Pensions ‘safer’ at the bank

BARBADOS’ 38 000 PENSIONERS will soon be required to maintain bank accounts to get their money from Government, as the National Insurance Scheme (NIS) eliminates the printing of pension cheques to cut costs and prevent fraud.
Director Ian Carrington confirmed to the midweek NATION that the NIS is in the process of a parish-by-parish rollout of the process.
Letters will be mailed out this week to the first set of elderly folk to be affected by the move – the approximately 3 500 pensioners in St James who will get their final cheques in October.
The correspondence advises them of the NIS decision and requests bank account details so pensions can be deposited from November. (DP)
 
 Full story in today’s DAILY NATION.