NIB Executive Director: Urgent Reform Needed

< 00:02:38 > |

Get the Free Android App for your phone
The National Insurance Board (NIB) has revealed that its contribution income is no longer sufficient to support its benefit payments, which has resulted in a deficit for the company. Executive... Read more

Category: Movies from 2017, Movies from 2020...

Ad:

The National Insurance Board (NIB) has revealed that its contribution income is no longer sufficient to support its benefit payments, which has resulted in a deficit for the company. Executive Director of the NIB, Niala Persad-Poliah, said the benefit expenditure has been growing because of the ageing population and people leading healthier lifestyles. She said between the period 2017 to 2020, benefit expenditure grew from $4.7 billion to $5.3 billion. But, during the same period, contribution income hovered between $4.7 and $4.6 billion. Mrs. Persad-Poliah said the trend is expected to continue into the future. While the Fund is sustainable, she said urgent reform is needed. Mrs. Persad-Poliah said another suggestion is to freeze the minimum pension until it becomes relevant. She revealed that NIB met with the Ministry of Finance on the matter.

NIB Executive Director: Urgent Reform Needed

NIB Executive Director: Urgent Reform Needed

Similar Movies to "NIB Executive Director: Urgent Reform Needed"

Couldn't find what you were looking for?

Get the latest movies directly in your email.