Fortress NIS warning

National Insurance Scheme (NIS) claims could outstrip contributions within nine years. And if this situation continues, by 2050 the fund could dry up.
This concern was raised yesterday by pension director at Fortress Fund Managers, Rene Delmas, who said that there was too much Government interference in the fund and called for more private sector involvement.
He also took issue with the manner in which Government continued to borrow money from the fund as if it was a cash cow.
Delmas told investors, business people, pension contributors and other interested individuals that he was not prepared to sit back and do nothing to rescue the scheme.
His comments were made during the question and answer segment at the Fortress Fund Managers’ fourth annual investment forum at the Frank Collymore Hall. (MM)