A former chairman of the National Insurance Scheme (NIS) says the fund is not in any clear or present danger.
But, warned retired banker Tony Marshall, that can all change in under 16 years, if young people do not start contributing.
Marshall, also a former sports administrator, was addressing the monthly Men’s Educational Support Association (MESA) meeting at The St Michael School on Wednesday night.
He estimated that the NIS had until 2030 before its savings began to become depleted.
He was adamant that because Barbados was an aging society with at least 54 centenarians with that number expected to grow exponentially, the dwindling of the social security funds was to be taken seriously. (SDB Media)
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