute. Until you can explain how that land was sold quietly you need to stay in your lane. A politician is not legally able to sell land.

  9. William Skinner Avatar
    William Skinner

    @ David
    I have never said public servants are untouchable. Public servants did not decide to cost the NIS one billion dollars by making an economic policy decision.
    Here we are trying to focus on how the politicians mismanaged the NIS and we are determined to put public servants as the chief architects. That cannot hold water.
    Did public servants decide to sell the National Bank ?
    Did public servants decide to bail out CLICO?
    Did public servants decide to cut down an ackee tree for $25,000?
    Did public servants decide to construct or refurbish public beach baths for hundreds of thousands?
    Do public servants decide to pay attorneys millions of dollars for legal work that do not merit those sums?
    Please put the blame for the mammoth corruption and wastage of public funds from Greenland to Cahill where it belongs.
    Peace.

  10. Enuff Avatar
    Enuff

    Bushie
    Stupse. Uninformed.

  11. BAJE Avatar
    BAJE

    Did public servants decide to sell the National Bank ?
    Did public servants decide to bail out CLICO?
    Did public servants decide to cut down an ackee tree for $25,000?
    Did public servants decide to construct or refurbish public beach baths for hundreds of thousands?
    Do public servants decide to pay attorneys millions of dollars for legal work that do not merit those sums?
    Please put the blame for the mammoth corruption and wastage of public funds from Greenland to Cahill where it belongs.
    Peace.

    XXXXXXXXXXXXXXXXXXXXXXXXXXXXX

    YOU SHARING BLOWS AND SPEAKING TRUTH.

  12. David Avatar
    David

    Steuspe

  13. Bush Tea Avatar
    Bush Tea

    @ Enuff
    Bushie uninformed?
    That is an oxymoron Boss. Better speak for Enuff
    LOL

  14. William Skinner Avatar
    William Skinner

    @ Baje
    I hearing the same nonsense on Brasstacks about this poor public service we have.
    We have always had a relatively fine public service. The main problem has been politicians who victimized any public servant that they thought was not supporting their party.
    One exceptional exception, was when Tom Adams entrusted Sir Harcourt Lewis a known DLP , to run the national bank.
    If we did not have an historical competent public service, the country would have gone under water by the sheer weight of corruption and political interference, ever since
    Peace..

  15. David Avatar
    David

    William why don’t you read the most recent article by Peter Laurie? Should we run with your view or his.

  16. BAJE Avatar
    BAJE

    THE BELOW SHOULD BE VIEWED BY ALL SELLOUTS OF BLACK PEOPLE ON THE 2 X 3 ISLAND.

  17. Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol Avatar
    Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol

    “NOW IF THEY WERE IN AMERICA OR IN A DEVELOPED COUNTRY YOU MAY SEE JUSTICE”

    There have been and still are several ongoing cases and investigations against Trump, who used ultimate power of office to implement several immoral and prejudiced rulings during his tenure like a gangster crime boss. He fights charges in cases with rumours and hearsay on social media and is now said to imminently announce his 2024 election bid early as a means to protect and defend himself from FBI prosecution in recent investigation of being in possession of classified documents illegally. His Team are also prosecuted on numerous charges. USA has more power, privilege and next level corruption with more options and levers to pull in dubious shenanigans globally.

    WAR

    Music Is the Weapon

  18. Dullard Avatar
    Dullard

    What a circus!

    Dullard again is correct in sidestepping this latest dog and pony show.

    Talking heads like David BU will enjoy the performances but ultimately nothing serious has been done or even suggested by the naked emperor Mugabe.

    To suggest that audited statements of the NIS will just be “rubber stamps of the internal management accounts” this downplaying their importance betrays ingorance at best, political deception at worst.

    You people are blind so let me tell you what will happen here.

    In the short term: some cosmetic band aids to project the image of serious attempts to fix the NIS.

    Mid term: implementation of some recommendations from Derek Osborne and others. These will be partially useful but lacking rigour and the nuance necessary for the Barbadian context. They will ultimately fail meaning that in a couple of decades we will be here again.

