Minister of Labour Senator Dr Esther Byer-Suckoo feels while talk about the viability of the National Insurance Fund may be fuelled by political agendas, the National Insurance Scheme (NIS) is a well governed entity.
Speaking during the Second Reading of the National Insurance and Social Security (Amendment) Bill in the Senate today, she said “a lot of the concern we’re hearing today is fuelled perhaps by mischievous personal and political agendas”, and while much discussion was ongoing on Government’s handling of the NIS Fund, not enough outrage was being expressed about fraudulent sick leave, delinquent employers, and self-employed people not contributing.
Stating it was “essentially hypocrisy to be crying crocodile tears over just about how the fund is managed”, she said “our system is very well governed. It’s not a perfect system, it is a human system and in its 46 years there have been mistakes made”.
Noting that the NIS Fund’s investment committee and its system had become stronger and more tightly controlled, she added, “I want to assure you that any investment that the NIS has made in Government projects is not at low rates…I want to assure the public we are managing, we are continuing to manage the Fund.”
Full reports from the Senate in tomorrow’s DAILY NATION