    Long term: NIS is finished as we know it largely due to government incompetence and mismanagement. It will either become means tested, with a focus on the most needy, or the barriers to payout so high as to be if little use to the average person.

    You heard it here first.

    What a bunch of jokers…

  19. David Avatar
    David

    @Dullard – adviser to actuaries

    We are still waiting for your 3 suggestions re NIS reform.

  20. Dullard Avatar
    Dullard

    @Dullard – adviser to actuaries

    We are still waiting for your 3 suggestions re NIS reform.

    ++++++
    “Suggestions” don’t come free. That is for PLT.

    Advice is expensive — just ask Mugabe and her motley crew.

  21. Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol Avatar
    Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol

    Ubuntu is an ancient African word meaning ‘humanity to others’. It is often described as reminding us that ‘I am what I am because of who we all are’.

    Ubuntu

    Ubuntu Dub

    problems without solutions, moaning, criticising, blaming and pointing fingers is the Bajan way

  22. Dullard Avatar
    Dullard

    “@Dullard – adviser to actuaries”

    Oh, is this meant to be a subtle dig? Try harder.

    I don’t know your background but where I operate actuaries are nothing special. They may be in your world.

    Besides, how do you know that the Dullard wasn’t an FSA or FIA?

  23. John Avatar
    John

    BAJEAugust 15, 2022 10:41 PM

    THE BELOW SHOULD BE VIEWED BY ALL SELLOUTS OF BLACK PEOPLE ON THE 2 X 3 ISLAND.

    +++++++++++++++++++++++++++++++++++

    Check the Zanj rebellion a thousand years earlier!!

    You will realise slave rebellions in Barbados were strictly 1X1 operations.

  24. David Avatar
    David

    @Dullard

    Fair enough. The blogmaster will continue to read your critiques which are free.

  25. David Avatar
    David

    @Dullard

    Was it subtle?

  26. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    William…these must think that everyone they speak to on and off island is their pimps and fowls who don’t know the TRUE DEFINITION OF CORRUPTION…

    insulting people’s intelligence and NO ONE IS IMPRESSED except those they believe are too dumb to be anything else but…

    “If we did not have an historical competent public service, the country would have gone under water by the sheer weight of corruption and political interference, ever since”

    the frauds are telling ya that the corruption ya seeing and have known about for DECADES is not really corruption….if it was ” they would tell ya” so they say….

    glad they ALL REVEALED THEMSELVES finally…the weight of DECEPTION must have gotten way to heavy to carry..

  27. TheOGazerts Avatar
    TheOGazerts

    “Suggestions” don’t come free. That is for PLT.
    Advice is expensive — just ask Mugabe and her motley crew.”

    Well said. For a few,, we have to wait and see what is their final objective. Time will tell..

    Transparency is seen as a blame game
    When the wheels are coming off the bus, then we have townhall meetings as politicians want our input so as to transfer some responsibility for their screw-up to the backs of the people.

    When there is a buck to be made they pass legislation to benefit some and hide the names of the beneficiaries. We may hear a company get a contract, but we have no idea who are the owners of the company, Our best hope of getting information is that our rats meets bigger rats and get scammed.

    Did we ever figure out who is EWSB and what they do?

    Meanwhile, some bloggers boast of public engagement and a few seconds later laments that the public does not seem to be engage. They blame civil servants and conveniently ignore the chief culprits. (crooked MPs). No man can serve two masters (fairly)..

  28. Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol Avatar
    Magnificent a.k.a Magno – Yu Heard Formula: C₂₁H₃₀O₂ IUPAC ID: (−)-(6aR,10aR)-6,6,9-trimethyl- 3-pentyl-6a,7,8,10a-tetrahydro- 6H-benzo[c]chromen-1-ol

    “Transparency is seen as a blame game
    When the wheels are coming off the bus, then we have townhall meetings as politicians want our input so as to transfer some responsibility for their screw-up to the backs of the people.”

    Things always seem to get twisted
    Public are stakeholders in NIS and should have their say in Government fixes
    It is better to address problems than hide and deny them

    Wait a Minute

    https://www.youtube.com/watch?v=e11s9CCigxo

  29. Bush Tea Avatar
    Bush Tea

    @ David
    “We are still waiting for your 3 suggestions re NIS reform.”
    ~~~~~~~~~~~~~~~~~~~~
    Prepare a good eulogy
    Empanel a Commission of inquiry (Chaired by the Auditor G) to prepare a report for the DPP
    Have a nice official funeral for the NIS

    As we will see much more clearly soon, there is NO guarantee of good outcomes from brassbowlery….

  30. 555dubstreet Avatar
    555dubstreet

    “As we will see much more clearly soon, there is NO guarantee of good outcomes from brassbowlery….”

    Why is there even any expectation of a good outcome from brassbowelry
    CYA Cover Your Ass is a due diligence technique to absolve culpability and is industry standard

    Betrayed

  31. Cuhdear Bajan Avatar
    Cuhdear Bajan

    I don’t know if there are any actual NIS pensioners on this blog or just the usual collection of naysayers, curmudgeons and anti-Bajans.

    But these are this pensioner’s facts.

    I worked for 43 years and 3 months, but had 3 periods of unemployment which added up to 12 months. I have always been fit and healthy and can still do outdoor work for up to 5 hours at a time in 30C+ degree heat and nearly 100% humidity, as long as I eat a good breakfast and drink plenty of water. I am still fit and healthy, so during my working life I made ZERO sick claims on NIS or any other system.

    So how does NIS factor into my retirement income?
    NIS makes up 42% of my income
    Pension from my former employer 27%
    Rental income 20% [I inherited this, but I pay for repairs, taxes and insurance, advertising etc.]
    Pension from working over in away 10%

    I had another work pension but cashed it in years ago to get start on building a house.

    If these numbers don’t add up to 100% I rounded to the nearest dollar but wunna dun know that I int too good wid numbers.

    So do I need my NIS? Yes please.

    Can I afford a cut? NO, NO, NO.

    As a good Bajan I had the requisite number of children to replace me when I go the way of all flesh. And if I may so so myself I raised them well, sent them to school [the teachers educated them, not me, lol!] and sent them out to paid work, neither in government service as in my family we int “lucky” in getting government picks or government contracts regardless of which party is in office.

  32. Dullard Avatar
    Dullard

    Good one Bush Tea at 6.47 re David’s request re

    “We are still waiting for your 3 suggestions re NIS reform.”

    I don’t see the Blogmaster asking President Mugabe or Ian Carrington or William Layne or mock prof Avi Persuade for ” 3 suggestions re NIS reform”

    Smh

  33. Artax Avatar
    Artax

    “Off message. Check out the music from this product of the plantation system from Martinique. I enjoy classical music, yet I have never heard of this guy.”
    ~~~~~~~~~~

    I’m also a lover of classical music and I’ve heard about ‘Chevalier de Saint-Georges.’
    He was born in Guadeloupe…… not Martinique.

    I mentioned him in a contribution to the “2020 US PRESIDENTIAL ELECTION” blog, in response to a regular contributor who criticised Dr. GP and I for discussing classical music, which he described as ‘white people music.’

    Artax November 6, 2020 11:08 AM

    “I WAS NOT AWARE OF THE SEVERAL COMPOSERS YOU CITED OR THAT THERE WERE OTHER COMPOSERS CLASSIFIED AS BAROQUE PERIOD.”

    Dr. GP

    That was a list of my favourite composers and not all of them were from the Baroque period. There are other composers, such as JOSEPH BOLOGNE (Chevalier de Saint-Georges or Knight of St. George), Blind Tom Wiggins and William Mercer (Marion) Cook, whose music are not as popular as the others mentioned, but they are worth listening to and you’ll be surprised to know who they were.

  34. David Avatar
    David

    @Dullard

    Isn’t the objective to counter what the persons you named are doing?

    Keep up Mr.Advisor!

  35. David Avatar
    David

    Reply to report coming

    GOVERNMENT WILL BE laying a response to the Auditor General’s damning report in Parliament either today or tomorrow.
    This was made clear by Prime Minister Mia Amor Mottley during a press conference at Ilaro court yesterday evening.
    Responding to public demands that Government speak on the report, Mottley reminded that Ryan Straughn, Minister in the Ministry of Finance, had indicated Government would speak on the matter.
    She said the necessary research on the various issues highlighted in the report had to be undertaken.
    “Minister Ryan Straughn told the country that the Government would be responding to that report and, clearly, if you are going to respond to a report that is substantive like that, you can’t do so from the top of your head,” she said, pointing out that the Director of Finance, who was the person to respond, was on leave.
    However, the Prime Minister added: “Suffice it to say he has been able to garner all the responses from the various departments and with a covering letter. I would anticipate that that letter and those
    responses would go down to be laid digitally in Parliament sometime between tomorrow and Wednesday.”
    In his report, Auditor General Leigh Trotman pointed to a number of deficiencies in financial accounting management, the lack of proper internal controls at many state entities, and the need for greater accountability on the part of public sector officers charged with managing public funds.
    He expressed concern that Government ministries and departments were being delinquent in providing timely financial information to his office and wanted “credible sanctions” introduced to improve the situation.
    Trotman also revealed that Government had been paying millions of dollars in pension to some of its former workers even though they were dead – some for more than ten years.
    The Prime Minister said the deficiencies in the report were not because of “corruption”.
    “I want to also reinforce in people’s minds and to give the public and the wider public outside of Barbados who may feel that we are doing things that are the subject to corruption or improperly, that that is not the case,” she said.
    Mottley laid part of the blame on Government’s accrual system of accounting, arguing that the transition from cash-based to accrual had never really been made.
    “That has been at the source of a lot of the difficulties that you see and a lot of commentary that you also see in the Auditor General’s Report. Is that the only thing that is wrong?
    No, it isn’t, but that is responsible for the large problems that we have.”
    In terms of the much talked about National Insurance Scheme, the Prime Minister also urged Barbadians to attend the town hall meetings which started last night and make suggestions on the way forward with the scheme.
    Meanwhile, when asked about the noticeable reductions in press conferences relating to the COVID-19 pandemic, Mottley said she no longer felt that giving updates on a regular basis was necessary.
    “I am not so sure that there is any merit in a daily update anymore on COVID when the whole world has gone beyond that,” she said. (MB)


    Source: Nation

  36. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    *glad they ALL REVEALED THEMSELVES finally…the weight of DECEPTION must have gotten way TOO heavy to carry..

  37. Dullard Avatar
    Dullard

    @Dullard
    Isn’t the objective to counter what the persons you named are doing?
    Keep up Mr.Advisor!

    +++++
    No! Not at all.

    The objective is for you to fly kites and run interference on behalf of your paymasters.

  38. David Avatar
    David

    @Dullard

    The blogmaster has been accused of worse so you are not in the worst company it must be said.

  39. Bush Tea Avatar
    Bush Tea

    @ Dullard
    Take it easy.
    David has always been a provocateur extraordinaire.
    If he wanted to ‘run interference for Mugabe’ he needed only shut down the blog….

    …Unless of course you are suggesting that BU has been highjacked by nefarious forces, and that a new ‘David’ has been installed in order to subtly steer the Blog in the direction of GIS and the other HOARDS of associated BLP Propaganda organs, to hail the supreme leader and her minions such as Enuff and Lorenzo….

    However, when that recent mysterious one-week BU ‘lull’ is explained to the bushman’s satisfaction, any such theories being held by you and others, will be summarily dismissed by the bushman… LOL

  40. Sargeant Avatar
    Sargeant

    Trotman also revealed that Government had been paying millions of dollars in pension to some of its former workers even though they were dead – some for more than ten years
    ++++++++
    What am I missing? I thought it was SOP that
    1) when people die that their National ID cards were turned over to the funeral homes for onward transmission to the Govt so their benefits can be terminated.
    2) Were the pension cheques mailed or were they paid as direct deposits? If they were mailed who is cashing the cheques? If they were direct deposits (and this is a big if) and the banks was notified that the beneficiary is deceased, why did they not return the payments?
    3) Doesn’t the Gov’t routinely send out notices to recipients of pensions requesting confirmation that the individual is still above ground?

    There are gross inefficiencies in a system where pension is still being paid after a person has been dead for ten years.

  41. David Avatar
    David

    @Sargeant

    The NIS needs to be a little more efficient. The CEO of NIS explained that cheques are mailed in advance therefore there is the possibility of a dead person receiving a cheque in the short term. The bigger problem seems to be syncing information between relevant government departments about recent deaths. Seems manual, nothing that a easy process of exchanging an electronic file between the departments shouldn’t fix but how long will it take to do so is the question.

  42. Cuhdear Bajan Avatar
    Cuhdear Bajan

    @Sargeant August 16, 2022 8:55 AM “1) when people die that their National ID cards were turned over to the funeral homes for onward transmission to the Govt so their benefits can be terminated.”

    Ooops!! Looks like I may have broken the law. I still have the ID cards for both of my dead parents. But I did take the death certificates to NIS and NIS terminated the pensions. Paid the undertaker (a cousin) cash before he interred the parents. The way I look at it if the parents raised nearly a dozen of us there was no point making the undertaker wait for his money, so I advised [ordered really, lol!] siblings to “walk” wid ya money when ya show up to the funerals so the undertaker was paid in full the day BEFORE the funerals.

  43. Cuhdear Bajan Avatar
    Cuhdear Bajan

    @David August 16, 2022 9:01 AM “Seems manual, nothing that a easy process of exchanging an electronic file between the departments shouldn’t fix.”

    Dear David: Barbados does not have a population of billions. In our small population about 10 people die everyday, Ten David. 10. How difficult can it be for the most junior clerk to go to the Registry every Monday morning and pull the 70 death certificates, which nowadays include the national ID number and include that information in the NIS system? I have training and years of experience in records management. A competent clerk can do this work in about 4 hours each week. I could even volunteer to do it for the government FREE.

    Coming soon some smart man [ALWAYS a MAN] selling the government a “sophisticated” computerized system, likely designed for a population the size on India’s to do the work that a competent clerk can do manually in half a day.

    Why do we like to make easy things difficult?

    Lord come fah ya world!!!

  44. David Avatar
    David

    What about other public and private agencies that would find the information useful if it is automatically generated from source and made available? Think big.

  45. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    I take it only few people are dumb enuff to offer suggestions so that CROOKS can keep a slave society intact to benefit them and their CRIMINAL PARTNERS…

  46. David Avatar
    David

    Steuspe

  47. Cuhdear Bajan Avatar
    Cuhdear Bajan

    David oftentimes “Small Is Beautiful” AND efficient.

  48. David Avatar
    David

    Capture those not paying!

    by TRE GREAVES tregreaves@nationnews.com

    TARGET THE HANDYMEN, VENDORS, attorneys and doctors who currently do not contribute to the National Insurance Scheme (NIS).
    And while you’re at it, do more to ensure Government officials cannot use the fund at their will.
    Those were some of the recommendations put forward by actuary Derek Osborne and the public during a robust town hall meeting last night at Combermere School’s Major Moot Hall, in Waterford, St Michael.
    NIS chairman Leslie Haynes, his deputy Rawdon Adams and director Kim Tudor were also present.
    During his presentation, Osborne stressed that the NIS was unsustainable because it was still designed as when it began over 55 years ago.
    He suggested therefore that a larger economy and better governance were some of the ways to prevent a collapse.
    “We have to find a balance between the adequacy of benefits, the affordability of contributions and long term sustainability. We want a bigger economy; whether that is due to migration, a higher birth rate, higher productivity or employees working smarter, more investment from the diaspora, or foreign investment “However, we have to find a way to catch vendors, plumbers, carpenters, lawyers, doctors, whoever they are that are working on an informal basis, to pay contributions and contribute to the state in general,” Osborne said.
    He also suggested that pensions of those not yet in the system could be reduced and that the pensionable ages could be increased.
    “We can look at the new pensions people get and reduce that slightly so that going forward you can reduce long term costs.
    “Currently 60 is the earliest age to receive a reduced pension, 67 is the age for full pension. We could move from 60 to 62 or 65, or move from 67 to 68, 69 or 70. All of these are options. However, nothing is off the table and everything is up for discussion,” he said.
    His comments came after Government announced last week that if changes were not made, the $4 billion fund would be in jeopardy by 2034.
    Several members of the public present last night voiced their concerns.
    Sandra Squires said more should be done about non-contributors.
    “I don’t think we are aggressive enough in going after persons who should be paying. That is an area we should be paying more attention to,” she said.
    One woman who did not identify herself chastised governments’ use of the fund over the years and called for more accountability.
    “We didn’t tell you to dip and no one asked, but now we are here and you are asking us for solutions to a problem you guys created.
    “We are law-abiding citizens who sat and contributed faithfully to a scheme thinking that when we get 65 and then 67, we were assured a pension. It’s not fair,” she lamented.
    “So the first thing you need to do is stop governments from dipping into our money,” she said as the audience applauded.
    In response, Osborne said the policy was already in place but agreed that NIS board members may have to be strong-willed
    to prevent excessive usage of the funds.
    Weakness
    He said: “For the last ten to 15 years, they’ve exceeded the maximum limit in the investment policy, which means that even though the policy existed, boards still allowed further investments to be made in the Government and that is where I think the weakness lies.
    “So if a board is resolute that we are not investing anymore in the Government, a phone call can’t change that unless there is a directive from the minister in writing . . . . So hopefully board members of the future can be strong enough to say, ‘The agreement policy we have in writing and we are not going to change from this policy and say no to investments, whether public or private, does not meet the investment policy,” he added.
    Haynes said the current board was solid and workers were vigorously represented. He added it was made up of representatives from the National Union of Public Workers, Barbados Workers’ Union, Barbados Employers’ Confederation and the Barbados Hotel and Tourism Association as stipulated by law.
    He also pointed out that funds were used for public goods.
    Audience member Cassandra Bowen said a holistic approach was needed to address the issues facing the country.
    She, however, questioned why the public was unable to see audited financial statements.
    “I have a concern that money was borrowed from the NIS and not paid back and I feel that somebody should be held responsible for that. Plus, if we have all of these top people inside here and we cannot get audited reports on a regular basis, then somebody should get fired,” Bowen said.
    In response, Adams said they were aiming to settle accounts from 2012-2017 by the end of this year.
    Similarly, Tudor offered an apology and said they were working with the Auditor General to rectify the issue.
    “Each fund has its own income statement and balance sheet. We take our responsibility for managing those funds very seriously and on my desk are July 31, 2022 financial statements.
    “The Auditor General is working with us to implement a framework that will satisfy internationally accepted accounting standards and provide a supported schedule that can be validated. These financial statements are prepared. The smaller funds have been audited up to 2015-16, so don’t feel that we don’t do statements. They are done and prepared. We will apologise because you haven’t had sight of them because they aren’t public documents but rest assured, they are there,” she said.

    Source: Nation

  49. Cuhdear Bajan Avatar
    Cuhdear Bajan

    Dear David:

    Before we spend millions or tens of millions buying a “system” designed for populations of millions or billions can you please name the “other public and private agencies that would find the information useful”

    Thanks very much.

    David I know more about records management than you do. It is half a day’s work.

    Honestly.

  50. Cuhdear Bajan Avatar
    Cuhdear Bajan

    In two hours I could teach the grans who just did the 11+ how to do it.

    It int. hard.

    Why do we always like to make easy things difficult?

The blogmaster invites you to join the discussion.

Trending

Discover more from Barbados Underground

Subscribe now to keep reading and get access to the full archive.

Continue reading